Binance Empowers Community with 'Vote to List' and 'Vote to Delist' Features
Binance has introduced new features, Vote to List and Vote to Delist, enabling its community to influence token listings and removals. This move comes amidst scrutiny over recent listings, notably newer meme-driven projects.
The new Community Co-Governance Mechanism allows users to vote on select tokens' fates, both new listings and potential delistings. Binance retains final authority, with community votes serving as a feedback mechanism. Only projects in Binance's Alpha Observation Zone are eligible for voting, and internal due diligence remains crucial for token candidates.
The first election on the list of eligible projects is scheduled for October 2023. Projects demonstrating significant community contribution will be included in the Binance Community Contribution Mechanism. If implemented transparently, this voting system could restore trust and set a new standard for exchange governance, marking a shift towards user-driven decision-making in the crypto sphere.
Binance's new voting features, Vote to List and Vote to Delist, give users a say in token listings and removals. While Binance maintains final authority, this move could help rebuild trust and establish a new norm for exchange governance. The first community election is set for October 2023.
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