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Title: About Binance Innovation Zone Post by: bbigtart on May 11, 2023, 04:31:23 AM Innovation Zone is a category where the exchange lists a project for several reasons, even though it does not meet the target criteria. For example, it is popular and has a high user base, but no founder.
Exchanges also downgrade coins that don't work in the Innovation Zone before the formal delisting. For example, the token/coin is downgraded ]Based on recent reviews, Binance has decided to move the following tokens into the Innovation Zone on 2023-05-10: AirDAO (AMB) Ark (ARK) BitShares (BTS) Drep (DREP) FTX Token (FTT) Gifto (GFT) JasmyCoin (JASMY) Loom Network (LOOM) Enzyme (MLN) OAX (OAX) OMG Network (OMG) PERL.eco (PERL) pNetwork (PNT) SONM (SNM) Serum (SRM) Voyager Token (VGX) WazirX (WRX) DFI.Money (YFII) The Innovation Zone was introduced to give Binance users a place to trade innovative projects with higher volatility and risk compared to other listed tokens. When we identify such projects during our periodic review, we will move them into the Innovation Zone. Projects placed in the Innovation Zone will be closely monitored on their developments. There is also an upgrade (out of the Innovation Zone) ]Based on recent reviews, Binance has decided to move the following tokens out of the Innovation Zone on 2023-04-18: Shiba Inu (SHIB) Frax Share (FXS) Trust Wallet Token (TWT) 1inch (1INCH) The Innovation Zone was introduced to give Binance users a safe place to trade new and innovative projects. Overtime, some of these projects have proven their worth and meet the high level of standard that we expect. When we identify such projects during our periodic project review, we will move them out of the Innovation Zone. Binance will continue to build the crypto ecosystem in a way that promotes transparency and long-term sustainable growth. Title: Re: About Binance Innovation Zone Post by: Tytanowy Janusz on May 11, 2023, 06:23:18 AM You have to admit that "innovation zone" is a misleading name for projects that are dead or slowly dying, but it's too early to delist them :) I think it would be nice to change the name or create a separate section for such projects. By the way, binance moved a lot of projects there from the "normal zone", I get to know a lot of them, some of them were very popular and hyped few months ago.
Title: Re: About Binance Innovation Zone Post by: Nwada001 on May 11, 2023, 07:24:01 AM You have to admit that "innovation zone" is a misleading name for projects that are dead or slowly dying, but it's too early to delist them :) I think it would be nice to change the name or create a separate section for such projects. By the way, binance moved a lot of projects there from the "normal zone", I get to know a lot of them, some of them were very popular and hyped few months ago. Adding to what you have said, Moving project coins or tokens to the Innovation Zone is just like Binance trying not to be too rude by delisting projects that are underperforming. It's just like giving them a second chance to see if they can still make it out to the up or not, which I can't recall ever seeing any project moved there survive before; it's always either straight delisting or moved to the innovation zone, where delisting those coins won't even create any form of negative reaction because there will be fewer people trading them there. Since tokens being in the innovation zone is already a warning that they hold a greater risk, traders will try so hard to avoid them. Title: Re: About Binance Innovation Zone Post by: Apocollapse on May 11, 2023, 07:55:46 AM For example, it is popular and has a high user base, but no founder. Alright, that's really Bitcoin-ish, why Bitcoin isn't included on the innovation zone too? ::)This innovation zone is a total bullshit, if the requirement is need to have an improvement or update to be not included in this zone, any project will create a small or fake improvement. Binance can cherry pick the competitor coin e.g. FTX to be included, this will make people think if the project is bad or rug pull. If Binance want to make sure the project is safe, they need to audit everything before they want to list to their exchange. Title: Re: About Binance Innovation Zone Post by: zasad@ on May 11, 2023, 12:25:35 PM https://twitter.com/cz_binance/status/1656231470959063041?
"As some of you suggested, instead of direct delistings, we will move "no-progress projects" to innovation zone first. IF they still don't improve, we may delist. One more intermediate step." CZ warns :"Binance's "innovation zone" is not only about listing, but also about the potential delisting of coins. Project tokens are also moved to this zone. which stopped developing - before the subsequent delisting" https://twitter.com/cz_binance Title: Re: About Binance Innovation Zone Post by: hugeblack on May 11, 2023, 01:04:59 PM The name seems radiant, but the meaning is far from intended. Ideally, it is a second chance for those projects before they are removed, but I see that it is a pressure tool from Binance for these projects. They also indicated that there is no founder, and therefore the opportunity for Binance to make a profit from that platform will be less, and therefore delisting them is better than moving keeping it.
