A small user wrote on the evening of September 25th, thinking about what coins to list on Binance and how to list them:

1. Current Logic

① Currently, Binance has three principles for listing coins: one is to have traffic and users; two is to survive for a long time; three is to have solid business logic.

② The listing process consists of four steps: business, research group, committee, and compliance review.

Maybe from the perspective of corporate management, it is really good and it is a closed management loop, but is it really the optimal solution?

2. Potential Problems

① Users have no say, let alone decision-making power

Judging from the coin listing process alone, actual users are neither involved nor aware of it, and only the four institutions in the process are making decisions, so projects with traffic and users will not be truly selected.

②Only God knows how long you will live, the market determines everything

In the cryptocurrency world, it is normal for the price to return to zero overnight. All people who invest in digital currencies should have a string: all coins may return to zero, even $BTC . It is not people who decide everything, but the market that decides everything.

③Meme spirit does not need business logic, survival of the fittest is the only truth

Are projects with strong business logic necessarily good? If there is no white paper, does that mean it is bad? In the WEB3 world, whether it is good or bad is determined by the users' vote.

3. Brainstorm solutions

①Centralized exchanges require a decentralized decision-making system:

$BNB Holders may be a trustworthy group that can initiate proposals for listing, vote, and make decisions. Next come business, research groups, committees, and compliance audits.

② Pre-market trading may be the best way to determine the survival of the fittest:

Before the coin is officially listed, pre-market trading can be opened. Only when a certain trading volume and a certain number of traders are met can it officially enter the market, giving enough buffer period and increasing the difficulty of insider trading.

③Open and transparent processes are more valuable than employee self-discipline

If employees have the opportunity to commit corruption, corruption is inevitable, and morality can only bind gentlemen. Calling for open and transparent processes, introducing user decisions, and reflecting BNB's decision-making and governance rights may be more valuable than working behind closed doors.

Brothers and sisters, let's chat together~