Listing fees

One of the ways of monetization that is currently being actively used by cryptocurrency exchanges is listing fees. Two of the largest exchanges in the world, Binance and KuCoin, are willing to charge a fee for listing new tokens on their platforms. Both exchanges claim that the fee depends on how trustworthy the project is. Binance CEO Chan Peng Zhao even noted that “we will not leave bitcoin” even if his team offers 4000 BTC.

The state of the listing on Binance

Christopher Franco, who heads the blockchain startup Expanse, said that Binance asked for 400 BTC (2.6 million USD) for listing their token on its platform. Franco also claimed that KuCoin demanded 50 BTC. While both exchanges dispute these figures, Binance claims that the listing price can vary depending on the quality of the project. However, Binance representatives do not explain what a “quality” project is. This project has long ceased to be just an exchange – it is an entire ecosystem that often has a complex relationship with cryptocurrency projects and blockchain startups. It would be much more convenient, transparent, and honest if Binance set a fixed listing fee. As it stands, it seems that the main criterion is the amount that a project can pay.

Innovations in motivation from OKex

OKex, the second largest cryptocurrency exchange, does not formally charge a listing fee. However, they require all applicants to contribute to the development of the community, namely to attract 50,000 new users, 20,000 of whom must be active, i.e. have at least 1 ETH on their balance and actively trade. OKex also offers users to vote for candidates for listing. Bitfinex also uses this tactic and rewards the most active and loyal traders. Binance also allows you to vote for new tokens and also charges a fee (albeit a symbolic one). Que Sera, Sera The market is now flooded with tokens and exchanges can afford to choose which ones to list and which ones not. It is only natural that they choose those projects that can pay a tidy sum or bring some benefit to the platform itself. Probably, even bitcoin, if it were launched today, would hardly be listed on any of the top exchanges.