The recent rise in popularity of memecoins has put additional pressure on crypto exchanges to protect users and weed out suspicious projects, which Binance Chief Marketing Officer Rachel Conlan said requires projects to be meticulously evaluated.
Conlan stated that listing a crypto project on a major exchange like Binance is not a guaranteed process. “A detailed review is conducted on the founders, team and roadmap of the projects,” he said.
The “secret research team” behind listing decisions considers a variety of factors. Conlan noted the importance of community feedback and trends, noting that popularity alone doesn’t necessarily drive listings:
“Community insights and feedback are taken into account, but hype alone is not the deciding factor.”
Lack of use for memecoins
Conlan said that memecoins generally have a “negative perception” because most don’t offer enough use cases. However, he noted that some memecoins offer new and effective use cases:
“Some of the new memecoins that are coming out are bringing in use cases that we need. This is really critical for the community.”
Why is it important to involve the community?
Conlan predicts that the crypto community will “grow exponentially” over the next 18-24 months. This growth will require a greater focus on projects that offer real use cases:
“If you want the community to be involved, it’s critical that projects are sustainable.”
Conlan stated that there should be more discussion about the innovations and projects that will emerge after the bear market.
Stay tuned.