How much does it cost to list a blockchain project on Binance? Answer: Quite a lot. In fact, Jared Tate, the founder of DigitByte token approached Binance for a listing. After a video call, he was told:
- Binance will charge $300,000 as listing fee
- Binance will also take 3% of the DBG (DigiByte) token
As per the tweet, the 3% token acts as an insurance for the Binance customers against blockchain hacks and defects. With this context, the founder went onto explain more about DigiByte token, why they are truly decentralized, and how they cannot meet this “fee” requirement.
It is no surprise that Binance listing fee varies. Every listing fee, as per our research, is also donated to the Binance Charity Foundation.
From the 2017 article published LinkedIN, Binance CEO Changpeng Zhao says the listing fees is donated and tracked on the blockchain:
In another tweet published this year, CZ doesn’t consider listing fee as the most important part of the equation. He believes selecting a good project is vital for the growth of the industry.
In any case, to afford $300,000 and offer a portion of the token, can be an obstacle for several blockchain projects.
The post Binance Token Listing Costs $300,000 + 3% Tokens, Says DigiByte Founder appeared first on LuvCrypto.
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