Cryptocurrency exchange Binance is implementing a new listing model, giving the community the opportunity to participate in decisions about adding new cryptocurrencies by voting.
New Listing Model at Binance
Binance, the largest exchange by trading volume, is adopting an innovative approach to cryptocurrency listings. Now, the community plays an active role in listing decisions by holding BNB tokens. This step towards being more community-friendly is in response to the negative impacts associated with volume-driven listings.
How to Participate in Voting
The first voting round will begin tomorrow. Users wishing to participate must hold at least 0.01 BNB. Each account can cast a maximum of 5 votes, and each project is limited to just 1 vote per user. Voting will take place from March 20 to March 27, and investors will decide on listings for cryptocurrencies on the BNB Smart Chain.
List of Projects for Voting
It's important to note that in the first round, investors will determine listings for 9 cryptocurrencies. The full list of projects includes: BANANAS31 (Banana For Scale), BID (CreatorBid), Broccoli (Broccoli), Broccoli (CZ’S Dog), KOMA (Koma Inu), SIREN (SIREN), mubarak (mubarak), TUT (Tutorial), WHY (why). After evaluating the results, Binance will proceed with listings following the evaluation of two tokens. Future voting rounds will encompass all tokens on the Binance Alpha platform.
Binance's new listing model based on community voting paves the way for more democratic decisions. This emphasizes the exchange's commitment to becoming more user-focused and considering users' opinions when adding new assets.
