The CMO of Binance explained the factors the company considers when deciding to add a new meme coin to the platform.
According to Rachel Konlan, there are no secret agreements or special properties that guarantee a token's listing on the exchange.
Before adding a project to the platform, the company thoroughly studies the project itself, its team, and compares various data.
Binance's marketing director Rachel Konlan discussed the principles the company follows when considering the possibility of listing a new meme coin. She spoke about this during the Aus Crypto Con 2024 event, Cointelegraph reports.
According to the top manager of Binance, there are no factors that can guarantee 100% that a token will be listed on the platform. All talks about secret agreements and the promotion of certain assets have nothing to do with reality, the company representative emphasized.
There is a special research group that conducts a complete analysis of the token. This includes the project's structure, the peculiarities of its economic functioning, the history of the developers themselves, and other aspects, Konlan noted. The company makes efforts to ensure the viability and potential of the asset, as well as the absence of any dubious factors.
'Community feedback and opinions, as well as observing trends and community sentiments, are certainly also important,' the top manager noted.
At the same time, Konlan stated that a project cannot achieve listing on Binance based solely on hype in social media and the crypto community. Fundamental arguments are necessary in favor of this decision.
According to the CMO of the exchange, meme coins have faced a portion of criticism due to the lack of 'utility'. However, recently, projects have emerged that carry some ideas capable of giving a boost to the industry's development, Konlan believes.
'We know that there are new meme coins that incorporate this utility. This is really what we all need, as we require such a use case,' said the Binance representative.