Key Points
- Binance extends the Monitoring Tag to include 11 tokens.
- The exchange removes the Monitoring Tag for Enzyme (MLN) and Horizon (ZEN).
In an official announcement, Binance revealed that it is extending the Monitoring Tag to include 11 more tokens today, July 1.
The tokens added to the Monitoring Tag list are the following:
- Balancer (BAL)
- Cortex (CTXC)
- PowerPool (CVP)
- Convex Finance (CVX)
- Dock (DOCK)
- Kava Lend (HARD)
- IRISnet (IRIS)
- MovieBloc (MBL)
- Polkastarter (POLS)
- Status (SNT)
- Sun (SUN)
Binance also announced the removal of 2 tokens from the Monitoring Tag list:
- Enzyme (MLN)
- Horizon (ZEN)
Tokens included in the Monitoring Tag list exhibit higher volatility and risks compared to the other listed digital assets. Such tokens are closely monitored by the exchange, and regular reviews are conducted for them.
Tokens with the Monitoring Tag applied are at risk of no longer meeting Binance’s listing criteria and they could be delisted from the platform.
To gain trading access to tokens with the Monitoring Tag applied, users have to pass the quiz every 90 days on Binance Spot and/or Binance Margin platforms, and accept the Terms of Use of the exchange.
Quizzes are set up to ensure users are aware of the risks involved before trading tokens with the Monitoring Tags applied. Users can find the tokens on the corresponding Binance Spot and Binance margin trading pages, and also on the Market Overview page.
A risk warning banner will be displayed with tokens that have the Monitoring Tag applied.
Binance conducts periodic reviews of projects
The exchange conducts periodic project reviews and decides whether the Monitoring Tag should be added or removed from tokens, according to the latest findings.
Here are the criteria considered during Binance‘s review:
- commitment of the team to the project
- level and quality of development activity
- trading volume and liquidity
- stability and safety of networks from attacks
- network and smart contract stability
- level of public communication
- responsiveness to the periodic due diligence requests
- evidence of unethical/fraudulent conduct or negligence
- contribution to a healthy and sustainable crypto ecosystem
Binance also revealed that other services to the tokens mentioned above will not be affected.
The exchange thanked users for their support in building the crypto ecosystem in a way that promoted transparency and long-term sustainable growth.
