Binance Launches Vote to Delist Feature, Allowing Its Community to Decide Which Tokens Stay or Go

input: Binance is giving its community more control over listings with the new Vote to List and Vote to Delist features, allowing users to decide which tokens stay or go.

Binance, the world’s largest cryptocurrency exchange, is giving its community more control over listings with the new Vote to List and Vote to Delist features, allowing users to decide which tokens stay or go.

To vote, users need a verified Binance account and must maintain at least 0.01 BNB in their exchange accounts during the Voting Period.

As part of its broader Community Co-Governance Mechanism, Binance is engaging its users in the decision-making process for removing tokens from the platform with the ‘Vote to Delist’ feature.

This follows the previously launched ‘Vote to List’ pool, where community members can select new tokens they wish to see on Binance. Both measures are part of Binance’s initiative to foster transparency and user engagement in token management.

Tokens can be placed in the Monitoring Zone for several reasons, such as lack of development updates, where projects fail to provide regular progress reports or show signs of stagnation.

Additionally, inactive communities, where user and developer engagement significantly declines, can lead to a token being flagged. Security or compliance concerns also play a role, as assets that pose potential risks to users or fail to meet regulatory requirements may face scrutiny.

Binance has previously delisted tokens that did not meet its standards, including Monero (XMR), Internet Computer (ICP), and Filecoin (FIL).

Once a token is placed in the Monitoring Zone, Binance users holding at least 0.01 BNB in their main account during the Voting Period are eligible to vote on its removal. Non-eligible votes and any votes violating the Terms and Conditions will be eliminated at the end of the Voting Period.

Each verified user can vote for up to five projects in the Vote to Delist pool, but only one vote can be allocated per project.

Applying its community-driven approach, Binance recently announced the delisting of five cryptocurrencies: Aergo (AERGO), AirSwap (AST), BurgerCities (BURGER), COMBO (COMBO), and Linear Finance (LINA).

These tokens were assessed based on key factors such as trading volume, liquidity, and security compliance, ultimately leading to their removal from the platform. The delisting is scheduled to take effect on March 28, with related services being gradually phased out before the official removal date to ensure a smooth transition for users.