Binance Launches New “Vote for Listing and Delisting” System, Sparks Community Debate; Project Teams Allegedly “Buy Votes,” Co-Founder He Yi Responds with Measures
(Background: Will token listings on Binance be free in the future? Can profit opportunities be found through the “community voting results”? He Yi: We will strictly punish cheating behavior.)
(Additional Background: Binance officially launches the “Community Voting Delisting” mechanism, with 22 tokens released in the first batch. Does ETH make the list?)
As one of the largest cryptocurrency exchanges in the world, Binance has recently introduced a new mechanism for “vote for listing” and “vote for delisting,” aiming to engage the community in platform governance and enhance decision-making transparency.
However, just a few days after the launch of this mechanism, the community began questioning the “vote manipulation” issues. It was suspected that project teams were “buying votes” to influence the outcomes, sparking widespread discussions. In response, Binance co-founder He Yi personally addressed the issue and proposed countermeasures.
“Vote Buying” Phenomenon Emerges, Community Questions Fairness
Starting from March 20, Binance officially launched the first round of “vote for listing,” with 9 tokens up for consideration. The “vote for delisting” began the next day, involving 22 tokens, including FTT, JASMY, CREAM, among others. The activities immediately attracted significant community discussions, particularly the “vote buying” controversy.
One user jokingly remarked: “When voting for listing, projects that can’t be listed buy votes for themselves; when voting for delisting, projects about to be removed buy votes for others. It’s really funny!”
This kind of “vote war” behavior turned the mechanism, originally intended to reflect community co-governance, into something else.
He Yi Responds: Tokens Without Votes Will Be Delisted Directly
In response to the community outcry, Binance co-founder He Yi addressed the issue on a community platform:
“Next time, tokens without votes will be delisted.”
This statement indicates that Binance will adjust the “vote for delisting” rules in the future, taking more decisive action against tokens with “no votes” in order to curb vote manipulation by project teams, while signaling the platform’s commitment to strengthening governance credibility. Although the voting results are currently only used as a reference, and the actual listing or delisting will still depend on a comprehensive evaluation, this response has already become a hot topic of discussion within the community.
“Vote for Delisting” Does Not Determine Everything
According to Binance’s official announcement, the “vote for delisting” event will run until March 27, and participants must hold at least 0.01 BNB and complete account verification. Each person can vote 5 times, with a limit of 1 vote per project. Only votes cast under Binance’s official posts on the Binance Square account are considered valid.
Despite real-time vote updates, the results are for platform reference only. Binance emphasized that the final decision on delisting will take into account factors such as team transparency, development quality, market trading volume, community activity, and network security, to avoid letting the vote become the sole criterion.
The original intention of this mechanism was to increase community participation, but more institutional measures are needed to prevent manipulation and profit-seeking behavior.
ETH’s Unexpected Absence Sparks “Delisting Frenzy” in the Community
It is worth mentioning that Ethereum, which had previously sparked jokes about “delisting ETH” within the community, was ultimately not included in the first round of delisting candidates, becoming a hot topic of discussion.
According to Binance’s official explanation, Binance regularly reviews each listed token. If a token fails to meet the review standards, it will be labeled with an “observation tag” to indicate the possibility of delisting. Users can vote on tokens with the observation tag in the “vote for delisting pool” to express their desire for the token to be delisted. However, Ethereum does not currently have an “observation tag,” so it is not eligible for voting.
Further Reading: Community Frenzy: Vote to Delist ETH! Binance’s New Community Governance Mechanism Makes Ethereum the Target
