Binance, the largest cryptocurrency exchange, introduces a co-governance model, empowering users to influence token listings.
The Role of Binance's Community
Binance's co-governance model allows users to vote on token listings and delistings. The "Vote to List" and "Vote to Delist" mechanisms involve the community in key decisions, balancing innovation with responsibility.
"Vote to List" Mechanism: How It Works
The "Vote to List" mechanism enables users to vote for projects they deem fit for listing. Users need to hold 0.01 BNB to participate, and voted projects undergo a due diligence process. Projects may self-nominate for listing consideration.
"Vote to Delist" Mechanism: Platform Protection
The "Vote to Delist" mechanism targets underperforming or risky tokens. Participants with 0.01 BNB can vote on these tokens. Tokens with inactive communities or lack of updates are scrutinized.
Binance's co-governance engages the community in maintaining token quality and diversity on the platform.
