Changpeng Zhao (CZ), CEO of the largest cryptocurrency exchange Binance, asked a question to his followers in his latest tweet. The question included which coin the Binance exchange should list now. Here are the details…
Binance CEO made a new post
Binance CEO Changpeng Zhao tweeted in the evening, “which coin should we list now?” He asked a question to his followers. The CEO also shared a blog post he wrote on Binance’s website. It is worth noting that the article published last year was penned by CZ himself. In the article, there are some tips for the projects that Binance will list.
Listing tips from Changpeng Zhao
In the article titled “Listing Tips from CZ” published by Binance, the CEO gives various tips to the projects. Giving about 25 tips, the CEO shows how serious they are about the listing process. Here are a few tips from what CZ has marked as “to do”:
- Online application forms (direct listing application link and Launchpad/Launchpool application) are the ONLY way to apply for listing on Binance.
- The project founder or CEO needs to fill out the application form
- Project progress needs to be streamed to Binance and the community on a regular basis. Continuous and steady progress is invaluable. This is required even after being listed on Binance.
- If you have issued your token on BNB Chain (BSC) and your token ranks high among all BSC projects in terms of number of active addresses and trading volume, this is generally a positive indicator of an active user base.
- You can include BNB/BUSD in your ecosystem.
- You can support Binance in your community.
Don’ts
In the article written by the CEO of the Exchange, there are also articles that should not be done about communication and other issues. Most, but not all, items are as follows:
- Do not request a status update on your application.
- Do not look for an interlocutor. Binance does not allow communication with review teams. It tries to avoid potential bribery attempts as well as side effects.
- They enforce a strict, one-way Confidentiality Agreement at the first point of contact.
- Project teams also do not disclose listing information until they release listing announcements.
Which projects does Binance like the most?
According to the article, the exchange wants to list the good coins. “Every coin is different. In general, we like coins with a proven team, a useful product, and a large user base.” In addition, the following items show expectations for a positive project:
- Focus on user adoption. If you have a large number of users, your product has value. This is the easiest way to measure it. Include user statistics in the application form.
- The communication process is part of the evaluation and if a project team has poor or unprofessional communication, it will have a very negative impact on the listing application. How the team handles difficult situations is evaluated, even if only within their own community.
- Don’t pressure Binance to list your cryptocurrency by spreading negative comments about Binance.
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