The recognized and popular cryptocurrency exchange Binance announced that it is launching a new initiative to list at least one project on Binance.com each month for the next three months. The new projects listed on the traditional Binance platform will be selected from the Binance Decentralized Exchange (DEX). The information was released by Binance a few hours ago on its blog.
Binance.com Launches Listing Progam
According to the blog post released by Binance, the intention is to support the development of high-quality blockchain projects in the cryptocurrency industry. The activity period starts the 20th of each month and ends the same day at the same hour (0:00 AM UTC) the next month.
In order to participate, the projects need to have already filled in the Binance.com listing application form in which they provide basic information about their initiatives, tokens and blockchain networks. These projects must have a daily trading volume of around $50,000 USD in their respective trading pair on Binance DEX each day during a month.
In addition to it, the social media accounts need to have a total of 10,000 members and followers. At the same time, the projects have to promote the activity in their communities and increase engagement from users.
There are some other rules that these projects must follow before being accepted and winning. All the participating projects that are able to meet the daily trading volume will have their Binance DEX listing fee reimbursed by Binance.com. Users that were paying these fees will have these funds reimbursed around the 20th of each month.
Those projects that are selected to be listed on Binance.com will not have to pay the listing fee that others projects pay. In order to win, Binance will be reviewing each of the projects through a very strict selection and review process.
Abou wash trading, Binance commented:
“Wash trading will be not included in the volume calculated for your project on Binance DEX, and may result in the disqualification of your project from the activity.”
It is worth mentioning that Bitwise Asset Management revealed that 95% of the cryptocurrency exchanges experienced wash trading activities.
Binance has recently released its decentralized exchange in which users can transact their digital assets without the need for using a centralized platform. It is expected for Binance DEX to continue growing in the future.
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