Personally, I see that Binance is trying to be a central cryptocurrency and milk these projects to achieve maximum profit. Title: Re: About Binance Innovation Zone Post by: zasad@ on May 11, 2023, 09:26:14 PM Personally, I see that Binance is trying to be a central cryptocurrency and milk these projects to achieve maximum profit. Title: Re: About Binance Innovation Zone Post by: livingfree on May 11, 2023, 09:38:03 PM You have to admit that "innovation zone" is a misleading name for projects that are dead or slowly dying, but it's too early to delist them :) I think it would be nice to change the name or create a separate section for such projects. By the way, binance moved a lot of projects there from the "normal zone", I get to know a lot of them, some of them were very popular and hyped few months ago. True, they should have named it "Dying/Delisting zone" instead of innovation zone. :PIt's like giving them the chance to be on Binance until they've been completedly out of Binance's standard. This is now how Binance controls the market with their own standard. Now these projects have to do what it takes for them not to be removed from them. I guess those desperate projects that want to remain in Binance's listing will be letting go a lot of cash coming into them to make it look like that they've got huge liquidity. Title: Re: About Binance Innovation Zone Post by: bittick on May 11, 2023, 10:37:37 PM it's basically a category for those coins that aren't really worth to get listed by binance, majority of the formerly popular coin yet have lose their trading volume and get into the innovation zone are definitely just gonna outright gets delisted since coming back for these dying altcoins would be too hard.
Title: Re: About Binance Innovation Zone Post by: poodle63 on May 12, 2023, 02:14:32 AM What the fuck was binance doing in the past by include FTT into the innovation zone this time? It must be done since FTX gets bankrupt. It seems like that binance was taking the decision with very slow timing. Binance waste many chances by securing people from buying FTT..
Innovation zone sounds crap for me to be honest. They can just try to put it as projects that being monitored by binance, Title: Re: About Binance Innovation Zone Post by: Luffygroove on May 12, 2023, 04:00:23 AM I think this innovation zone kind of thing is interesting. So basically, Binance's Innovation Zone is a spot where they can take on riskier and more unpredictable projects. It lets users trade these projects while knowing the risks involved. So basically, Binance decides whether to move projects into the Innovation Zone or upgrade them based on how well they're doing and if they're meeting the standards. This way, users can check out cool new projects and make sure everything is legit and sustainable in the crypto world. In the end, whether this plan is cool or helpful depends on a bunch of things and how you see them. Let's see how it ends.
Title: Re: About Binance Innovation Zone Post by: Freddie Boyer on May 12, 2023, 05:01:23 AM Binance will continue to build the crypto ecosystem in a way that promotes transparency and long-term sustainable growth. I think Binance's Innovation Zone move is seen as a smart move as an intermediate step before the possible elimination of underperforming tokens and CZ as CEO emphasized that this is not just a listing zone, but a way to weed out “projects with no progress” that stop growing is right on target. This motivates investors or others to always update information and monitor developments in investment platforms before or when they enter so they don't get caught off guard by delisting and usually there is notification/announcement in advance. Title: Re: About Binance Innovation Zone Post by: Husires on May 12, 2023, 06:54:54 AM The idea is like a landfill for old cars. You can search to find a good deal, but in the end it is a landfill for waste that will be destroyed or recycled in the future. I do not see it as an idea that will make these projects grow, but rather a place for them to redecorate their old ideas.
I will monitor the list to see the possibility of any token being relisted again without paying money or being a hot topic and I believe the probability will be close to zero. Title: Re: About Binance Innovation Zone Post by: cryptoaddictchie on May 12, 2023, 07:34:41 AM it's basically a category for those coins that aren't really worth to get listed by binance, majority of the formerly popular coin yet have lose their trading volume and get into the innovation zone are definitely just gonna outright gets delisted since coming back for these dying altcoins would be too hard. How about some tokens like SLP. Im sure it did loses its trading volume compared to before. But it does means they retain their innovative approach? Im sure with the normal zone and innovative zone, there must be a required activity auch as trading volume and its not about the project improvement since for sure its important to them to see if the token still actively been traded. High volume means people are still into it means people see growth to what they are doing. Title: Re: About Binance Innovation Zone Post by: jrrsparkles on May 12, 2023, 10:56:48 AM Innovation Zone is a category where the exchange lists a project for several reasons, even though it does not meet the target criteria. For example, it is popular and has a high user base, but no founder. It's hilarious that they gave misleading name so called innovation zone because there is nothing innovative in their for example Shiba which passed from their innovation zone so their only reason is the project is having hype around crypto community but also highly risky or volatile or completely new so they don't really want to risk the exchange name and let the traders to access those high risky coins with innovative name not they really listed the innovative projects.Exchanges also downgrade coins that don't work in the Innovation Zone before the formal delisting. Title: Re: About Binance Innovation Zone Post by: Rampagoe004 on May 12, 2023, 02:09:54 PM Innovation zone names can be misleading. What I understand is that innovation zones are high risk projects and can be a source of failure. If something happens to the innovation zone, for example there is 1 token that ends up like LUNA, then Binance cannot be held responsible because the innovation zone has stated that it is a high-risk project.
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