News

Binance is Set to Disclose Listing Fees Details and Donate 100% of it to Charity

Binance has announced that starting immediately the listing fee details will be publicly disclosed and 100% of it will go to charity as a donation.

The projects who want to get listed on Binance should dictate the amount they are willing to ‘Donate’, after which the exchange will review the token. They mention in their blog that a higher fee does not increase their chance to get listed.

A Twitterati Crypto-Bitlord asked if Binance will disclose all the previous listing fees and agreements to which CZ replied the agreements have confidentiality clauses and hence won’t be disclosed.

CEO of Binance Changpeng Zhao hopes that other exchanges will also follow the same norms and donate the listing fees to charities, he also pointed out that his team is also working on bringing transparency to his charity the Binance Charity Foundation (BCF).

CZ Tweeted:

We are also working on a charity transparency initiative. Stay tuned.

Back in August, a token project CEO had revealed that Binance demanded 400 Bitcoin to list their token to which CZ had replied:

Blockmanity’s Take

Getting listed on an exchange especially a giant one like Binance is considered a milestone for tokens, it not only brings more liquidity but also more exposure to lots of users which will likely increase the price of the asset (at least temporarily).

Exchanges have realized this and naturally are taking advantage of it by charging exuberant rates to list tokens. It is a good step by Binance which is arguably the largest in Crypto right now to not only make the process transparent but also donate the proceedings to charity.

We too hope that other exchanges follow Binance on this one:)

Also Read:


Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity

Did you like the news you just read? Please leave a feedback to help us serve you better

Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.

Shrikar Parashar

Shrikar is a Blockchain evangelist. He is a die-hard fan of security tokens. He follows the market closely but does not trade. He believes in Hodling.

Share
Published by
Shrikar Parashar

Recent Posts

Bullish Signals for Sui Blockchain: Top SUI meme projects of 2024

Macro guru and Real Vision CEO Raoul Pal shone the spotlight on a rising layer-1…

2 months ago

AI Companions: A New Era of Digital Relationships and Virtual Experiences

As the technology landscape transforms at lightning speed, AI Companions has positioned itself as a…

2 months ago

zkCross Network: Simplifying DeFi Complexity and Achieving Fundraising Success

Did you know that 85% of DeFi value is concentrated in six blockchains?  DeFi is…

2 months ago

Don’t Miss Out: Get $CLP Tokens in the Exclusive RWA IDO Now!

CLAPART - a groundbreaking RWA platform has launched its much-anticipated $CLP token IDO on Gempad…

3 months ago

Step into the Future of Web3 at Blockchain Futuristic Conference 2024, August 13-14

Join us at BFC 2024 to explore the future of Web3. Use a special discount…

4 months ago

WebX Asia 2024: Web3 Innovation Ignites in Tokyo

Catch all the updates with Altcoin Observer, official media partner of WebX Asia 2024. Gear…

4 months ago