Binance launched its first 'vote to remove listing' campaign, allowing users to influence the removal of digital tokens as decisions shift from internal-only to community governance in token listings.
Start removing tokens: Binance empowers users with the vote to remove listing feature.
The cryptocurrency exchange Binance took another step in its community governance roadmap by launching its first 'vote to remove listing' campaign on March 21, hosted on the Binance Square platform. These developments follow the recent launch of the 'vote for listing' initiative, both part of an increasing effort to involve users in listing-related decisions. These mechanisms represent a shift in Binance's approach, which previously relied solely on internal assessments.
The vote aims to remove the tokens marked with a watch tag - an indication that the asset may not meet Binance's standards. Binance explained:
When a coin or token no longer meets these criteria or when the industry landscape changes, Binance conducts a more in-depth review and may apply the watch tag to determine the potential for removal.
The launch of the 'vote to remove listing' aligns with the structures of modern 'vote for listing' but focuses on potential removals. The voting process opened at 6:30 AM UTC on March 21 and will continue until 11:59 PM UTC on March 27.
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Binance launched its first 'vote to remove listing' campaign, allowing users to influence the removal of digital tokens as decisions shift from internal-only to community governance in token listings.
Start removing tokens: Binance empowers users with the vote to remove listing feature.
The cryptocurrency exchange Binance took another step in its community governance roadmap by launching its first 'vote to remove listing' campaign on March 21, hosted on the Binance Square platform. These developments follow the recent launch of the 'vote for listing' initiative, both part of an increasing effort to involve users in listing-related decisions. These mechanisms represent a shift in Binance's approach, which previously relied solely on internal assessments.
The vote aims to remove the tokens marked with a watch tag - an indication that the asset may not meet Binance's standards. Binance explained:
When a coin or token no longer meets these criteria or when the industry landscape changes, Binance conducts a more in-depth review and may apply the watch tag to determine the potential for removal.
The launch of the 'vote to remove listing' aligns with the structures of modern 'vote for listing' but focuses on potential removals. The voting process opened at 6:30 AM UTC on March 21 and will continue until 11:59 PM UTC on March 27.
Binance invited users to participate in determining which of the watch-tagged tokens they believe should be removed from the platform:
In the future, Binance will experiment with a new delisting mechanism based on community input. We now invite users to participate and vote on the first batch of 'vote to remove listing' projects under the official post on 'Binance Square Official'.
While the voting results will be published in real-time, they will not be binding as final decisions will remain subject to Binance's internal review protocols.
Users must hold at least 0.01 BNB in their verified accounts to qualify for voting. 'Each user can vote for up to 5 projects in the vote to remove listing group during the voting period, and each verified account can allocate only one vote per project,' Binance clarified. Votes that violate the terms or come from prohibited countries - including the United States, Germany, Singapore, and others - will be excluded. Binance confirmed it reserves the right to interpret or change the program's terms and emphasized that cheating or abuse will lead to disqualification.
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