A few days ago, I saw some friends criticizing Binance's listing strategy in the comments section. Coincidentally, I've also been thinking about the coin selection strategy for meme and on-chain assets for exchanges recently, trying to catch the next wave of trading opportunities on Binance. The more I think about it, the more I feel this task is quite difficult, and I wouldn't know how to do it better myself.

If I were to determine the listing strategy for memes (including AI and such), I think there are two basic criteria:

1. There is a hot trend, large on-chain trading volume, and once it hits the secondary market, people are willing to engage, and ideally, it can also bring in some incremental users.

2. It should not severely harm my users, and it would be best if there is still some wealth effect once it reaches the secondary market.

The first point is easy to resolve; it just involves looking at trading volume and market heat. I believe the research teams at major exchanges are certainly monitoring this more than I am.

The second point is more troublesome. The big hits on DEX that can reach large market cap coins are definitely backed by strong 'centralized teams.' However, meme coins do not have any so-called 'unlocking period.' After spending so much money to pump on DEX, when they finally get listed on Binance, the project team or whales would definitely want to cash out aggressively. If you think from their perspective, would you cash out if you were the project team? (Moreover, there are no really effective means to restrict this, like delisting; once they’ve cashed out, it doesn’t matter; forced lock-up has countless methods for project teams to indirectly cash out, for example, through contracts.)

So what are the options?

1. Either I don't list anything at all, or at least wait until others have listed it before I do, letting them cash out first. But this strategy would miss the hot trend, and by the time I list, the hot trend would have passed, which seems safe but is actually very unsafe.

2. Or I list everything, like Binance Alpha's strategy, accepting high-risk Binance users to play directly on DEX through wallets. But if I list everything, it would definitely lead to a lack of wealth effect, and I would also be criticized by some users; if I only list one or two, the liquidity may come too aggressively, and those one or two projects would also face severe cashing out.

3. I feel the most stable approach is to support trustworthy people within the ecosystem to manage it, maintaining a community of shared interests, avoiding severe harm, generating some wealth effects once it hits the secondary market, and not unloading crazily.

Upon reflection, isn’t this Binance's strategy? 😂