On April 16, Binance plans to remove 14 cryptocurrencies from its platform as part of its continued efforts to maintain quality on the platform. This is the exchange’s first-ever “vote to delist” process, where the community voted on which project(s) have fallen off Binance’s standards.
The team conducted an in-depth analysis of the projects mentioned. The team’s commitment and activity, project development, liquidity of the token in the market, trading volumes, and response to Binance requests about the token were some of the key factors taken into account.
More importantly, being compliant with changing regulatory requirements was critical for the review.
The tokens slated for removal are
The tokens that were set to be removed include Badger (BADGER), Balancer (BAL), Beta Finance (BETA), Cream Finance (CREAM), Cortex (CTXF), Aaelf (ELF), Firo (FIRO), Kava Lend (HARD), NULS (NULS), Prosper (PROS), Status (SNT), TROY (TROY), UniLend (UFT), and VIDT DAO (VIDT).
Throughout the past year, Binance has utilized stricter listing standards against investor protection. We now expect projects to deliver more. For example, demonstrate long-term value, transparency, and a plan to stay alive.
With the growing number of new coins on the market, it is increasingly difficult for investors to find something credible and sustainable. Binance wants to make the trading environment better for investors by improving its token listings.
This latest initiative highlights how Binance’s approach is changing to safeguard interests. By taking user opinions into account when removing tokens, the exchange is showing a different way for marketplaces to combine decentralization with accountability rather than the other way around.
