Binance Founder CZ Talks About Uploading Binance Coins and Token Economics

On May 1st, it was reported that the founder of Binance, CZ, spoke on Twitter Space and stated that I am not personally involved in the process of uploading Binance coins. There are also many projects on Binance that I cannot understand, and the first standard for uploading coins is the number of users. We will look at Token economics, and we don’t like tokens with very small circulation. From the user’s perspective, there is no guarantee that any specific token can be listed on Binance, nor is there any guarantee that a certain token will not be listed. Binance has an independent team to evaluate Shangcoin.

CZ: Individuals are not actually involved in any coin sharing work

Introduction

On May 1st, CZ, the founder of Binance, held a Twitter Space session, which has been the buzz among cryptocurrency enthusiasts. During the session, he shared his views on the process of uploading Binance coins, the standard criteria for coin listings, and the importance of token economics.

The Process of Uploading Binance Coins

CZ stated that he is not directly involved in the process of listing coins on Binance. Binance has an independent team that evaluates the coins based on set criteria. CZ also mentioned that there are many projects on Binance that he cannot understand. The primary criterion for uploading coins on Binance is the number of users. CZ reiterated that it is the users’ demand that decides whether a specific token will be listed on Binance or not.

Token Economics and Binance Listings

Binance evaluates token economics before listing any coin on the platform. CZ mentioned that Binance does not prefer tokens with very small circulation. CZ emphasized the importance of cryptocurrency companies having clear use cases, products, and services, as they increase the token’s demand. CZ stated that from the user’s perspective, there is no guarantee that a particular token will be listed on Binance, nor is there any guarantee that a certain token will not be listed. Binance prioritizes the users’ demands and evaluates the token’s fundamentals such as its whitepaper, use cases, team, and roadmap.

The Independent Evaluation Team

Another significant point emphasized by CZ was that Binance has an independent team that evaluates the coins’ technical and fundamental attributes before considering their listing. He stated that Binance’s primary objective is to provide the best user experience to traders, and that includes offering high-quality coins and tokens for trading.

Conclusion

In conclusion, CZ’s Twitter Space session gave a glimpse of the coin listing process of Binance and the importance of token economics. CZ reiterated that Binance evaluates the tokens based on their user demand, fundamentals, and technical attributes. He mentioned that Binance has a dedicated independent team that evaluates the coins’ criteria before listing them on the platform.

FAQs

Q1. Does Binance prefer coins with large circulating supply?
Binance evaluates the token economics of the coin before listing, and the size of the circulating supply is just one of the many metrics they use to evaluate the token.
Q2. Can anyone recommend a token to be listed on Binance?
Yes, anyone can recommend a token for listing on Binance by submitting the required documentation on the Binance website.
Q3. Is it guaranteed that a token recommended for listing on Binance will be listed?
No, there is no guarantee that a particular token will be listed on Binance, as Binance evaluates coins’ technical and fundamental attributes before considering their listing.