Binance has recently launched two mechanisms that empower the community to decide on token listings (Vote to List) and delistings (Vote to Delist).
However, behind these two initiatives, a critical question arises: Is there any bias in how Binance manages its token portfolio?
BNB Chain Projects Dominate “Vote to List”
On March 20, 2025, Binance kicked off the first batch of “Vote to List.” Following this announcement, multiple new BNB Chain tokens, including Broccoli, KOMA, and BANANAS31, secured their listings on the world’s largest exchange.
This is similar to how Binance had opened a vote for the community to decide whether to list Pi Network’s Pi Coin.
A day later, on March 21, 2025, Binance made headlines again by introducing “Vote to Delist“. The first 21 tokens selected for potential delisting were JASMY, ZEC, FTT, ELF, SNT, STPT, BAL, ARK, GPS, MBL, PROS, CTXC, HARD, BETA, CREAM, FIRO, VIDT, NULS, TROY, ALPACA, and UFT.
These events highlight Binance’s ambition to grant more decision-making power to the community. However, they also raise a critical question: Is there bias in how Binance manages its token portfolio? While BNB Chain dominates “Vote to List,” does “Vote to Delist” truly provide a fair playing field for projects from other blockchains?
“Vote to Delist”: Is Binance Favoring Its Ecosystem?
Interestingly, only ALPACA belongs to the BNB Chain among the 21 tokens targeted for delisting. The remaining represent Ethereum, Base, and other blockchain ecosystems. These tokens were flagged with a “Monitoring Tag” due to low liquidity, lack of team updates, or weak community engagement.
At this stage, the contrast between “Vote to List” and “Vote to Delist” reveals an interesting pattern. The process seems to lack balance in blockchain diversity, potentially favoring BNB Chain in listings while targeting external projects for delisting.
At the same time, while Binance’s listing criteria, like liquidity, project development, and community activity, apply to all tokens, non-BNB Chain projects often struggle to compete with the inherent advantages of tokens within the BNB Chain ecosystem.
Binance’s “Vote to List” and “Vote to Delist” mechanisms are significant steps toward community-driven governance. However, the disparity in blockchain representation raises concerns about fairness in token management.
Binance currently says this is a trial. It remains to be seen whether Binance will make adjustments to ensure a more level playing field or whether BNB Chain will continue to enjoy a privileged position on the exchange.
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