Binance announced that it will issue a risk warning for altcoins that experience significant changes in their tokenomics and supply. Initially, 10 altcoins were included in this list, including projects such as Chiliz (CHZ) and IOTA (IOTA).
Crypto investors have complained about many altcoins. Based on user feedback, Binance has developed a new system. This system aims to prevent investors from being victimized by issuing warnings about risky assets.
“We have heard your concerns and are taking action to increase transparency around tokens that are undergoing significant changes to their tokenomics and supply,” Binance said in an announcement on its website.
Details About the New Warning System
One of the biggest problems in market development is that many crypto initiatives are moving away from the principle of transparency. Altcoins' tokenomic changes and increasing circulation supply can victimize investors. Taking this into account, Binance has created a new system in line with user demands.
Starting October 1st, alert notifications and banners will be published for risky tokens. This system will focus on projects that have experienced significant changes to their tokenomics in the last 18 months. Users will be required to opt-in to receive notifications about these tokens.
Risky Altcoins List
Binance also announced the risky altcoins under the new system. Here is the list:
Travala (AVA)
Chile (CHZ)
Engine Coin (ENJ)
IOTA (IOTA)
Lisk (LSK)
Metal DAO (MTL)
Orion (ORN)
Self Chain (SLF)
Solar (SXP)
Vanguard (VANRY)
“Going forward, other listed tokens that undergo significant changes to their tokenomics or experience a significant increase in token supply will also be subject to the risk alert banner and pop-up notification. Binance is committed to building a transparent and sustainable crypto ecosystem. We believe these measures will help users make more informed decisions and foster long-term growth within the community,” the statement said.
