#Binance has announced a new system where users can vote to delist crypto projects. However, the voting results will not be the only factor that will determine who will be removed from the final list.
Cryptocurrency exchange Binance is implementing a “Vote to Delist” system in order to create a group-oriented governance options. This new mechanism will allow users to vote to delist specific projects, with the final decision being made by the exchange’s official review process.
Binance regularly reviews its digital assets in the system and assesses whether they are suitable for industry change. Projects that do not comply with the standards are given a “Watch Tag”, indicating the possibility of being delisted.
How will the voting process work?
Binance will start the first voting period from 06:30 UTC on March 21, 2025 to 23:59 UTC on March 26, 2025. Users can only vote if they have 0.01 BNB in their Binance account. There are 5 projects in total that can be voted for, and only one project can be voted for by the user.
The projects that will be removed from the list include 22 different cryptocurrencies such as JasmyCoin (
#JASMY ), Zcash (ZEC), FTX Token (
#FTT ), elf (ELF), Status (SNT), STPT (STPT), Balancer (BAL), Badger (BADGER) ARK (ARK), GPS (GPS), Moviebloc (MBL), Prosper (PROS), Cortex (CTXC), Kava Land (HARD), Beta Finance (BETA), Cream Finance (CREAM), Firo (FIRO), VIDT Datalink (VIDT), NULS (NULS), Troy (TROY), Alpaca Finance (ALPACA), and UniLend Finance (UFT). Binance has opened these projects to mass stacks by combining the “Monitoring Tag”. However, since the voting reflects only the selected ones, the final decision will be made by the exchange's evaluation.
Voting results and evaluation criteria
The voting results may be strongly requested to be delisted until selected, but the final decision will be made after the Binance official review process. The exchange will consider a number of factors such as development levels, trading volume, security status, and distribution communication.
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