Interpreting Binance's 6 Major Measures to Address Listing Information Leaks

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AiCoin
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1 year ago

Binance released the listing announcement for RONIN, and RONIN's price plummeted by 22% in the short term, sparking intense discussions in the community about Binance's insider trading.

Binance co-founder He Yi published six measures on platform X (attached at the end of the article). In the editor's view, these rules reveal Binance's adjustments to enhance the transparency and security of the platform's internal and external listing processes. The key points of the rules are interpreted as follows:

  1. Internal adjustments: Binance will strengthen internal management and firewalls for team members involved in the listing process. Any information leaks will result in a warning, and repeated occurrences will lead to immediate dismissal.

  2. External partner adjustments: Binance will also improve communication processes with external business partners to ensure the security of project research information. Any listing information leaks may lead to the cancellation of the listing. If leaks occur after the announcement, the listing may be delayed or canceled.

  3. Enhanced technical monitoring: To prevent unauthorized monitoring of data, which could lead to BNB price fluctuations and market speculation. Despite encryption, monitoring will be strengthened to protect information from theft.

  4. Public listing application links: In order to reduce opportunities for fraud, Binance has decided to publicly disclose the listing application links to enhance the transparency of the listing process.

  5. High rewards: Binance will offer rewards ranging from $10,000 to $5 million to individuals who report corrupt behavior to the platform, while ensuring the confidentiality of the informants' identities.

  6. Clear consequences for corrupt employees: Employees dismissed for corruption who join other projects or funds will be permanently blacklisted by Binance. Binance encourages funds to conduct background checks with Binance before offering positions.

In summary, Binance has taken a series of measures to enhance the security and transparency of the listing process, and has implemented strict regulations for internal and external partners, while also increasing technical monitoring to protect the platform and users' safety.

【The following is the main text】

He Yi:

Thank you to all the friends who care about Binance, love Binance, and support Binance today. I have received many suggestions, and I have carefully read each one. In the past, there have been intense discussions about the leakage of listing information from Binance, usually for projects that have not yet been released. Overly exaggerated promotion to maintain community interest is not uncommon. However, after the listing announcement of RONIN today, the sharp drop in RONIN's price has sparked intense discussions in the community. After an internal investigation, it was found that the previous integration of public chains to retrieve tokens for users was detected by external parties, leading to discussions in the community about Binance listing RONIN. After careful consideration, we have made the following adjustments to the existing listing process:

1) Binance's internal adjustments: The listing team involves multiple aspects such as business, research, Pre IC, IC, development, operations, and announcements. Team members involved in the listing process will strengthen internal management and firewalls. If there is any information leakage for any reason, a warning will be issued for the first occurrence, and dismissal for the second occurrence.

2) Binance's external partner adjustments: External business communication often involves perfecting project research information, communicating token models, token custody management, and communicating with project investors. We have further improved the process. If there is a leak of project listing information, the listing will be canceled. If a leak is discovered after the announcement, the listing will be put on hold and the decision to proceed with the listing will be made based on subsequent adjustments.

3) Further enhance technical monitoring. Currently, we do not rule out the possibility of Binance's trading pairs and announcements being monitored by scripts. Although the content is encrypted, the actions added are being monitored. Therefore, fluctuations in BNB prices have led to speculation that Binance will launch a launchpool.

4) Due to Binance's previous desire to separate listing research from business, contact information has not been made public, providing many opportunities for fraud. Therefore, we are now publicly disclosing the application link.

5) High rewards. We welcome all reports of any corrupt behavior related to listings and other activities. If the Binance team's corruption is verified, a reward of $10,000 to $5 million will be provided while maintaining the informant's confidentiality.

6) For verified corrupt employees, if they join any project or fund after being dismissed, the corresponding project or fund will be permanently blacklisted by Binance. Major funds are welcome to contact Binance for background checks before offering positions.

If you have any comments or suggestions for Binance, please feel free to send me a private message or leave a message to the Binance customer service account @BinanceHelpDesk. Binance's past achievements are because we have established a fair, transparent, and efficient platform. Binance's future achievements will be because we have had you all the way. Keep building.

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