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Binance will introduce the Seed Tag and Monitoring Tag on July 26, designed specifically for high volatility and high-risk tokens.
Binance, the world’s largest cryptocurrency exchange, made new announcements, stating the launch of the Seed Tag and Monitoring Tag on July 26. These tags are designed for high volatility and high-risk tokens.
Binance announced that the Seed Tag will replace the Innovation Zone, introduced based on user feedback.
These specially designed tags are intended for high volatility and high-risk tokens, and users will need to pass an exam to trade tokens with these tags.
Binance has announced the launch of Seed and Tracking Tags on 26/07/2023, in response to community feedback about the difficulty of distinguishing tokens in the Innovation Zone and Main Trading Zone.
To access tokens marked with these tags, users must pass exams and accept the terms every 90 days on Binance Spot and/or Binance Margin platforms.
The tests aim to ensure users understand the risks associated with trading tokens labeled with Seed and Tracking Tags.
Binance will regularly review tagged tokens and update tags based on the latest findings.
A risk warning banner will be displayed for all tokens with Seed and Tracking Labels. The Seed Label will replace the Innovation Zone and apply to existing and future listings of innovative projects with potentially higher volatility and risk.
Binance will apply the Tracking Tag to numbered tokens, along with coining tags like Acropolis (AKRO), Ark (ARK), Cream Finance (CREAM), FTX Token (FTT), Tornado Cash (TORN), and Multichain (MULTI). These tokens are known for their notably higher volatility and risks compared to other listed altcoins.
Binance’s new sticker app aims to offer users greater transparency and information about the risks linked to cryptocurrency investments. Additionally, Binance revealed its plan to list the first digital USD, First Digital USD (FDUSD), today.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
