Nikolas Sargeant
In response to recent evaluations, Binance announced the addition of new tokens to its Monitoring Tag list as of October 4, 2023. The tokens newly incorporated into the Monitoring Tag list are:
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Beta Finance (BETA)
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BarnBridge (BOND)
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Waltonchain (WTC)
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NEM (XEM)
Tokens marked with the Monitoring Tag are acknowledged for exhibiting higher volatility and associated risks compared to other listed tokens. Continuous scrutiny is applied to these tokens, with regular reviews conducted. It is essential to note that tokens carrying the Monitoring Tag are subject to the potential risk of not meeting the platform's listing criteria, leading to delisting.
To trade tokens designated with the Monitoring Tag, users must successfully pass corresponding quizzes every 90 days on both the Binance Spot and Binance Margin platforms, and also adhere to the platform's Terms of Use. These quizzes are designed to ensure that users are well-informed about the associated risks before engaging in trading activities with Monitoring Tag tokens. Users can identify Monitoring Tags on the respective Binance Spot and Binance Margin trading pages, as well as on the Markets Overview page. A risk warning banner will also be prominently displayed for all tokens carrying Monitoring Tags.
Monitoring Tags are part of what makes Binance a very secure cryptocurrency exchange. Binance is the world’s most licensed exchange. They are also the world’s largest cryptocurrency exchange in terms of daily trading volume. Read more in our full Binance review.
Binance will conduct periodic project reviews to determine whether the Monitoring Tag should be added to or removed from tokens based on the latest findings. The following criteria are considered during these reviews:
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Commitment of the team to the project
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Level and quality of development activity
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Trading volume and liquidity
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Stability and safety of the network from attacks
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Network/smart contract stability
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Level of public communication
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Responsiveness to periodic due diligence requests
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Evidence of unethical/fraudulent conduct or negligence
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Contribution to a healthy and sustainable crypto ecosystem
It is crucial to note that other services related to these tokens will remain unaffected. The Monitoring tagging for the specified tokens will be promptly updated after the release of this announcement.
