Binance, the world’s largest-traded Cryptocurrency exchange, has announced a new move for specific cryptocurrencies, including Travala (AVA) and IOTA (IOTA), for significant changes to its monetary policy or tokenomics.
According to the announcement, starting October 1, 2024, these tokens will be subject to a risk warning banner and pop-up notification on the Binance platform.
The introduction of these risk warnings responds to the company’s concern for “maintaining a platform of high quality and transparency,” he says. Binance has decided to act “on the feedback received”, focusing on tokens that have recently modified their monetary or supply policy. This measure seeks to allow users to make more informed decisions.
Tokens affected by this new policy include: Travala (AVA), Chiliz (CHZ), Enjin Coin (ENJ), IOTA (IOTA), Lisk (LSK), Metal DAO (MTL), Orion (ORN), Self Chain (SLF ), Solar (SXP) and Vanar Chain (VANRY).
Binance stated that this policy not only applies to these ten tokens, but also will be extended to any tokens listed in the future that presents significant changes in its tokenomics or a considerable increase in its supply.
Recently, CriptoNoticias reported on Bitcoin-criptomonedas/” target=”_blank” rel=”noreferrer noopener”>a collaboration between Travalaa travel agency that accepts cryptocurrency payments, and flight comparison platform SkyScanner. This union reflected the growing integration of the cryptocurrencies in traditional sectors, although it also underlines the importance of surveillance and transparency in the cryptoasset market, as demonstrated by Binance’s action.
Binance defines itself as an advocate of transparency and user protection, highlighting the importance of being informed about changes in digital assets.
With this measure, the platform responds to the criticism and concerns of its user base and sets a precedent for risk management in cryptocurrency exchanges. This risk policy is a step towards a more sustainable and conscious cryptocurrency market, where decision-making is based on clear and accessible information, according to the exchange’s argument.
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