Key Points
- Binance introduces “Vote to List and “Vote to Delist” mechanisms.
- The community will have greater participation and a stronger voice in the listing process.
Binance officially announced changes to its listing and delisting mechanisms that will allow higher community participation.
In its announcement, Binance said that it has always put users first and the community helps with the exchange’s growth and success.
Binance Enhances Listing/Delisting Mechanisms
Following multiple trials and evaluations, Binance will implement the following changes:
- When a project has a dedicated listing budget, Binance will disclose it in the listing announcement, continuing to distribute the budgeted tokens to users via airdrops.
- The exchange introduces the “Vote to List” and “Vote to Delist” mechanisms so that users can become more involved in the processes.
- Binance Wallet-exclusive TGE projects will get direct access to the Binance Alpha Observation Zone.
Binance also announced that it will continue its zero listing fees policy.
Binance’s Reasons for Enhancing Its Listing/Delisting Policies
With the moves mentioned above, Binance aims to offer users more opportunities to discover projects that have potential while ensuring that these projects meet quality, innovation, and regulatory standards for high compliance.
1. Community Co-Governance Mechanism
The crypto exchange highlighted the community input’s importance in its development, and as a result, it introduces two co-governance listing mechanisms:
Vote to List
- Users will be able to vote for their favorite projects for potential listing.
- Projects with the highest number of votes that pass due diligence will be listed on the exchange.
- Projects will be chosen by the exchange from the market and the Alpha Observation Zone to enter the voting pool.
- To be eligible for voting, users must have at least 0.01 BNB in their master accounts.
- Projects with completed TGE but are not yet in the Alpha Observation Zone will see a self-nomination application method applied.
Vote to Delist
Users will be able to vote on the delisting of projects in the Monitoring Zone.
The Monitoring Zone will include projects that:
- Lack product development updates
- Have inactive communities and teams
- Fail to regularly update progress
- Inflate token supply without due process
- Pose significant risks to users
- Fail to disclose relevant token information
Like in the case of Listing Votes, users must hold at least 0.01 BNB in their master account.
2. Binance Listings
- Binance Launchpool – Allows users to earn new project tokens for free by locking BNB (also decentralized BNB assets in Binance Wallet) and other tokens.
- Binance Megadrop – Integrates Binance Simple Earn with Binance Wallet, allowing users early access to Web3 projects before the official listing; users can lock BNB and complete Web3 tasks to earn points and rewards.
- Binance HODLer Airdrops – Distributes token rewards based on historical snapshots of BNB holdings in Binance Earn and On-Chain Yields products; by subscribing BNB to Fixed/Flexible Earn and On-Chain Yields products, users will be automatically qualified for rewards.
- Direct Spot Listing – This is supported for established projects with high potential that will gain exposure to the entire Binance user base of over 260 million registered users.
- Pre-Market Trading – It provides early access to tokens from Luanchpool, and users can trade them before the official Spot listing; users get a strategic positioning to earn profit, but they should also understand risks and eligibility requirements. Binance will also remove price limit restrictions.
The exchange offers these listing options to support users and project teams.
Project Requirements
Binance also listed some key project requirements:
- Undervalued market cap, but high potential to grow in Web3
- Strong product foundation with the ability to innovate
- Solid fundamentals and a sustainable business model
- Strongly engaged community of users
- Long-term vision for the future
- Responsibility and Compliance
3. Binance Wallet Alpha Observation Zone
The Alpha Zone includes:
- Newer and trending tokens, yet some projects could exhibit higher volatility
- Projects conducting exclusive TGEs on the Binance Wallet
The crypto exchange also highlighted that it will conduct periodic reviews on Alpha Zone projects to ensure that they have the requirements for listing.
Binance will consider upcoming listing projects from:
- Alpha Zone
- Vote to List
- Direct Spot Listing
Also, the exchange revealed that it may remove certain projects from Alpha Zone due to:
- Low performance
- Price decline
Binance’s Key Aim – Returning the Power to the Community
Binance concluded its announcement by highlighting the multiple listing opportunities that projects have, saying that its targets include the following:
- Promoting a sustainable industry
- Enhancing valuation models
- Improving token distribution
- Aligning interests of the community, retail investors, and projects
- Offer better exposure to early-stage and mid-sized projects
With all these policies, some of them well-established and other new ones, Binance aims to return the power to the community, while supporting new on-chain projects to gain traction, also benefiting the exchange’s on-chain ecosystem.
Binance was founded in 2017 and since then, it managed to build and maintain a strong culture, while advancing the crypto industry further despite all the hardships along the way – this is best mirrored by the exchange’s accomplishments over the years and over 260 million already registered users.
