Binance Co-Founder Yi He Issues Statement on Ronin Listing After Price Drop
Yi He, the co-founder of Binance, the world’s largest cryptocurrency exchange, has issued a statement addressing the concerns over the possibility of internal information leaks regarding the listing of Ronin, a token associated with a popular blockchain game. Her statement came after a heated debate on social media following the sharp decline of Ronin’s price after it was listed on Binance on February 5th.
According to her X post on February 6th, Yi He said that she had received a lot of feedback related to the Ronin listing issue. She noted that in the past, there were occasional discussions about information leaks on Binance, but they usually involved projects that had not yet issued their tokens and were often the result of excessive hype by the community. She said that an internal investigation revealed that the price drop was due to the integration of the public chain before the listing, which allowed users to recover their tokens. The integration was detected by external parties, and the community began to speculate that Binance would list Ronin.
— Yi He (@heyibinance) February 5, 2024
To address these concerns, the co-founder announced the following adjustments:
- Any project management team that is found to leak information for any reason will receive a warning for the first violation and be dismissed for the second.
- Binance’s external partners: The external business communication process, which often involves improving the project research information, communicating the token model, managing the token custody, and communicating with the project investors, will also be improved to prevent information leaks related to the listing. If the project listing information is leaked, the listing will be canceled. If information leaks are found after the announcement, the listing will be postponed indefinitely, and the decision to list will depend on the subsequent adjustments.
- Binance will further enhance its technical monitoring, as it does not rule out the possibility that Binance’s trading pairs and announcements are being monitored by scripts. Although the content is encrypted, the addition of actions is monitored, so the BNB price fluctuates from time to time, and everyone will guess that Binance will launch a launchpool.
- Binance did not disclose its contact information in the past, as it hoped to isolate the listing research from the business, which gave many scammers an opportunity.
- High rewards. Binance welcomes anyone who knows of any corruption or fraud related to the listing or other activities to report it. If Binance team members are verified to be corrupt, Binance will protect your identity and provide you with a reward of $10,000 to $500,000, which is much more than a rat warehouse.
- For verified corrupt employees, if they join any project or fund after being dismissed, the corresponding project and fund will become Binance’s permanent blacklist for listing. Binance welcomes all major funds to contact Binance for background checks before giving offers.
Yi He also invited anyone who has any opinions or suggestions on Binance to send her or the Binance customer service account a private message or leave a comment. She said that Binance’s past achievements were due to the establishment of a fair, transparent, and efficient platform, and Binance’s future achievements were due to having everyone along the way. Keep building.
Ronin Network is a sidechain built on Ethereum. Ronin is developed by Sky Mavis, the company behind the top blockchain game project Axie Infinity. In addition to supporting the Axie Infinity game, Ronin Network also aims to become a blockchain dedicated to the future Web3 game developers.
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