Key notes
- Binance introducing a community voting system for the cancellation of tokens.
- This decision follows criticism on the recent lists of coins.
- Binance is setting up five tokens, which are not eligible for the new voting initiative.
The leader Crypto Exchange Binance deploys a new system focused on the community which allows users to vote on tokens that should be deleted from the platform. This decision comes in response to growing criticism of the recent lists of the same exchange coins.
The recent boom in the same part saw a wave of token lists in the main exchanges, including Binance. However, several of these tokens, some of some weeks, have since lost more than 85% of their advanced value.
This fueled the allegations according to which exchanges allow the first investors and initiates to unload their assets at swollen prices, leaving retail traders with substantial losses. In February, even the founder of Binance, Changpeng Zhao, admitted that the exchange registration process was “little broken”.
As a result, Binance moves to a more transparent and democratic radiation process. You can now participate in the newly introduced “Voting To Delist” program on the official Binance Square platform.
Participation criteria
To participate, you must meet certain criteria: they must contain at least 0.01 BNB in their accounts and be connected to their verified binance profiles. There is a voting limit per project, with a maximum of five votes per user.
In particular, cryptocurrencies that have already been announced for withdrawal will not be eligible for the vote.
Although the voting results are displayed in real time, Binance said that the community’s contribution will not be the only factor determining the desires.
The exchange will also carry out an in -depth internal examination, taking into account the volume of negotiation, liquidity, development activity, network security, public communication and global transparency before making a final decision.
Binance approves five tokens
Meanwhile, Binance also revealed that she set up five cryptocurrencies after a routine assessment. The assigned tokens are Aergo (Aergo), Airswap (AST), Burgercities (Burger), Combo (Combo) and Linéaire Finance (Lina).
The exchange said that these tokens had not complied with regulatory standards. The cancellation will take effect on March 28 at 3:00 am UTC, after which all the trading points against the tokens will be deleted.
Binance’s term positions for Aergo, Lina and Combo will be automatically closed and settled by March 27 at 9:00 am UTC. After this date, the exchange will delete these Simple Get binance tokens and other investment products.
On March 28, 2025, Binance Convert & Trading Bots will no longer support the radiated cryptocurrencies. The exchange advised users to hold these assets to manage their positions before the deadline.
It is important to note that these tokens will not be eligible for the new voting initiative for implementation.
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Cryptographic journalist with more than 5 years of experience in the industry, Parth has worked with the main media in the world of crypto and finance, the collection of experience and expertise in space after having survived bear markets and bulls over the years. STHTH is also an author of 4 self-published books.
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