Monitoring Label
Novato
The Monitoring Tag is a tag used on the Binance platform to classify cryptocurrency projects that are relatively more established when compared to Seed Tag projects, which are in their early stages of development.
Tracking Tags are usually given to projects that have a working product and a certain degree of user adoption. Still, they also come with their own risks, including potential legal and regulatory issues, technological challenges, market volatility, and so on.
Binance uses these tags to help users make more informed decisions when dealing with cryptocurrencies, especially those that have been recently created or listed. However, it is important for users to do their own research and due diligence to reduce potential risks.
To foster a transparent and sustainable crypto ecosystem, Binance conducts periodic project reviews to determine which projects should receive these tags. Some of the criteria considered during such reviews include:
Project team commitment
Level and quality of development activity👍🏻
Trading volume and liquidity👍🏻
Network stability and security against attacks👍🏻
Network/Smart Contract Stability👍🏻
Level of public communication👍🏻
Responsiveness to our periodic due diligence requests👍🏻
Evidence of unethical/fraudulent conduct or negligence👍🏻
Contributing to a healthy and sustainable cryptocurrency ecosystem.👍🏻