- From Tuesday, April 18, users will have unrestricted access to all of these tokens.
- Binance also looks for indications of unethical behavior and neglect by projects.
On Monday, the largest cryptocurrency exchange in the world, Binance, said it will be removing Shiba Inu (SHIB), 1INCH, Trust Wallet Token (TWT), and Frax Share (FXS) from its Innovation Zone.
#Binance will move the following tokens out of the Innovation Zone:
— Binance (@binance) April 17, 2023
🔸 $SHIB
🔸 $FXS
🔸 $TWT
🔸 #1INCHhttps://t.co/BepOq4WVYm
Binance’s Innovation Zone is where the platform’s most cutting-edge projects’ tokens are made available for trading. Several tokens listed in Binance’s Innovation Zone, including Shiba Inu (SHIB), 1INCH, Trust Wallet Token (TWT), and Frax Share (FXS), will be removed, as stated in an official notification made on April 17.
Unrestricted Access
From Tuesday, April 18, users will have unrestricted access to all of these tokens. Innovation Zone projects are subject to periodic assessments by Binance. The coins for these projects have proven their worth and quality. Hence the exchange is removing them from the Innovation Zone.
During routine evaluations of ongoing projects, Binance takes many things into account. The size and cohesiveness of the project’s community, the volume and quality of development activities, the ease of trading, the reliability and security of the network, and so on all factor in.
Binance also looks for indications of unethical behavior and neglect by projects. As well as the project’s compliance with periodic due diligence inquiries.
Since the debut of Shibarium Beta “Puppynet” last month, the Shiba Inu community and trading volume have exploded. The number of SHIB-holding wallets and initiatives working with Shibarium is constantly growing.
Similar has been the case with other digital assets announced alongside SHIB. Growing development, increased liquidity, the debut of the 1inch stablecoin ($1IS), and the introduction of the 1inch Wallet have all contributed to 1Inch Exchange’s meteoric rise to prominence in the cryptocurrency community.
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