Binance Exchange has announced the enhancement of its listing mechanism, including the introduction of the “voting for listing” and “voting for delisting” mechanisms, in order to increase community participation and empower users with a stronger voice in the listing process. Binance stated, “The purpose of enhancing the listing mechanism is to provide users with more opportunities to discover potential projects, while ensuring that the projects meet quality, innovation, and regulatory compliance standards.”
Specifically, users will be able to vote for projects they like and want to see listed in the future. Projects that receive the highest number of votes and pass due diligence will be listed on Binance. However, not all projects will be eligible for voting. Binance stated that projects will be selected from the market and the Alpha observation zone to enter the voting pool. More details will be announced after the mechanism goes live.
In addition, Binance emphasizes that users must hold at least 0.01 BNB to participate in the voting. It is still unclear whether the amount of BNB held will affect the voting weight.
Apart from listing, users can also vote for the delisting of projects in the monitoring zone. Projects that may be selected for the monitoring zone may have characteristics such as lack of product development updates, inactive community and team, failure to regularly update progress, improper increase in token supply, or significant risks to users. Furthermore, Binance also emphasizes that projects that fail to disclose relevant token information will be moved to the monitoring zone in the future.
At the same time, Binance also emphasizes in the announcement that they will charge fees to project teams, but these fees are not “listing fees” and are instead used as a budget to reward Binance users. Binance stated, “When a project has a dedicated listing budget, we will disclose it in the listing announcement and continue to distribute tokens from the budget to Binance users through various forms of airdrops. Binance does not charge listing fees.”
