The decision to delist coins and token from a Crypto exchange, at best raises eyebrows. Before we explore the reasons WHY Binancedelists coins, let's outline how Binance lists coins. Understanding the acceptance process at Binance will demonstrate that it is no quick and easy achievement and that the move is based on solid techniques. Here follows the listing journey on Binance for any Crypto project coin or token:
Binance, the world's leading cryptocurrency exchange, has a rigorous process for listing tokens and coins on its platform. Here's a breakdown of the typical procedures:
1. Project Application:
The project team submits a formal application through Binance's official channels. This application details various aspects of the project, including:
Whitepaper: A technical document outlining the project's purpose, technology, tokenomics (economics of the token), and roadmap.
Team information: Backgrounds and experience of the development team.
Token functionality: The purpose and utility of the token within the project's ecosystem.
Market data: Existing trading volume and liquidity on other exchanges (if applicable).
Compliance documentation: Information demonstrating adherence to relevant regulations.
2. Internal Review:
Binance conducts a thorough internal review of the application. This review involves multiple teams within Binance, focusing on:
Technical evaluation: Examining the underlying technology of the project and the token's smart contract (if applicable) for security and functionality.
Project assessment: Analyzing the viability of the project's concept, potential impact, and market fit.
Team evaluation: Assessing the experience and capabilities of the team behind the project.
Legal and compliance review: Ensuring the project aligns with regulatory requirements.
3. Due Diligence and Communication:
Binance might request additional information or clarifications from the project team during the due diligence process. Open and transparent communication is crucial during this stage.
4. Listing Decision and Announcement:
Following the review process, Binance makes a final decision regarding the listing. The project will be notified, and if successful, an official announcement will be made on the Binance platform.
5. Integration and Listing:
Once approved, Binance integrates the coin or token with its trading platform, enabling users to deposit, withdraw, and trade the asset.
Important Points:
The listing process can be competitive and time-consuming. Projects should be prepared for a thorough evaluation.
Binance does not accept any listing fees to ensure a fair and objective review process.
Binance reserves the right to delist any coin or token that doesn't meet their standards or violates their terms of service.
Crypto Tokens delisted by Binance in 2024!
Aragon (ANT): Aragon was removed from Binance due to factors such as changes in its risk profile, contribution to a healthy crypto ecosystem, trading volume, liquidity, and regulatory standing in the United States1.
Multichain (MULTI): Multichain faced similar criteria for delisting, including risk profile assessment and ecosystem health. Binance aims to maintain high standards for listed tokens and trading pairs2.
Vaiot (VAI): Vai, too, was delisted based on Binance’s periodic reviews. The platform ensures that listed tokens meet stringent standards. When a token no longer meets these criteria, Binance conducts an in-depth review and may proceed with delisting3.
Monero (XMR): Monero, a well-regarded privacy coin and a top 40 cryptocurrency by market capitalization, was also removed from Binance. The decision aligns with Binance’s commitment to maintaining a robust and secure trading environment2.