Binance Exchange has announced the enhancement of its listing mechanism through the introduction of “voting for listing” and “voting for delisting” mechanisms, aiming to increase community participation and empower users 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 be listed in the future. Projects with the highest number of votes and passing due diligence will be listed on Binance. However, not all projects will be eligible for voting, as Binance will select projects from the market and the Alpha observation area to enter the voting pool. More details will be announced after the mechanism is launched.
In addition, Binance emphasized that users must hold at least 0.01 BNB to participate in voting, although it is currently unclear if the amount of BNB held will affect voting weight.
Apart from listing, users can also vote to delist projects in the monitoring area. Projects that may be selected for the monitoring area include those with the following characteristics: lack of product development updates, inactive community and team, failure to update progress regularly, unjustified increase in token supply, or posing significant risks to users. Furthermore, Binance also stated that projects failing to disclose relevant token information will be moved to the monitoring area in the future.
Binance also emphasized in the announcement that it will charge fees to project teams, but these fees are not “listing fees” and are used to allocate tokens to Binance users as a form of feedback. Binance stated, “When a project has a specific budget for listing, 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.”