Binance, the world’s leading cryptocurrency exchange by daily volume, has announced it will be publicizing all listing fees and donating the entirety of proceeds to charity with immediate effect.
Token projects seeking to be listed on the exchange will continue to be allowed to propose their own listing fees. The exchange will neither dictate such fees nor impose a minimum pricing level, the company’s blog post indicates.
While Binance has in the past taken fees to add a lucrative project to the exchange, Binance CEO Changpeng Zhao has previously spoken about the issue stating it was never about making money off listings but ensuring quality over quantity.
CZ added that listing fees helped his exchange sift through projects and weed out those that felt “entitled”, from those who “appreciate value”.
Now, cryptocurrency projects will be able to decide what kind of fee they want to pay. In essence, this fee will be a donation to charity through Binance. The exchange will then disclose the fee to the public via their charity initiative, the Blockchain Charity Foundation.