Binance will leverage community opinion on token listing, delisting
The exchange will make the final call on token listings
Binance completed its FIU registration in India last year
Binance users who wish to participate in the polls need to hold at least 0.01 BNB token
Photo Credit: X/ @Binance
Binance has announced that the first phase of its new “Vote to List” is now live. This means that Binance users can now participate in selecting which new tokens should be listed for trading on the platform. The first window for voting opened on March 19 and will close on March 26, the exchange informed its community. Through this feature, Binance expects to address the challenge of identifying legitimate crypto tokens from the flood of altcoins entering the market through community efforts.
The exchange has listed nine altcoins as part of its first ever batch of “Vote to List” tokens. These are – BANANAS31 (Banana for Scale), BID (CreatorBid), Broccoli (Broccoli), Broccoli (CZ'S Dog), KOMA (Koma Inu), SIREN (SIREN), mubarak (mubarak), TUT (Tutorial), and WHY (Why).
While most of these tokens are memecoins, all of them are based on the BNB Chain. In future voting rounds, tokens featured in the Binance Alpha list will also be included for community voting. The Alpha list is a selection pool for pre-listed tokens.
You asked for it, we made it happen!#Binance is excited to launch the first-ever Vote to List round, featuring BNB Smart Chain-Exclusive tokens!
Your voice matters – start casting your votes in the next 30 minutes and help shape the future of token listings! Find out more :arrow_heading_down:… pic.twitter.com/Ci3O441V9W
The exchange has, however, clarified that while it will take the poll results into consideration, it will make the final call to list tokens.
“Monitoring of the project is still undergoing evaluation, and the decision will be determined by Binance based on our official review processes and standards,” the exchange noted in its announcement.
Voters will also be able to mark tokens they wish to be delisted. More details on this are expected in the coming days. Binance users who wish to participate in the process need to hold at least 0.01 BNB token in their accounts.
Binance first disclosed details of this feature earlier this month. At the time it said it wishes to leverage community interest to promote a sustainable industry while also attempting to improve valuation models and token distribution.
Crypto projects that have completed their Token Generation Event (TGE)—the point at which a new token is created and first distributed—can submit a self-nomination application to be considered for listing in the voting pool.
The exchange will also be introducing a "Monitoring Zone" to flag tokens with inactive communities or lacking regular development updates. Early-stage projects that attempt to inflate token supply without proper processes or pose risks to investors will also be moved to this zone before potential removal from the platform.
In May 2024, the exchange completed its registration with India's Financial Intelligence Unit (FIU), which means its Indian users can also participate in the token listing and delisting polls.
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