Interpretation of Binance's new coin listing mechanism and community feedback.
Looking at it, there are actually two points: 1. Voting for coin listings and voting for delistings; 2. Exclusive TGE direct access to alpha for Binance wallet.
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1. Voting for coin listings allows users holding a small amount of BNB to vote, selecting coins from the market and alpha to enter the pool. The selection of which coins enter the pool is made by Binance. Unlike before, if the votes are truly first or second, there is a high probability they will be listed directly on Binance. Previously, voting didn't guarantee a listing.
Voting for delistings refers to voting on coins in the observation area, expressing a desire to delist; it doesn't mean they will be delisted immediately. Binance will likely consider other factors. There is an interesting play where a button is added on the trading page, allowing users to click to delist, enabling long-term voting and listening to community voices!
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2. It seems that the exclusive TGE for Binance wallet will increase in the future. The last event, 74162416009, was very successful and can truly be considered a win-win, which also addressed the current issue of high market cap tokens, and it can definitely be done more often!!
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Currently, the external view on this voting isn't very optimistic, saying that Huobi did something similar before, and there could be vote-buying, with people buying ahead of time to rank higher. I feel that these concerns aren't valid.
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Regarding vote-buying, Binance needs to address this and can address it by taking snapshots before voting, requiring holding time, trading volume, trading frequency, facial recognition during voting, and other technical means, etc. However, if Binance wants data and to attract new users, it will be defaulted, and then it can only be a direct competition among project parties. What Binance truly needs to do is thorough due diligence!!!
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As for the issue of buying tokens ahead of time, this is even less of a problem. Now, with sudden announcements, bots can drive up market cap, providing retail investors even less opportunity. For voting, waiting until the rankings are high to buy will definitely reduce profits. When the voting list is first released, retail investors with vision can make more money by selecting wisely.
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Direct listings, pools, holders, megadrops, etc. are still ongoing, and the problem of high market caps still exists. The new voting system is only relatively fair; it is still recommended to focus more on wallet listings!! Give more opportunities to startup projects and users.
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How can we give startup projects a chance to be listed on Binance? What can we users do when project parties act maliciously?
