Binance, the world's largest centralized cryptocurrency exchange, introduces a new community co-governance structure that empowers users to influence token listings and delistings.
Binance's Community Co-Governance
Binance’s community-driven governance model allows users to vote on whether certain tokens should be listed or delisted. The new 'Vote to List' and 'Vote to Delist' mechanisms involve the community in key decisions about token inclusion and removal from the platform.
Vote to List Mechanism
The 'Vote to List' mechanism enables Binance users to cast votes for projects they believe should be included on the platform. Users must hold at least 0.01 BNB in their accounts to vote. Projects in the Alpha Observation Zone and other vetted candidates are eligible for voting. If a project receives enough votes, it undergoes Binance’s due diligence process to meet the platform’s standards.
Binance’s Enhanced Listing Mechanism
In recent months, Binance introduced new ways for engaging with projects before their exchange listing. Features like Launchpool, Megadrop, HODLer Airdrops, and others allow users early exposure to innovative projects, enhancing user engagement and community growth.
The introduction of community co-governance for token listings and delistings enhances user involvement on Binance, fostering transparency and participation in decision-making processes.
