Binance has just introduced a number of new mechanisms on the exchange, notably the list and delist mechanism voted by the holders themselves.
“Since Binance was founded in 2017, the exchange has always put its users first. Binance’s growth and success are inseparable from the community, and user feedback continues to help us grow,” Binance said.
Empowering communities to vote
The community has recently provided Binance with many valuable suggestions. After testing and evaluation, the exchange said it is improving its listing and delisting mechanism as follows:
- If a project has a listing budget, Binance will announce this information and will distribute tokens from that budget through various airdrops. Binance will not charge a listing fee.
- Introducing the “list and delist” mechanism. Users can vote to list projects or vote to remove weak, high-risk projects.
- Projects with exclusive TGE on Binance Wallet will be included in the Alpha Observation Zone.
Binance said the purpose of enhancing Binance’s new listing mechanism is to provide users with more opportunities to discover good projects with potential, while ensuring projects meet standards of quality, innovation, and regulatory compliance.
Vote to List
Users can vote for their favorite projects that they want to be listed and the projects that receive the highest number of votes and pass the review will be listed on Binance.
Binance will select projects from the marketplace and Alpha Observation Zone to include in the voting pool.
Voting conditions: Users must hold at least 0.01 BNB in their account.
Vote to Delist
Users can list tokens on exchanges and can also vote to delist tokens.
According to Binance, Users can vote to delist weak projects or high-risk projects in the Monitoring Zone .
Projects that fall into this zone are: “ Projects that do not have product development updates, have inactive communities and teams, do not update progress regularly, increase token supply without due process, or pose significant risks to users will be placed in this zone”.
Binance said that in the future, they will monitor projects that do not disclose token details, and projects that do not cooperate will be moved into the monitoring area.
Voting conditions: Users must hold at least 0.01 BNB in their account.
Other information
- Binance Launchpool: allows users to earn new project tokens for free by staking BNB (including BNB stored in Binance Wallet) and other supported tokens.
- Binance Megadrop: integrates Binance Simple Earn with Binance Wallet, allowing users to gain early access to handpicked Web3 projects before they are officially listed on Binance. Users can stake BNB or complete Web3 tasks (such as interactions or transactions) to earn points, which determine their respective token rewards.
- Binance HODLer Airdrops: Users will be distributed free tokens based on their BNB holding history in Binance Earn and On-Chain Yields products.
- Direct Listing: Binance supports direct listing on the spot market for established or high-potential projects, providing them with direct access and exposure to Binance’s massive user base.
- Pre-Market: Pre-Market trading on Binance will provide early access to tokens on Launchpool, allowing users to trade them before their official listing on Binance spot.
Project applying for listing on Binance
Binance aims to maximize opportunities for both users and project teams. The exchange encourages projects that meet the following criteria to apply for listing.
- The project must have advanced products and technology.
- Sustainable business model with solid foundation
- A strong and engaged community
- Long-term development vision and high sense of responsibility towards investors
Interested projects can apply for Binance listing online at any time.
Applications will be selected and evaluated by Binance based on factors such as technological innovation, development team, market demand, regulatory compliance. Binance will recommend the most suitable listing method for each project.
Alpha Observation Zone
Alpha Observation Zone is an area where Binance will categorize emerging and trending tokens in the market. Some tokens in this category may have high price volatility, in addition, projects with exclusive TGE on Binance Wallet will be included directly in this area.
The Binance Listing Team will continuously monitor the performance of projects here to assess their listing potential.
Binance may remove any project from this category if it detects poor performance and decreased user demand.
Conclude
With the new mechanisms, Binance is giving the community autonomy to list and delist projects, providing more opportunities for users to access potential projects.
“ We aim to foster a sustainable cryptocurrency industry by improving token pricing and distribution models, better aligning the interests of communities, investors, and projects. By supporting early and mid-stage projects , we help them gain exposure and visibility in the market,” Binance said.
