The post Binance Introduces Voting Mechanism for Users to “List” or “Delist” a Token, Gamifying the Platform ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.

Advertisement &nbsp &nbsp Binance will introduce a mechanism for users, holding a minimum of 0.01 BNB, to vote on whether a token is listed or delisted on the exchange. The new approach will be used on new listings and will be a way to engage with their customers positively. The announcement was made on Friday. The new system will have a “vote to list” and “vote to delist” option for users to decide what tokens are allowed on the exchange. Despite a large following promoting the Pi network, it hasn’t been approved yet. Before this system was introduced, Binance used information from social media to decide which coins were popular. However, this method was riddled with problems because people could artificially inflate a token’s popularity. Further, Binance has improved its standards for making such important decisions. Binance users will be able to vote on their favourite tokens and research whether a token should be on the exchange. Critics point out, however, that large groups could abuse the system by mass voting one way or the other. There is also a risk that bots could be used to promote faulty tokens.  With this new approach, Binance will be able to ascertain what its customers want rather than relying on social media data. It can also airdrop tokens for eligible users to provide incentives to use its exchange.  Advertisement &nbsp Binance’s Monitoring Zone will be used to list potential tokens to delist. Reasons to delist could include slow updates, inactive communities, and inflated token prices. Projects with high levels of risk could be candidates for the voting system. Tokens that do not provide relevant information could also be voted upon.  The proposed system will also include options to trade early for upcoming tokens and to benefit from mega drops.  These features aim…

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Filed under: News - @ March 9, 2025 12:20 pm