The Binance platform has announced new features designed to enhance transparency regarding token information. This initiative will allow users to better understand token distributions and the associated risks of trading.
New Binance Features
Binance has introduced several new features aimed at creating a more transparent trading environment for tokens. Users will now be able to see how many tokens of a project are locked, which will aid in assessing their vesting schedules.
Token Concentration Indicator
A key addition is the Token Concentration Indicator. It shows how much of a token’s supply is controlled by the project team, including those held directly on Binance. This information was previously hidden from users.
Binance's Response to User Feedback
Binance co-founder Yi He stated that the feedback from users has been the basis for these changes. The company hopes that the new features will set a standard for transparency among centralized exchanges and promote wider adoption of these principles in the industry.
The new features from Binance, such as the Token Concentration Indicator and locked token data, will enable users to better understand trading dynamics and reduce risks associated with trading digital assets. This is a significant step towards a more transparent and sustainable crypto industry.
