#Binance alpha's logic for listing projects has changed, and it's completely different from before.

In the past, when Binance listed projects, it mainly looked at on-chain data.

Project teams would desperately create on-chain interactions and fake data to get listed, while profit-seekers would come to engage in interactions and grab airdrops.

Then, in order to encourage these profit-seekers to help with data, project teams had to distribute tokens to them.

But that’s not the case anymore; Binance has realized this approach is ineffective.

Why? Because there could be a thousand addresses on-chain, but they might all belong to one person.

These profit-seekers aren’t depositing money into the exchange, and new users and new funds aren’t coming in.

For the exchange, the biggest fear in running a casino is having no one entering the game.

Now, Binance places importance on real-name KYC users.

Products like BN Alpha require you to use a real-name account to open a non-custodial wallet, ensuring that one account corresponds to one real-name user, with AI facial recognition essentially eliminating multiple accounts from profit-seekers.

From the exchange's perspective, real-name users are the valuable new users who can deposit, trade, and bring true liquidity.

Project teams aiming to get listed on Binance’s main site and BN Alpha have also changed:

They no longer cater to profit-seekers but rather to real-name KYC users.

As a result, airdrops are becoming rarer, and it’s increasingly difficult for profit-seekers to benefit.

Project teams are also no longer inflating on-chain data but are seeking ways to attract KYC users to participate, aligning directly with the exchange to secure listing opportunities.

Moreover, the overall market liquidity has worsened, the valuation bubble has burst, and there are fewer new entrants; nobody dares to buy at high prices.

Many projects may hit a peak market value of $100-200 million, and opportunities like those of the past in the tens or hundreds of billions are becoming increasingly rare, unless they are special projects like $TRUMP.

In summary, the logic of Binance for listing and airdrops has shifted from on-chain data to a focus on real-name KYC users and directing deposit funds.

We also need to change our mindset, no longer blindly engaging in on-chain interactions, but instead focusing on BN Alpha, BM main site projects, and real-name airdrop opportunities.