Binance, the largest centralized exchange, has introduced a community co-governance structure allowing users to vote on token listings and delistings. The initiative will involve Binance selecting projects for community voting, and tokens with the highest votes will be listed after thorough due diligence. Projects failing to meet ongoing requirements or with inactive communities will be flagged and placed in a 'monitoring zone,' where users can vote to remove them. The announcement responds to the growing number of cryptocurrencies, currently exceeding 12 million, and aims to alleviate difficulties stemming from the oversaturation of new tokens in the market. This strategic move is part of a broader trend among exchanges, including Coinbase, to reevaluate their token listing processes amid increasing competition and potential price dilution.

Source 🔗