The largest cryptocurrency exchange, Binance, is revising its process for adding new tokens, giving the community a voice. Now users will be able to vote for the addition or removal of certain assets, influencing the formation of the list of available trading pairs.
Criticism of the listing process
Former co-founder and ex-head of Binance Changpeng Zhao criticized the existing listing mechanism, calling it imperfect. He noted that new tokens often see a significant price increase on decentralized exchanges before being added to centralized platforms like Binance. However, after that, they face a wave of selling, which negatively impacts their value.
Coinbase offers a different approach
The issue of listing new assets is relevant not only for Binance but also for Coinbase. The company's head, Brian Armstrong, suggested switching to a blacklist model that will allow automated algorithms and users to filter out fraudulent projects.
According to him, nearly a million new tokens appear each week, making it impossible to check each one manually. "Regulators also cannot keep up with such a huge number of new assets," Armstrong added.
How will these changes affect the market?
The new voting mechanism at Binance may increase the transparency of the listing process, making it fairer. At the same time, the proposed Coinbase blacklist model will help fight fraudulent tokens more effectively, reducing risks for users.
