Last week, an internal meeting discussed Binance's transition from a review-based system to a registration system, which will significantly enhance assets. By mid-year, it may open up to hundreds of projects, providing a great opportunity for projects that have not yet completed their TGE or are in poor TGE conditions.

Therefore, it is entirely reasonable to boldly speculate that this is not a selection of 3 out of 12 or 4 out of 12, but rather 6 out of 12 or even more.

The logic behind these selections, in my opinion, primarily involves four points: relevance to Binance, revenue, token structure, and market capitalization.

1. Relevance to Binance

First of all, over the past few years, Binance Labs (@yzilabs) has invested in a large number of projects, many of which have raised tens of millions and have a fully diluted valuation in the billions. Just last month, shortly after the BSC boom, I predicted that CZ aimed to dismantle the current valuation and pricing system because this system is not led by Binance.

Thus, the priority for listing on exchanges will definitely be given to projects that have a direct connection to Binance. Among these 12, the only one that meets this criterion is $Plume.

2. Revenue

Anyone related to VC should know what I'm talking about. Currently, most research teams at various exchanges are quite confused, so they adopt the safest approach, which leans towards the traditional method of 'looking at revenue' for secondary listings.

The most obvious example is the South Korean exchange, which recently listed the already cooled-down DeFi pioneer $Comp. We can infer from its data.