Major cryptocurrency exchange Binance has initiated the second phase of its community-driven token review process, placing 17 digital assets currently under the “Monitoring” tag up for a potential delisting vote.
This “Vote to Delist” initiative aims to enhance platform transparency and incorporate user feedback into listing decisions. According to an Apr. 10 update, the cryptocurrencies facing potential removal include FTT, JASMY, VOXEL, GPS, ZEC, STPT, ARK, ARDR, MBL, PERP, NKN, WING, LTO, FLM, BSW, ALPACA, and PDA.
Community members can cast their votes via the Binance Square platform starting Apr. 10 at 4:00 UTC until Apr. 16 at 23:59 UTC. Participation requires a verified Binance account and a minimum balance of 0.01 BNB during the voting window. Each eligible user can select up to five different tokens to vote on, with a single vote permitted per project.
[Illustration depicting community voting on crypto tokens]
While emphasizing the value of community input, Binance stated the vote’s outcome is one of several factors considered. The final decision on delisting will also weigh aspects like project development activity, network stability, trading volume and liquidity, team communication responsiveness, and potential regulatory concerns.
This follows the first round concluded earlier in April, which resulted in the scheduled removal of 14 tokens (including BAL, CREAM, SNT, and others) effective Apr. 16. The exchange previously pointed to issues like compliance standards, stalled development, and weak trading activity for those delistings.
Separately, Binance continues to introduce new features. On Apr. 9, the platform launched LDUSDT, a novel margin asset that allows users to employ USDT from their Simple Earn savings accounts as collateral for futures trading, while simultaneously earning real-time APR. This aims to improve capital efficiency for traders on the platform.