Binance Chain to Put a Hefty Price Tag of $100,000 per New Coin Listing for Its DEX Decentralized Exchange


Changpeng Zhao, who is the CEO of Binance, has just gone ahead to reveal that the decentralized exchanged for the company, DEX, the Binance Chain, will be charging close to $100,000 for the listing of new coins on the platform.

The $100,000 Listing Has Been Set Deliberately

During the live ask-me-anything, Changpeng Zhao went on to say that they have introduced a listing fee that will be used for the new coins on the DEX of the company, referred to as the Binance Chain.

He went on to explain they have made the fee to be a little higher deliberately; this is to ensure they are able to reduce the number of scams or spam projects that are hitting the platform. And from this, he estimated that the set fee would be something close to $100K. But this is not all as he also mentioned that this set fee would be adjustable over time.

Zhao also went on to say that their company ensures it lists the best in the market; thus the platform does not list any of the poor quality projects that are trolling the market. Therefore, this remains to be seen as to what type of quality control that has been set in place, though the DEX platform is configured to support millions of coins.

It Will Not Be As Decentralized In The Initial Stages

He states that in the beginning, the actual number of the network consensus validators who will be on the DEX will first be small. An example would be the testnet, which will be beginning with about 11 validator nodes. He continues to say that as the company exchange goes live, they will search for efficient individuals who will be able to run the validators very first, and the nodes that will be used will be selected from there very close partners.

The CEO of the company will also be having a lot of influence over the network; this is in the initial stages; therefore, the chain will be a little more centralized than the other networks available in the market. His response has gone in line with the previous position he had on the matter.

Zhao states ‘there is no absolute decentralization, and is it not safer by default.’

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide