Binance's new round of voting for listing coins sees a surge in off-site vote fraud

Binance launches second round of voting for listing

Listed tokens and market value

According to official news, Binance has launched the second round of voting for listing, which will last until April 10. Users can participate in the voting on Binance Square. The winning projects will be listed for spot trading after review. The candidate tokens include: VIRTUAL, BIGTIME, UXLINK, MORPHO, GRASS, ATH, WAL, SAFE, ZETA, IP, ONDO, PLUME, a total of 12 popular crypto projects.

Unlike the first round of candidate tokens, most of which were Meme projects and BNB Chain ecological tokens, this round of candidate token projects covers multiple tracks such as AI, DeFi, infrastructure, RWA, etc. This may indicate that the voting for listing mechanism will become one of Binance's normalized listing methods. As of writing, according to on-chain data, the unit price, circulating market value, and total circulating market value of the second round of candidate tokens are as follows:

A list of secondary data of the second round of candidate tokens

It is not difficult to find that compared with the candidate tokens in the first round of voting for listing, the market value of candidate tokens in this round is generally higher. Among them, ONDO's current circulating market value has reached 2.4 billion US dollars, ranking first among all candidate tokens; even BIGTIME, which has the lowest market value, has exceeded 100 million US dollars. This also indirectly shows that Binance is more inclined to choose medium-sized projects with a certain market foundation and user consensus in this round of voting, so as to further increase the attention of the listing activities and the intensity of community competition.

How to participate

As long as the real user meets the conditions of holding at least 0.01 BNB, the voting process is very simple. First, find "Square" under the "Information" column of Binance, then find the Binance Square Official account and find "Vote" in the top content, and finally choose your favorite project from the 12 candidate projects in the second phase to vote.

Binance's first voting activity review

According to official information, in Binance's first round of voting, BANANAS31 (19.4%) and WHY (18.8%) ranked first and second respectively. However, surprisingly, WHY did not appear in the final list of projects to be launched. Instead, Binance launched four projects at once: MUBARAK, BROCCOLI 714, TUT and BANANAS31, which exceeded the expectations of most users.

From the perspective of price trends, due to the current overall market downturn, insufficient liquidity, lack of strong narrative support and other multiple factors, the projects launched on Binance did not bring obvious "wealth effect". Among them, MUBARAK, the meme project that was the most popular in the voting stage, did not rise but fell after it was launched, and continued to weaken.

So, after the second round of voting activities ended on April 10, whether Binance will continue the practice of the first round and finally launch four projects, or will adjust according to the situation of this round, remains to be seen. In addition, what is the relationship between the listed tokens and the voting ranking? Odaily Planet Daily will continue to pay attention and bring the latest reports.

The popularity of "brushing votes" in the OTC market exceeds the first round

Although the short-term performance of the tokens launched in the first round in the market is not satisfactory, the listing of Binance spot trading is still widely regarded as a strong endorsement and liquidity blessing. Once the market picks up, the potential profit space is considerable. For this reason, even if the overall market sentiment is cold at present, the voting and listing link still attracts a lot of attention, and the operation around "brushing votes" continues.

The popularity of this round of voting even exceeds the first round. According to feedback from many OTC trading users, the demand for voting in this round has increased significantly, and the market price of "collecting votes" has also risen - the price in the first round was mostly maintained at around US$5, while this round has generally risen to US$7. If "bulk tickets" are sold at one time, the price can even reach US$7.5 or higher.

Off-site ticket collection

In addition, the three projects of IP, ATH, and SAFE not only received support from many KOLs in the community media, but also had an extremely strong demand for "ticket collection" off-site.

The "autonomy experiment" of voting for listing is still in the exploratory stage

Finally, let us look forward to the future direction of Binance's voting mechanism for listing, which may present three completely different situations.

The ideal situation is that community members vote based on real consensus to promote truly potential projects to stand out; at the same time, the anti-cheating mechanism built by the platform plays a role, effectively curbing the behavior of brushing votes, thereby creating a set of governance paradigms for the industry to learn from.

However, in a more pessimistic scenario, large investors manipulate the voting results and send inferior projects to the exchange stage; some speculators may even obtain profits by shorting all candidate projects, thereby triggering a large-scale decline in small and medium-sized market value tokens and disrupting market order.

What is more likely to happen is a complex and ambiguous intermediate state: although high-quality projects with potential can be selected occasionally, fraud such as vote-rigging still occurs from time to time, and Binance has to continue to revise the mechanism and optimize the rules to maintain the credibility and participation of the vote.

Overall, this "autonomy experiment" of voting for listing is still in the exploratory stage, and its success or failure will directly affect Binance's openness in the listing mechanism and community participation model.