Binance: Users Will Now Decide Which Cryptocurrencies To List And Delist

Binance, although a centralized crypto exchange, is moving towards greater decentralization with its brand new participatory governance system. Now, users can vote to list or delist digital assets, directly influencing the market. This initiative aims for more transparency and increased community engagement. But what are the concrete impacts for investors and the projects involved? Let’s dive into the details.

Binance revolutionizes listing with community voting

After the announcement of the withdrawal of several stablecoins in Europe, the CEX giant introduces two new features: “Vote to List” and “Vote to Delist”. To vote, one simply needs to hold at least 0.01 BNB. Thanks to this mechanism, projects with strong community support will be able to emerge on Binance, while ghost cryptos risk being ejected.

But not everything is that simple. If the idea seems democratic, the reality could be quite different. Indeed, projects with large communities will have an undeniable advantage, leaving the small newcomers out in the cold. As CZ himself pointed out:

“ Voting by number of users favors large communities. Voting by value favors whales and large capitalizations. There will always be discontent. ”

To make things more transparent, Binance now displays listing budgets and distributes the planned tokens in the form of airdrops. Other new features include exclusive opportunities via Binance Wallet and early access to handpicked Web3 projects.

A real boon for investors? Or a playground for the big players?

The era of choice: will the community really be able to dictate listings?

User involvement could redistribute the cards of the crypto market, but several questions remain unanswered. Will high-potential altcoins truly benefit from this update, or will we see a tidal wave of meme cryptos? Because let’s be honest, the power of communities is immense, and some whimsical currencies may make the rules.

Key points of this new system:

• A vote requiring at least 0.01 BNB per user;
• A selection of projects entering a “vote pool” before being listed;
• A monitoring of inactive or suspicious cryptos via the “Monitoring Zone”;
• The removal of price caps on Pre-Market Trading;
• Exclusive events for Binance Wallet holders.

Ultimately, this mechanism could strengthen the credibility of the crypto exchange by eliminating dubious projects.

But how to prevent vote manipulation by organized groups? The future will tell.

Decentralization or illusion? The limits of the participatory model

If we believe Binance, the goal is clear: “ Close collaboration with the community creates greater value for users and project teams. ”

However, some fears are emerging. What if the promised decentralization is just a facade?

Delisting a crypto will be subjected to the same rules as listing: community vote and validation by the exchange. However, some projects might find themselves excluded not for legitimate reasons, but simply due to a lack of popularity. Not to mention the infamous “whales,” those big investors capable of influencing the market with a few million.

New tools like Launchpool, Megadrop, or Pre-Market Trading bring great opportunities. But it remains to be seen if this will benefit everyone or just a handful of privileged individuals. Binance wants to strengthen its ecosystem while providing more control to users.

Successful bet? It’s still too early to say.

Already, in mid-February, Binance tested this model with a massive vote on the Pi Coin, yet did not allow the community to decide definitively. A rehearsal before implementing total governance?