Recently, in February, the vote on Binance listing around PI Network was controversial, with 86% of 294,955 voters saying “yes”, but the delays remain. With Binance’s announcement, the result is a “reference”, and the community expects that new common government mechanisms can impact the future of the cryptocurrency list.
Last month, binance held from February 17 to February 27 Community Voting For PI networks lists through Binance Square official account list. This vote gives verified users a minimum balance of $5 and can be participated through Binance Square. The vote raises a simple question: “Will PI Network (PI) start Binance?” Users can choose “Yes” or “No”
Ten days later, the results showed strong support from the community, when 86% of the total vote of 294,955 votes favored the listing, while 14% opposed it. What is even more surprising is that over the course of 10 days, the “yes” vote always stands in a stable place, never less than 80% of the total votes.
Source: Binance Square Official
However, Binance stressed that these results are only suggestions, not final decisions. The exchange pointed out that the result was “For reference“And any listing depends on its internal evaluation process, which includes factors such as evaluating security, liquidity, compliance and the overall roadmap for the project. The exchange faced a rebound and immediately followed this announcement with a surge in one-star comments and delayed the post-voting delay after Binance’s listing, as the Pi Network community felt cheated on not listing PI coins.
After that, Binance developers remained silent on the formal answers to whether to list PI coins, but Binance’s ratings on Google Play and the App Store were down considerably.
List instructions for second-hand delays
Many experts and Web3 OG investors respond to the delay in response to the list, revealing that there are some reasons behind it.
Even after six years and launching the mainnet, PI Network has not disclosed its smart contracts or open source code – a key element of any cryptocurrency. Since the founding team is mainly in the spotlight, there are still many questions about the credibility of the project, and it is not clear how many people are actually there. In addition, some experts believe that Pi’s blockchain is not truly decentralized. Unlike other crypto projects, PI Network still has full control over its mainnet nodes, which raises concerns about its commitment to decentralization. “All active mainnet nodes are specifically managed by the PI Core team, which contradicts the group’s decentralized claims,” Cointelegraph quoted blockchain experts. “Although the project promises decentralization, the current structure raises doubts about the PI Core team’s commitment to this principle.”
Also, before listing cryptocurrencies, second-hand coins are considered Key factors Like security, liquidity, legal compliance and market conditions. Although the PI network has a strong community, second-hand companies may be cautious about their abnormal market behavior. One noteworthy issue is the price trend of the PI network – it usually rises when the global cryptocurrency market declines and falls as the market strengthens. For example, when global market capitalization fell 1.14% to $2.84 trillion, the price of PI Network rose 1.28% to $1.81. This inverse pattern raises the question: Can binance view this phenomenon as a potential risk? If Binance lists the PI network, many experts believe its prices may rise based on trading activity, liquidity and market sentiment. Since strong trade activity is crucial to growth, there are doubts whether these continued volatility has led to delays in binary decisions.
Source: CoinMarketCap
Binance’s new community common government list mechanism
On March 8, Binance announced a new Community common government mechanismallowing the community to vote for listing or withdrawing tokens/projects. Recently, the community has shared valuable advice with binance. After testing and evaluation, the exchange announced improvements to its listing and extraction process:
- If a project has a listing budget, a second-hand company will make this information public and distribute tokens from the budget through various air-conditioning methods. Listing fees are free.
- Introduced the “List and Dalist” mechanism. By using this mechanism, users can vote to add promising items to the “Alpha Observation Area”” Or put weak and high-risk people into the “surveillance tag”.
- In the Alpha Observation area, an item with exclusive token generation event (TGE) in the binary wallet will be placed.
Binance said the updates are designed to provide users with more opportunities to discover high potential projects. Meanwhile, the exchange ensures that all listed tokens meet quality, innovation and regulatory standards.
One of the most exciting communities after Binance announced the new mechanism was PI network supporters. They wonder if it is possible to list PI coins like in previous PI voting cases.
