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Binance to Move Several Cryptos from the Innovation Zone

Twitter icon  •  Published 1 year ago  •  Nikolas Sargeant

Crypto exchange Binance has announced that it would move several cryptocurrencies from the Innovation Zone after the projects met Binance's standards.

Binance has announced that the following tokens will move out of the Innovation Zone:

  • Shiba Inu (SHIB)

  • Frax Share (FXS)

  • Trust Wallet Token (TWT)

  • 1inch (1INCH)

This change will take place on Tuesday, April 18th. The Innovation Zone was developed to give Binance users a safe place to trade and explore new projects. New projects tend to have high volatility, with elevated potential for gains and losses. 

During a recent periodic review, Binance found that these projects met their standards to move out of the Innovation Zone. Investors must agree to specific terms and conditions in order to trade tokens in the Innovation Zone.

The criteria used by the Binance Team to move tokens out of the Innovation Zone are: 

  • Commitment of team to project

  • Level and quality of development activity

  • Trading volume and liquidity

  • Stability and safety of network from attacks

  • Network / smart contract stability

  • Level of public communication

  • Responsiveness to our periodic due diligence requests

  • Evidence of unethical/fraudulent conduct or negligence

  • Contribution to a healthy and sustainable crypto ecosystem


All other services related to these tokens will be unaffected. Users wishing to trade these tokens can read our Binance review to see how to create an account and start trading as soon as possible.

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Author

Nikolas Sargeant

Nik is a content and public relations specialist with an ever-growing interest in Crypto. He has been published on several leading Crypto and blockchain based news sites. He is currently based in Spain, but hails from the Pacific Northwest in the US.