[2018-10-9]Binance Will Delist BCN, CHAT, ICN, TRIG until 2018/11/12

[Reddawn1]

Fellow Binancians,

In order to protect our users, the Binance team conducts comprehensive and periodic reviews of each digital asset listed on our platform to ensure projects maintain a high standard of quality. In the event a coin or token falls below this quality standard, it will be subject to further review and potentially delisted.

For public transparency, we would like to disclose some factors that inform our decision to delist digital assets:

Commitment of team to project
Quality and level of development activity
Network / smart contract stability
Level of public communication and activity
Responsiveness to our periodic due diligence
Evidence of unethical / fraudulent conduct
Contribution to a healthy and sustainable crypto ecosystem
Based on the above criteria, we have decided to delist and cease trading on all trading pairs for the following coins and tokens at 2018/10/12 10:00 AM (UTC):

Bytecoin (BCN)
ChatCoin (CHAT)
Iconomi (ICN)
Triggers (TRIG)
Withdrawals of these coins and tokens from Binance will continue to be supported until 2018/11/12 10:00 AM (UTC).

Going forward, we remain committed to protecting our users and all Binance stakeholders and will continue to perform periodic reviews of all listed coins and tokens.

We thank you for your support as we continue to build the crypto ecosystem in a way that promotes transparency and long-term, sustainable growth.

Thank you for your continued support.

Binance Team

[Raja_MBZ]

Delisting? Okay, so Binance finally got more interesting (after Bittrex & Poloniex). I'm smelling trouble for other low trade-volume altcoins like Vibe, Appcoin, etc, as IMO, they're looking at the low-volume coins for de-listing, not the factors they're talking about of:

For public transparency, we would like to disclose some factors that inform our decision to delist digital assets:

Commitment of team to project
Quality and level of development activity
Network / smart contract stability
Level of public communication and activity
Responsiveness to our periodic due diligence
Evidence of unethical / fraudulent conduct
Contribution to a healthy and sustainable crypto ecosystem

Bytecoin was listed just a few months back (back in June as far as I remember), how can they judge a coin for all those factors within this short span of time? Plus it's an active project, de-listing it doesn't make much of sense.

[AdolfinWolf]

How exactly does this work for the coins that have paid binance to be listed? Afaik Romano (VIACOIN) paid Binance to list their coin, and undoubtedly many other projects did this aswell.

Will they be held to the same standard? I presume they have signed some sort of contract which garantuees listing until X?

I mean, BCN had ~2.5 million volume daily, https://coinmarketcap.com/currencies/bytecoin-bcn/#markets

vs VIA ~~~300-600K. https://coinmarketcap.com/currencies/viacoin/

[Raja_MBZ]

How exactly does this work for the coins that have paid binance to be listed? Afaik Romano (VIACOIN) paid Binance to list their coin, and undoubtedly many other projects did this aswell.

Will they be held to the same standard? I presume they have signed some sort of contract which garantuees listing until X?

I mean, BCN had ~2.5 million volume daily, https://coinmarketcap.com/currencies/bytecoin-bcn/#markets

vs VIA ~~~300-600K. https://coinmarketcap.com/currencies/viacoin/

There could be a good possibility of such an agreement between Binance and those coins. Yesterday, Binance made an announcement regarding listing fee (saying that every single *satoshi* generated through listing fee will be donated 100% to charity); today, they de-listed coins. Most probably, at least from now on, they won't be making such agreements (like keeping a coin listed until X) as they're no longer concerned about the profit generated through listing fee.

[racminer]

Hi

I did not see the short 3 days notice and I still hold some $500 worth of TRIG coins. I don't understand how legal it is to delist coins with such short order notice, especially trading volume at the moment was quite high.

Anyone has any idea what to do with my coins at this point? (this could help others, I know someone who lost some $7000 worth of TRIGs)

I don't seem to find any TRIGd or TRIG-cli on github so I can set up my own node and get my coins off BINANCE.

Help !
 

[1Referee]

How exactly does this work for the coins that have paid binance to be listed? Afaik Romano (VIACOIN) paid Binance to list their coin, and undoubtedly many other projects did this aswell.

Will they be held to the same standard? I presume they have signed some sort of contract which garantuees listing until X?

Even if there has been a signed agreement, I'm pretty certain that Binance has made sure there are enough holes in the agreement that will allow them to delist any coin whenever they think it's either fraudulent, full of bugs, or too stressing on their platform.

On the other hand, it's unlikely that Binance will actually work with signed agreements, especially with how it can be used against them as extortion tool. Projects can use that against Binance by reporting them to regulators as in they accept payments for the listing of securities and whatnot. I think Binance is smarter than that.

Looking at how many garbage coins Binance has still listed and don't generate worthwhile volumes, it surprises me that they haven't delisted more coins.