#币安投票下币 An made a big move today, officially launching a new way for users to vote on which currencies to delist. #币安投票下币

In simple terms, they gave ordinary users the 'power of life and death', but this power is in quotes.

Now, as long as you have at least 0.01 BNB (worth a little over 5 dollars) in your Binance account, you can vote for 5 projects that have been tagged for monitoring during the period from March 21 to 27, with each project only able to receive one vote.

But don't get too excited; this vote is just a reference. The final decision still lies with Binance, who will consider several factors, such as whether the project team is working seriously, if the trading volume is manipulated, how many security vulnerabilities exist in the code, and even whether the project team responds to emails in a timely manner, among other details.

In short, this is a form of democratic centralism, allowing the masses to vent their emotions first, while the leaders ultimately make the decision.

Personally, I think this mechanism has both advantages and disadvantages. The benefit is that it can finally make the process of listing coins on exchanges more transparent; previously, many worthless coins clung to exchanges without being delisted. Now users at least have a channel to voice their opinions.

However, the problems are also apparent; large holders of BNB may manipulate the votes, and project teams might create fake accounts to vote.

Fortunately, Binance executive He Yi has publicly stated that they will clean up cheating votes, although they haven't clearly explained how this will be done.

For ordinary users, there are a few points to note: First, don't just vote randomly because you dislike a certain coin; take a careful look at whether the project team has made substantial development progress, and don't let emotions lead you astray;

Second, don't think that once you vote, the job is done; the final list of delisted coins may take several weeks to be announced;

Third, some coins that have already been announced for delisting may not even be in the voting pool, so voting for them would be pointless.

The most interesting point of this reform is that Binance has quantified the delisting criteria to look like a KPI assessment sheet.

From team stability to community sentiment, everything is scored, and even a sudden surge in token supply may become a reason for delisting.

This indicates that exchanges are beginning to use data governance to replace subjective judgment; although the process is cumbersome, it's better than opaque operations.

However, whether this mechanism can prevent manipulators from exploiting the situation will need to be observed based on the market reaction after the first batch of delistings results come out. #币安投票下币