# ❖ ● Introduction
In the short two months after the new year, the cryptocurrency world has undergone tremendous changes. The market, trends, and directions all have new hot topics every day, but ultimately, they all boil down to one reason: the lack of liquidity.
In recent days, Binance has undoubtedly been at the center of attention. As a leading enterprise in the market, every move is monitored by everyone. As the founders of Binance, CZ @cz_binance and the main person @heyibinance have undoubtedly become the focal points of this storm and the outlet for all market sentiments.
Just like the tweet the main person posted today, she has tried all directions, but each direction has its users' curses and dissatisfaction. The voices are too many and too mixed, making it indeed difficult to decide. Perhaps she is feeling helpless.
As for me, someone at the bottom of the user layer in the cryptocurrency world, I want to share some of my views: What should Binance do?
# ❖ ● Three-tier Concept
Whether it is a regime, enterprise, or organizational institution, I believe they can be divided into three levels: decision-making layer, execution layer, and user layer.
Taking Binance as an example, it is easy to understand that the decision-making level consists of leaders, with CZ as the main person, alongside the board of directors, which is just those few people who hold decision-making power.
The execution layer is the executor of decisions, simply put, the employees of the company, from executives to staff, all belong to the execution layer.
The user layer is also the ultimate audience of this company.
Using a three-tier pyramid structure can help understand it well: the decision-making layer is the master of the enterprise, capable of determining the enterprise's life and death. The execution layer determines the development and specific situation of the enterprise. And the users are indeed at the bottom of the entire structure, but they are also the most indispensable existence, as they are equivalent to the foundation of the entire enterprise.
# ❖ ● The Current Situation of Binance
Under the vigorous promotion of CZ and the main person, BNB Chain indeed saw a surge in trading volume, but it did not last long. Without ongoing narratives and applications, it is indeed very difficult to maintain users' attention. After all, platforms like PumpFun are not doing well, so how could their numerous imitations attract traffic?
The cryptocurrency market is indeed an effect of tracking hot topics. Wherever there is a wealth creation effect, users will be there. Aside from spot contracts and on-chain transactions becoming the basic functions of trading, it is indeed very difficult for other applications to develop to this status.
In recent days, the main person's response to user feedback and Sisi's reminder in some groups about FDUSD losing its peg has made the vast user base of the execution layer feel the inequality of information and the different treatment from the decision-making and execution layers, provoking dissatisfaction among people.
I actually have a good personality of believing in others, meaning I am willing to believe that others' original intentions are to do good. Regarding the series of actions from CZ and the main person, I always believe they want to make BNB Chain bigger and stronger. However, it is indeed difficult to please everyone, and based on their recent activity levels, with thousands of messages bombarding them daily, it is indeed very hard to handle each one perfectly. If it were me, with so much information every day, I wouldn't even be able to read it all, let alone process it.
As for the messages sent by Sisi, they indeed represent an execution layer, and as a public-facing execution layer, they should have more sense of responsibility, treating every user as a core user. As a user, this approach is not problematic, but representing Binance in every action does get magnified infinitely.
Also, regarding the recent voting on coin listings and removals, why were there two votes but ultimately four coins listed? Why didn't the ones I supported get listed? Binance's coin listing strategy does indeed have its biases, but listing too many will get criticized, and listing too few will also get criticized. This kind of market behavior has nothing to be angry about; after all, if it were you making the decisions, you would also have to make choices. It’s just about the judgment in your choices regarding what to take and what to leave.
# ❖ ● Some Suggestions
Regarding user feedback, CZ and the main person should also feel the pressure recently. There must be a mountain of messages on Twitter every day, and it seems unrealistic for Twitter to invite a few people to assist in its operation. There will always be oversights. I also do not know the initial reasons why Binance gradually abandoned Twitter business or paid less attention to it.
But since Twitter is no longer Binance's main battlefield, why not add a functional entry in Binance Square specifically to collect user feedback and suggestions, and promptly update some valid feedback and suggestions received on various media channels such as the official Twitter and Square accounts?
If some good feedback and suggestions are reflected in the subsequent major version updates of the functionality, providing some benefits to those users who provide feedback and suggestions, then the dialogue between the user layer, the execution layer, and the decision-making layer will be fair.
I have always believed that both the decision-making layer and the execution layer basically hope for the good of the entire company. The bad lies in the execution layer. A lesson learned is the Binance wallet, and this reminds me of the domestic Xiaopeng Motors, where the entire procurement department was laid off, bringing Xiaopeng Motors back from the brink.
Many times, Tencent adopts internal competition, which one performs better will survive, and the rest will be eliminated directly. Although this is quite inhumane, it is indeed very effective many times. If I were the CEO of Binance, I would need to investigate the issues within the entire wallet development department. Those who need to leave should leave. After all, so much money has been spent, and in the end, such a thing has been produced. Although the cryptocurrency industry indeed has high salaries, it is also quite outrageous.
Just like the news I saw today, the chain game ecosystem TreasureDAO is facing restructuring. A team with a valuation of twenty million dollars has an annual operating cost of ten million dollars, with an average salary of over 150,000 dollars. So, Binance, do you understand now? It is time to clean up these kinds of vampires.
As for the listing of coins and the construction of BNB Chain, I have no thoughts. Just like when I bought a lot of $Parti, many people may not understand and many will call me foolish. In this market, buying or selling, listing or not listing, is a choice made by someone, and where there are people, there will be more or less subjective consciousness. This cannot be changed.
I will not be angry because Binance lists a certain token, nor will I curse because Binance does not list the projects I hold. You cannot change the market; what you need to do is change yourself, adjust your strategies and perceptions, and find those tokens that Binance is inclined to list and support. That is what you should do.
As for the construction of BNB Chain, I have no say. Bitcoin, as the faith in the cryptocurrency world, has also successfully transformed into a safe-haven asset, but it is also draining the entire cryptocurrency market. I believe one of the not too significant reasons for the lack of liquidity is that Bitcoin is draining liquidity, drawing blood from this pool, resulting in the current overall market situation being merely a transfer from yours to mine, from mine to his, within this circle. How can the construction of BNB Chain rob some cake from other ecosystems? This is what the decision-making layer should be troubled about.
# ❖ ● Conclusion
Rather than letting the tail grow too big, it is better to cut off the hand. Rather than a slow death, it is better to be placed in a desperate situation and then be reborn. Moreover, it is not yet at the point of life and death.
Can Binance do well? I believe it can, and I also hope that Binance can shift its attitude from top to bottom, rather than just having the founder tirelessly promote it, only to be knocked down by the execution layer behind. Attitude determines everything; the execution layer needs to suppress, and the user layer needs to soothe. Users are your foundation; if you do well, keep going; if not, you should leave. Only then can we truly achieve the great rejuvenation of BNB Chain.
