The world’s largest centralized exchange, Benance, has announced a community co-governance structure that allows the bennese users to vote on the platform to list or remove them.
As AnnouncementBinance will choose projects on which the community can vote. The most obtained tokens will be listed on the banns after proper hard work from the Centralized Exchange Company.
Projects that fail to provide regular progress updates or necessary token information, attach to maliciousness, or passive developer teams and communities will be placed in the “monitoring zone” of the platform.
Once the projects are in the monitoring sector, members of the Binance community can vote to separate these projects from the platform.
The announcement follows a exponential increase in the amount of new cryptocurrency tokens and projects, which is now a number of tens in millions.
Total number of unique crypto tokens over time. Source: Dune
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Many tokens cause major exchanges to reconsider the listing procedures.
Coinmarketcap painted cryptocurrency less than 11 million on 8 February. At the time of this writing, the number of unique digital assets listed on the website has increased to 12.4 million.
Some market analysts believe that rapid growth in new token listings competing for limited capital and investor attention has a thin impact on crypto prices and may also prevent the weather of AltCoin during this market cycle.
Coinbase CEO Brian Armstrong said that the coinbase should reconsider its token listing process on 24 January X PostArmstrong wrote:
“We need to re -prepare our list process [roughly] 1 million tokens are now being built in a week, and there is a growing-high quality problem-but it is no longer possible to evaluate each one by one. ,
“Regulators need to understand that applying for approval for each is also completely disqualified at this point,” the CEO continued.
Armstrong eventually concluded that the exchange was required to pive for a “permission-list” and a “block-list” structure, partially depending on community reviews and onchen data, in which to determine that new projects to list the new projects on the US-based centralized exchange.
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