"Binance requires 15% of the total token supply." "If the project does not pass the screening process, no matter how much money or what percentage of tokens, they cannot list on Binance."
Written by: shaofaye123, Foresight News
Listing fees at exchanges have always been a focal point of industry attention, and discussions on whether there are indeed exorbitant listing fees are not new. In 2018, Binance was questioned about requiring a $1 million listing fee for tokens. Other exchanges also became involved in the topic, with figures like 10 ETH, 20 BTC, 500,000 Tokens, making it difficult to discern truth from falsehood. Binance also announced in October 2018 that it would make listing fees transparent and donate them to charity. In 2022, due to the MITH deposit refund incident, Binance's listing fees again fell into the whirlpool of public opinion. Recently, with the CEO of Moonrock Capital exposing a $100 million listing fee on Twitter, rumors and denunciations of Binance's exorbitant listing fees have become the center of attention once again.
Event Timeline
On November 1, the CEO of Moonrock Capital, a cryptocurrency-native consulting and investment firm, spoke on Twitter. He claimed: Binance requires a certain potential project to provide 15% of its total token supply in order to ensure its listing on the centralized exchange, which accounts for 15% of the total token supply, valued at approximately $50 million to $100 million.
Subsequently, the event began to escalate, with the post viewing numbers exceeding one million, and more and more KOLs started to participate in denouncing or supporting.
Coinbase co-founder Brian Armstrong also issued a statement on this matter, claiming, "Coinbase's listing is free."
However, Coinbase, which intended to showcase the spirit of decentralization and fairness through this incident, was quickly exposed for not only charging listing fees but also for substantial amounts.
Sonic Labs co-founder Andre Cronje claimed on Twitter, "Binance does not charge listing fees, but Coinbase has repeatedly asked for fees, quoting $300 million, $50 million, $30 million, with the latest quote being $60 million." This response sparked widespread discussion, and the situation intensified. Some questioned whether Andre might have contacted fake Coinbase listing workers, to which Andre stated he could provide all evidence for public verification. "I did not sign a non-disclosure agreement, so I am very willing to provide relevant proof (the asking prices came from multiple Coinbase employees/departments, raised over the years through email, Telegram, and Slack). Coinbase can argue that this is not a listing fee but a profit fee (Earn Fee), but it still translates into the project's listing cost."
He Yi responded
The discussion remains highly active, and Binance co-founder He Yi responded, claiming there is no so-called listing fee, and the airdrop ratio and rules in cooperation with project parties are clear and transparent, and the listing eligibility will not be determined by whether the project party provides tokens. Additionally, Binance has a strict listing screening mechanism.
He Yi stated on Twitter, "
FUD If the project does not pass the screening process, no matter how much money or what percentage of tokens, they cannot list on Binance.
DYOR Projects already listed on Binance have clear introductions in the token distribution section; please analyze the percentages yourself to see if there is so-called 20%, 15%, etc.
Airdrop The rules for airdrops in Binance's launchpool and other listing projects are transparent and clear, but this does not mean that projects willing to provide airdrops can all list on Binance. If you have 20% of tokens and want to collaborate with Binance for an airdrop, feel free to cooperate with our web3 wallet.
FUD will never disappear, but it makes us stronger. Gossip can easily attract traffic, and business competition is always filled with dark sides; when you understand the rules of how this world operates, you will no longer be easily swayed by rumors, gaining the ability to think independently.
People like AC, who dare to speak the truth amid the noise, are the ones truly deserving of respect in the community.
Regarding listing fees, KOLs and the public have differing opinions. Some believe that listing fees are part of the operation of exchanges and can serve as a way to filter project quality. Others believe that listing fees may hinder some potentially promising projects due to lack of funds, thereby affecting market diversity and competitiveness.
Looking at the industry development through listing fees
In 2018, 2022, and 2024, it seems that the controversy over listing fees is raised every few years. Cryptocurrency is centered around the spirit of decentralization, yet the listing fees of centralized exchanges remain shrouded in mystery. From a business perspective, it may be reasonable for exchanges to charge certain listing fees as they need to invest resources to evaluate projects, ensure compliance, and maintain platform operations. However, the collection of fees should be transparent and fair, and excessively high fees should be avoided to prevent hindering innovation.
The ongoing controversy over listing fees reflects the strong demand from practitioners for transparency and fairness. Binance's proactive response has alleviated market concerns to some extent, highlighting the necessity for exchanges to be more transparent and fair in their listing policies. However, the industry's development should not stop at listing; project parties should focus more on the quality and sustainability of their projects. The attention to listing fees at each stage is a demand for a fairer and more transparent market environment. This often signifies the emergence of new turning points, where truly valuable projects need to stand out.
