Binance has launched a new “Vote to List” initiative. The program allows users to vote on which tokens to list. Unfortunately, Pi Network, which was expected to be listed on the exchange, has been excluded from the inaugural campaign. The development has caused great disappointment among Pi enthusiasts. However, not everyone has lost hope. Here is everything you should know about the development!
Binance’s “Vote to List” Program
The “Vote to List” initiative is a revolutionary program introduced by the world’s largest cryptocurrency trading platform. What makes the initiative special is its decentralised nature. What Binance targets with the initiative is to ensure the active participation of its community in the process of determining which tokens should be listed on the platform.
The initiative was introduced just a month ago. In the inaugural campaign, nine projects will compete against each other to win the listing. Among these projects, those two projects that secure the maximum number of votes will be declared winners.
The projects in the campaign include BANANAS31 (Banana For Scale), BID (CreatorBid), Broccoli (Broccoli), Broccoli (CZ’s Dog), KOMA (Koma Inu), SIREN (SIREN), Mubarak (Mubarak), TUT (Tutorial), and WHY (why).
Why Pi Network Was Not Included
To be eligible to participate in the program, a project must be hosted on the BNB Smart Chain network. This means that projects hosted outside the BNB network are ineligible for the program. Sadly, Pi Network operates on its own blockchain. This naturally makes it ineligible for the initiative.
It is alleged by many that Binance is unjustifiably favouring Binance-based meme coin projects.
Earlier, when Binace launched a community vote seeking users’ opinion on whether to list Pi Network on the exchange or not, a vast majority of respondents voted in favour of PI.
However, the Binance team has not yet acted on this. At one point, they even downplayed the community response regarding the listing of PI, saying the final decision would be taken after considering other factors.
While discussing this latest development, many point out that it is important to support projects with strong fundamentals like PI over meme projects with no utility.
Interestingly, some of the projects included in the inaugural campaign have strong celebrity backing. The case of Mubarak is a good example.
Recently, Mubarak made headlines, as Binance founder Changpeng Zhao expressed his support for the token.
Pi Coin’s Market Performance
Pi Network looks bullish currently. It appears that the disappointing development has not had any serious impact on the market.
Since February 20, the PI price has seen a rise of 1,120.23%. In the last 24 hours alone, the market has experienced a surge of 1%.
Reports say that PI has a healthy trading volume on exchange like OKX, Bitget and Gate.io.
Currently, the price of PI stands at $1.1681 – which is around 157.44% below its all-time high.
Experts predict that if Binance lists PI, the market could see a new ATH. Many PI enthusiasts strongly believe that it will be listed on Binance in the near future itself.
