Binance issues seed and tracking accounts for high-volatility tokens.

Share this article

Binance, the global leader in the cryptocurrency exchange space, announced on July 16 the initiative to better educate users on the risks associated with high-volatility tokens, launching seed and tracking accounts.

The token is set to replace Binance's Innovation Zone, where new high-volatility tokens will be available, and will apply to all previously listed tokens and future listings representing new and high-risk projects.

Binance will also introduce a tracking indicator, which will mark tokens that show high volatility, unlike other listed tokens.

These accounts are the first of their kind among cryptocurrency exchanges to provide user feedback to easily identify the different types of tokens on the platform.

To trade these tokenized tokens, users must successfully complete surveys on the Binance Spot and Binance Margin platforms every 90 days and accept the platform's terms of use. This new measure is designed to make customers aware of the potential risks associated with these highly volatile tokens.

Seed accounts and tracking accounts are displayed on the respective Binance Spot and Binance Margin trading pages and on the markets overview page. A warning banner will appear for all tagged tokens. Binance has expressed its commitment to transparency and user protection by conducting regular project reviews.

Criteria for these evaluations include the team's commitment to the project, quality of development activities, volume of transactions, and evidence of unethical behavior, among others. Binance ensures that these changes will not affect other services associated with the token.

Share this article