At the beginning of February, the former CEO of Binance ChangPeng Zhao criticized the process of extracting new cryptocurrencies on the platform. So he said he considered this process “a little defective”. A note that seems to have caused the new platform leader to respond. In fact, he just announced the process of community extract.
- Binance introduced the process of community extract in response to criticism of its former CEO ChangPeng Zhao.
- Users will be able to vote to add or remove cryptocurrencies through the new “Voting Voting” mechanisms and “Voting on excretion”.
The community called to vote as part of the list
So far, Binance has been the only master on board in terms of list, specifically adding new cryptocurrencies to its platform. The procedure criticized by its former CEO and part of the community.
In the publication of 7 March, Binance expresses that he has the heart to listen to his users. This announced the upcoming introduction of a new mechanism.
“Binance growth and success are inseparable from the community and your comments continue to help us develop. The community recently told us about many rare designs. »»
Therefore, Binance announces to update your list processes. Binance thus introduces mechanisms “Vote on the list” and “Voting on the elimination”. Aim “To allow greater community participation and provide users a stronger vote in the Registration process”.
On the one hand, as the name suggests, procedural votes to the list will allow Users who will vote for their favorite projects they want to see to add to the platform. Subsequently, the projects that have won the most votes and which will be subject to previous checks will be listed on binance. For voting, users will have to hold at least 0.1 BNB in their main binance account.
On the other hand, the process of vote on the delist will allow users to see projects that are in Monitoring zone Binance. These are projects that have not been able to release a product that lacks communities or developer teams. Users will again have to vote for projects that must be removed from the platform.
More information should be communicated in the coming weeks when precise processes were defined.
Different List Mechanisms
We remind you that projects have a number of options to be listed on binance. In fact, it offers this statement from the token budget, which allows binance to distribute these tokens to its users through one of its mechanisms. However, Binance does not have a list fees and does not occupy any share in these tokens.
Thus, this budget on the token list can be distributed via Launchpool, Megadrop platform, Hodler AirDrops, market in front of the market, or through a direct list of overhead markets.
Recently Binance downloaded several stables from its platform to comply with new European regulations. No wonder this was the case with USDT in Tether, who is trying to follow the laws of Sica.