Binance, once a giant in the cryptocurrency field, now sees its TGE new launch returns continually declining, while Alpha points soar, and the operations behind it are indeed hard to commend.
First, let's look at TGE new launches. Early participants might still be able to get a share, but now, it's nearly impossible for ordinary investors to profit from it. As projects continue to be launched, the threshold for new launches has increasingly risen, while the returns are becoming less and less satisfactory. Once enticing high yields have now become a distant memory. Behind this, Binance may have overly relaxed its project review standards to attract more projects to launch, resulting in a flood of projects of varying quality that lower the overall returns from new launches. What is even more concerning is whether Binance is using TGE new launches as a gimmick to attract users, only to seek more profits for itself, such as charging high project listing fees, completely disregarding the survival of investors.
Let's talk about Alpha points. The requirements for points are getting higher and have evolved into a 'point game' that ordinary investors find hard to bear. Binance designed this points mechanism seemingly to incentivize user participation in platform activities and enhance user engagement, but it hides deeper issues. The continuous rise in the points threshold means that only those with substantial funds and frequent trading, such as large investors and professional studios, can easily meet the requirements, while ordinary small investors are ruthlessly kept out. This undoubtedly exacerbates market unfairness, concentrating wealth further into the hands of a few.
Moreover, the rules for obtaining Alpha points are complex, filled with various hidden clauses and restrictions that ordinary users may easily fall into. The validity period of the points is short, the difficulty of obtaining them is high, but the consumption is rapid, forcing users to continuously invest large amounts of time and money to accumulate points, while the final returns may be minimal. This mechanism, rather than rewarding users, is more about indirectly harvesting users' wealth.
Binance's actions in this series are quite unbecoming. It seems to have forgotten its responsibilities as a trading platform, blindly pursuing maximum self-interest while neglecting the vast number of users.