-
Binance warns users about tokens that have undergone significant tokenomics changes.
-
Binance’s new measures of transparency are affecting tokens such as Travala, Chiliz and IOTA due to recent tokenomics changes.
-
Binance provides enhanced user protection through the requirement that users acknowledge risks when trading tokens that have undergone notable tokenomics changes.
Binance announced that it would be introducing new measures to increase user safety and transparency on October 1, 2024.
The world’s largest cryptocurrency exchange will display pop-up notifications and banners warning of risk for tokens which have undergone significant changes in their tokenomics. This is to ensure that traders are fully informed of the risks before they proceed.
Binance took this decision as a response to community feedback that called for greater clarity about tokens with major changes in their token supply, or tokenomics. Binance is committed to maintaining a transparent environment. These measures are applicable to tokens which have undergone significant changes in tokenomics over the past 18-months.
Users must also acknowledge a popup notification in addition to the banners warning of potential risks before trading tokens marked by these changes. This extra step ensures that users are fully aware of the risks.
Tokens Affected By The New Risk Warning Measures
Binance has identified several tokens which will be carrying the new risk warnings. All of these tokens have experienced notable tokenomics changes over the last 18 month. These include:
Binance has identified a number of tokens that now carry new warnings about risk, especially those that have been affected by notable tokenomics changes over the last 18 years.
- Travala (AVA), with a price of $0.47 and a market capitalization of $25.7 millions. AVA’s maximum supply is 100 million coins.
- Chiliz (CHZ), with a circulating stock of over 9 billion coins, and a market capitalization of $559.9 millions, is trading at $0.06 per coin.
- Enjin Coin, priced at $0.15 with a supply of over 1.7 million coins and a value of $267.5 millions.
- IOTA (IOTA) is valued at $0.12, and it has a supply of 3.4 million coins. This results in a market capitalization of $425.9 millions.
- Lisk (LSK), currently trading at $0.83, has a market capitalization of $121.3 million, and a supply of more than 145 million coins.
- Metal DAO (MTL), with a price of $0.97 and a circulating stock of 66.5 millions coins, has a market capitalization of $64.9 Million.
- Orion (ORN), with a price of $1.14 and a circulating stock of 34.1 millions coins, has a market capitalization of $38.8 Million.
- Self Chain (SLF), with a circulating stock of 97,000,000 coins and a capitalization of $37,9 million, is trading at $0.39.
- Solar (SXP), with a price of $0.23 and a circulating stock of 618,000,000 coins, has a market capitalization of $144.5 Million.
Read about ORN’s price decline following Binance delisting update
Binance’s Commitment to User Security
Binance has stated that, going forward, any tokens experiencing significant changes in their tokenomics or a substantial increase in token supply will receive the same risk warning notifications and banners. These changes reflect Binance’s mission to create a transparent and sustainable crypto-trading ecosystem.
The platform continues to focus on creating a safe environment for all users. These measures will help users navigate the complexity of tokenomics and improve their decision-making.
Other Services Unaffected
Other services related to the tokens that are impacted will not be affected. Binance assures that token listings and trading functionality will continue as usual. In the future, if there are any discrepancies between the translated versions of the announcement and the original English version, Binance will refer to the English version as the most accurate source.
This site is for entertainment only. Click here to read more
