Binance has revealed the initial set of tokens for its “vote to list” initiative, which includes the memecoins Mubarak and Broccoli.
This announcement comes after Binance introduced its community-driven co-governance campaign, reinforcing its position as the leading cryptocurrency exchange in the world.
Participants within the Binance ecosystem now have the opportunity to vote on which tokens will be listed on the platform or removed, adhering to established due diligence criteria. Supporters of BNB (BNB) have embraced this initiative, and Binance has rolled out its first batch of tokens eligible for voting.
For this inaugural selection, the tokens are exclusively drawn from the BNB Chain ecosystem. Future voting rounds are expected to expand to include tokens from Binance Alpha as well.
Before including tokens in the voting pool, Binance will evaluate multiple aspects, such as project fundamentals, user adoption, tokenomics, and technical risk analysis. A review of the team behind the projects and compliance will also be pivotal.
“We are now opening Vote to List for the following projects, from which two tokens will be selected for listing on Binance after fulfilling our official due diligence and procedures,” the exchange stated in their announcement.
Tokens Included in Binance’s “Vote to List” Batch
The first group consists of nine tokens, featuring the recently popular BNB Smart Chain memecoins MUBARAK and Broccoli.
Other tokens include Banana For Scale, CreatorBid, CZ’S Dog, Koma Inu, SIREN, Tutorial and WHY.
Many of these tokens have seen significant price surges in the past day, with CZ’s Dog climbing by 104% and Bananas For Scale gaining 27%. Mubarak, which experienced a spike due to traction from Changpeng Zhao, has partnered some of those gains, trading down 32% at the time of this writing.
While investors aim to discover the next promising memecoin, some analysts caution that most of these trending tokens may eventually fade away.
During a recent interview, the CEO of ARK Invest, Cathie Wood, voiced her belief that the majority of these meme and animal-themed tokens will ultimately be deemed ‘worthless,’ with only a select few potentially surviving to become staples in the ecosystem.