Binance, the world’s largest centralized exchange, has announced a community joint government structure where Binance users can list or vote on tokens on the platform.
According to the announcement, Binance will choose a project that the community can vote. The most votes tokens are listed in Binance according to the due diligence of the central counterpart company.
Regular progress updates or failure to provide the necessary token information, or participate in malice, or inactive developer teams and communities are placed in the “monitoring area” of the platform.
If the project is in the monitoring area, the Binance community member can vote to list these projects on the platform.
The announcement is that the new Cryptocurrency tokens and projects have increased exponentially, reaching tens of millions of people.
Over time, the total number of encryption tokens. source: sand dune
relevant: On March 31, Bino is listed in Europe in Europe.
Too many tokens will reconsider the list procedure.
CoinmarketCap showed less than 11 million cryptocurrencies on February 8. The number of unique digital assets listed on the website at the time of this article increased to 14.4 million.
Some market analysts believe that the rapid surge in new token listings that compete for limited capital and investors’ interests can be diluted with encryption prices and can prevent altcoin season during this market cycle.
Coinbase CEO Brian Armstrong said on January 24 that Coinbase should rethink the token list process. Armstrong wrote:
“We are currently developing 1 million tokens a week, and high quality problems are increasing, but each evaluation can no longer be realized.”
“The regulatory authorities should understand that it is completely irrelevant to apply for each approval at this point,” the CEO said.
Armstrong concluded that ultimately, the exchange should be pivoted with a “block list” structure that partially reviewed the “allowable list” and “block list” structure and depends on the onChain data.
magazine: Coinbase and Base: Is Crypto a traditional finance 2.0?