Binance has expanded its monitoring tags to include five more tokens: EPX, FOR, UNFI, WAVES, and WNXM, and traders must pass a quiz and agree to the terms and conditions.
Binance, the largest cryptocurrency exchange, said it will expand its monitoring tags to include EPX, FOR, UNFI, WAVES, and WNXM starting April 3, 2024. Monitoring tags are designations given to tokens that indicate higher volatility and risk. Comparison with other listed tokens.
Tokens tagged with monitoring are regularly reviewed by Binance to ensure they meet the exchange’s stringent listing criteria. This ongoing evaluation evaluates a variety of factors, including the team’s commitment to the project, the level and quality of development activities, trading volume and liquidity, network stability and security, public communication, and response to due diligence requests.
To trade tokens marked with a monitoring tag, users must pass a quiz every 90 days on the Binance Spot and/or Binance Margin platforms. This quiz is designed to educate users about the risks associated with trading these volatile tokens. Additionally, users must agree to the Terms of Use before accessing these tokens.
Monitoring tags for EPX, FOR, UNFI, WAVES and WNXM can be viewed on their respective trading pages and market overview pages on the Binance Spot and Margin platform. For every token with a monitoring tag, a risk warning banner is also displayed to ensure users are fully aware of the risks involved.
Binance conducts regular project reviews and may decide to add or remove monitoring tags based on its latest findings. The exchange’s goal is to contribute to a healthy and sustainable cryptocurrency ecosystem, promoting transparency and long-term growth.
It is important to note that adding monitoring tags to these tokens will not affect other services associated with them. Monitoring tags for EPX, FOR, UNFI, WAVES and WNXM will be updated shortly after this announcement is made.
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