The biggest crypto exchange by global trade volume, Binance can charge 400 BTC ($2.6 million) to list a token on its platform, at least according to Christopher Franko, co-founder of Blockchain platform Expanse.
After submitting a listing request to the exchange this month, Franko got a reply from the Binance team asking for the massive fees 400 BTC to be listed.
Just got a new @binance listing quote. 400 BTC
— Christopher Franko 🧐 (@FrankoCurrency) August 8, 2018
This adds fuel to the fire in a broader debate on Binance not following decentralized prnciples. The debate started when Binance revealed a “rough, pre-alpha” demo version of DEX, its own decentralized exchange which could ultimately take over from its current platform.
However, skeptics said that the token can never be decentralized.
Your ‘DEX’ is not fully decentralized if you can freeze/delist coins or ask 400BTC for a listing is it? Only a few exchanges are truly decentralized https://t.co/vEMdIV4UvZ
— DecentralizedMatt (@DecentralizedM1) August 9, 2018
Binace reportedly sought to deny the claims, with support staff claiming certain information had come from a “spoofed email.” But Franko is skeptical about those claims.
So he is trying to say it was a spoofed email. But um.. it came from https://t.co/bTYQp6cgHK so either…
1. He is lying to save face.
2. someone has hacked their servers and sending emails out from it.
3. he has a rogue employeeI literally have nothing to gain from this.. pic.twitter.com/ubfyuxREEs
— Christopher Franko 🧐 (@FrankoCurrency) August 9, 2018
Franko offered to clear this confusion by asking Binance to provide a real quote. Binance has not replied with a quotation of a revise listing fees yet.
Ok, @cz_binance if you are being genuine that it really doesnt cost 400 BTC to list @ExpanseOfficial there, then send me a DM with a real quote so we can clear this up. I believe you are probably an honorable person and the people want to know you are who you say you are.
— Christopher Franko 🧐 (@FrankoCurrency) August 9, 2018
Since becoming the largest exchange in the cryptocurrency industry, Binance has adopted an aggressive expansion program which saw it relocate to Malta and seek to enter various international markets. Fortunes of its own token, Binance Coin (BNB), have also exploded as it has already become the 16th biggest token by market cap which currently sits at a little over $1.2 Billion USD.
At the same time, cryptocurrency community figures like Vitalik buterin have leveled criticism at centralized exchanges like Binance over their corporate practices, including listing fees.
