Binance is rolling out a new co-governance model, enabling users to influence the listing and delisting of tokens.
What is Binance's Community Co-Governance?
Binance's co-governance model allows users to vote on token listings and delistings. This initiative responds to the growing number of new tokens, aiming to maintain quality listings and manage risks.
How Does the 'Vote to List' Mechanism Work?
The 'Vote to List' mechanism lets Binance users vote for new projects. Users must hold at least 0.01 BNB to participate, with only vetted projects eligible for voting. Successful projects undergo thorough due diligence by Binance. Projects can also self-nominate for listing consideration.
'Vote to Delist': Keeping the Platform Clean
The 'Vote to Delist' mechanism allows users to vote for the removal of tokens that underperform or pose risks. Tokens with inactive communities, lack of updates, or standards compliance failures may be removed, ensuring only high-quality projects remain.
Binance's co-governance initiative aims to enhance platform quality and support the responsible growth of the crypto market.
