Binance Launches Second “Vote to Delist” Round — 17 More Tokens Could Disappear

Binance has unveiled the second round of its “Vote to Delist” initiative, placing 17 tokens under the microscope for potential removal from the platform. This endeavor underscores Binance’s commitment to maintaining a high-quality trading environment and empowering its users in critical decision-making processes.​

A Closer Look at the Tokens on the Chopping Block

The 17 tokens nominated for potential delisting have been flagged with the “Monitoring” tag, indicating concerns regarding their performance, liquidity, or compliance. Here’s a snapshot of the tokens currently under review:​

The Voting Process: Empowering the Community

Binance has opened the floor for its users to voice their opinions on the fate of these tokens. The voting window spans from April 10, 2025, 04:00 UTC to April 16, 2025, 23:59 UTC. To participate, users must have a verified Binance account and maintain a minimum balance of 0.01 BNB throughout the voting period. In the “Vote to Delist” process each eligible user can cast votes for up to five projects, with a limit of one vote per project.

It’s imperative to note that while community feedback is invaluable, the voting outcomes serve as one of several factors in Binance’s comprehensive evaluation process. The exchange will also assess aspects such as the project’s team commitment, development activity, trading volume, network stability, and adherence to regulatory standards before making final delisting decisions.

Historical Context: The Preceding Delisting Wave

This initiative follows closely on the heels of Binance’s inaugural “Vote to Delist” round, culminating in removing 14 tokens, including BAL, CREAM, SNT, and TROY. The primary concerns leading to these delistings encompassed compliance issues, sluggish development trajectories, and diminished trading activities.

Market Repercussions: The Immediate Fallout

The announcement of potential delistings has sent ripples through the crypto market. For instance, GoPlus Security’s (GPS) market capitalization experienced a swift decline from approximately $41 million to $36.9 million, marking a drop of over 6% shortly after the news broke. Similarly, Voxies (VOXEL) and Ardor (ARDR) witnessed price reductions of 7% and 5%, respectively.

Binance’s Stance: Balancing Act Between Quality and Community

Binance’s “Vote to Delist” program epitomizes the exchange’s dedication to fostering a transparent and community-centric trading environment. By actively involving users in listing decisions, Binance not only democratizes the process but also ensures that the platform remains aligned with the interests and expectations of its user base.

However, the exchange remains steadfast in its commitment to upholding stringent quality standards, ensuring that only projects meeting its rigorous criteria continue to be listed. ​

Conclusion on “Vote to Delist”

As the crypto landscape continues to evolve, platforms like Binance play a pivotal role in shaping the industry’s trajectory. Initiatives such as the “Vote to Delist” underscore the delicate balance between community engagement and maintaining a robust, compliant trading ecosystem.

For investors and project teams alike, staying attuned to these developments is crucial, as they not only influence individual portfolios but also reflect broader market dynamics and sentiments.​

FAQs

Q: What is Binance’s “Vote to Delist” initiative?

A: It’s a program by Binance that allows users to vote on the potential removal of certain tokens from the platform, promoting community involvement in listing decisions.​

Q: How can I participate in the voting process?

A: Ensure you have a verified Binance account with at least 0.01 BNB during the voting period. You can then cast your votes through the official Binance Square post.​

Q: Are the voting results the sole determinant for delisting a token?

A: No, while community votes are influential, Binance also considers factors like project activity, liquidity, team responsiveness, and regulatory compliance in its final decision.​

Q: What happens to tokens that get delisted?

A: Delisted tokens will no longer be available for trading on Binance. Users are typically given a timeframe to withdraw their holdings of the delisted tokens.

Glossary of Key Terms

Monitoring Tag
A label used by Binance to identify tokens that are under review for potential issues such as low trading volume, weak liquidity, or compliance risks.

Delisting
The removal of a cryptocurrency token or trading pair from an exchange means users can no longer trade or deposit the asset on that platform.

Vote to Delist
A Binance initiative allowing verified users to vote on whether specific tokens should remain listed on the exchange, encouraging community involvement in platform governance.

Liquidity
The ease with which an asset can be bought or sold in the market without affecting its price. Tokens with low liquidity may face delisting due to trading risks.

BNB (Binance Coin)
The native cryptocurrency of the Binance ecosystem is used for trading fee discounts, voting, and other platform utilities. A minimum amount is required to vote.

FTT (FTX Token)
The native token of the now-bankrupt FTX exchange. It has been under scrutiny and flagged for possible delisting due to project inactivity and legal issues.

IoT (Internet of Things)
A network of interconnected physical devices that collect and exchange data. Some tokens under review, like Jasmy, are related to IoT applications.

Perpetual Contracts
A type of futures contract without an expiry date, often used in crypto trading platforms. Tokens like PERP are associated with such financial instruments.

Blockchain Interoperability
The ability for different blockchain systems to interact and share data. Projects like ARK aim to enhance this capability.

DeFi (Decentralized Finance)
A financial ecosystem built on blockchain that allows users to engage in lending, borrowing, and trading without intermediaries. Several tokens in the vote are DeFi-related.

References

Binance

DeFi Planet

NFT Evening

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