Binance CEO Prioritizes Real Users and Product Quality in AMA on Listing Guidelines
In a recent Ask Me Anything (AMA) session, Binance CEO Changpeng Zhao, widely known as CZ, shed light on the company’s approach to listing projects on the popular cryptocurrency exchange. With an aim to provide transparency and clarity to the crypto community, CZ outlined Binance’s guidelines, emphasizing the importance of real users and project quality over token dumps.
During the AMA, CZ expressed his preference for projects with genuine user adoption and cautioned against listing projects solely based on their token offerings. He emphasized that Binance is more interested in supporting projects that have built strong, viable products and have managed to attract a substantial user base.
— Binance (@binance) July 5, 2023
“We hope to list projects with real users,” CZ stated. “We don’t want to list projects with no users just dumping tokens.” This statement clearly indicates Binance’s commitment to promoting projects that demonstrate real-world utility and are not simply focused on quick profits through token speculation.
CZ further emphasized that project teams should focus primarily on developing their own products and delivering value to users, rather than solely concentrating on getting listed on Binance. This approach aligns with Binance’s desire to promote projects that prioritize product development and long-term sustainability.
The Binance CEO also highlighted that while user adoption is a critical factor, projects with notable teams and a solid track record may also be considered for token listing. This acknowledgment reflects Binance’s recognition of the potential value that experienced teams can bring to a project, even if they are still in the early stages of user acquisition.
It is evident that Binance is taking a comprehensive approach to assess potential listings, considering factors such as product viability, team credibility, and historical performance. By scrutinizing these aspects, Binance aims to ensure that listed projects have a strong foundation and are more likely to succeed in the competitive cryptocurrency market.
CZ’s remarks on the importance of real users and product quality in the AMA echo the sentiment of many industry experts who advocate for a more responsible and sustainable approach to token listings. Binance’s commitment to supporting projects with real-world usage could potentially help establish a more robust and reliable cryptocurrency ecosystem.
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