Why Did Binance Delist Autofarm from buzai232's blog

Why Did Binance Delist Autofarm

Getting a token listed on the world's largest Centralized Exchange is a milestone achievement for any crypto project, and typically leads to a major boost in market capitalization. But what Binance gives, it can take away.To get more news about BINANCE, you can visit wikifx.com official website.

The recent announcement from Binance that it was delisting several tokens sparked outcries from the projects and responses from Binance CEO Changpeng Zhao (CZ) himself.The yield aggregator platform was once the largest on BNB Chain and at one point in April 2021 had a peak $2 billion in Total Value Locked, according to DefiLlama. Now its TVL is at $21 million across several chains.

The market cap of $AUTO once reached nearly $200 million in February 2021 but sat below $20 million for most of 2022 and after a sharp decline since the Binance announcement, now is at just above $10 million.

The other tokens losing their Binance listing are $QLC from Kepple (formerly QLC Chain) and $NEBL from Neblio.The Kepple team reacted to the announcement with dismay, saying they had been waiting on Binance's due diligence decision "for weeks" as Kepple is swapping the QLC token for KPL.

Kepple managed to bring its concerns to CZ's attention, exchanging replies on Twitter. CZ said Binance does not pre-notify projects that their tokens are being delisted, but makes the announcement at the same time to all users.CZ continued on to say that, in Kepple's case, he was told the project had stopped actively developing and was " recently "sold" to a different project, which currently do not meet our listing standards."

Binance positions itself as the world's leading blockchain ecosystem and crypto-asset infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. The Binance platform aims to increase the freedom of money for users and features a comprehensive portfolio of crypto-asset products and offerings, including trading and finance, education, data and research, social good, investment and incubation, decentralization, and infrastructure solutions.