Binance Exchange is making a drastic change to its token listing strategy as it aims to pioneer greater diversity in the industry. in his last advertisementThe trading giant said it plans to start supporting small to medium value projects.
Binance Exchange is making a drastic change to its token listing strategy as it aims to pioneer greater diversity in the industry. in his last advertisementThe trading giant said it plans to start supporting small to medium value projects.
Why change Binance’s strategy?
Binance Exchange said it remains committed to driving sustainability across the board, and this involves stopping the predominant listing of highly capitalized projects. The exchange noted this disadvantage by predominantly listing high-value projects with low circulating supplies as a source of selling pressure. This, according to the trading platform, will not be good for retail investors.
Gamza KhanzadaevBinance is recognized not only as the largest exchange by volume, but also as one of the largest entities in terms of tokens supported. Listing on Binance is considered by many to be the pinnacle of a project’s growth.
Notably, since the lawsuit brought by the United States Securities and Exchange Commission (SEC) over its supported tokens, the trading platform has implemented further delistings, spanning most token pairs. The exchange’s latest push underscores its commitment to driving true growth of the broader ecosystem.
New modalities
According to Binance, project owners can request inclusion on its platform through any of its channels. The exchange said the listing could be direct, through its Launchpool or Megadrop outlets. However, the trading platform noted that to qualify for listing as a small or mid-cap project, applicants must have a Minimum Viable Product (MVP).
Binance also set the condition that potential projects must have an active team and a sustainable token allocation to the community. To take advantage of the listing leniency, Binance said projects from all sectors can apply.
Godfrey BenjaminBinance is known to pioneer new initiatives that other exchanges follow. A unique example is publishing Proof of Reserve (PoR) to show token holdings against customer balances.
