- Binance has introduced risk warning banners for ten tokens.
- Users will need to perform a specific action before trading these tokens.
- The exchange said the move enhanced transparency and platform quality.
The world’s largest crypto exchange by trading volume, Binance, has introduced a risk warning banner for ten tokens listed on its platform.
According to an announcement on October 1, the move followed concerns raised by users regarding the tokens, which Binance said have undergone “significant” changes to their tokenomics and supply in the past 18 months.
Binance Flags Risky Tokens
Tokens that will feature a risk warning banner on Binance starting Tuesday include Travala (AVA), Chiliz (CHZ), Enjin Coin (ENJ), IOTA (IOTA), Lisk (LSK), and Metal DAO (MTL). Other tokens that made it to the list are Orion (ORN), Self Chain (SLF), Solar (SXP), and Vanar Chain (VANRY).
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Noting that the action would increase transparency and maintain a high-quality platform for traders, Binance asserted that users would need to acknowledge a pop-up notification alongside the risk warning banners before gaining trading access to the affected tokens.
“Moving forward, any listed tokens that undergo significant changes to their tokenomics or experience a substantial increase in token supply will also be subject to the risk warning banner and pop-up notification,” Binance cautioned.
Per the announcement, introducing risk warning labels won’t affect other services related to the flagged tokens. Binance clarified that its goal with the measures was to help users make prudent decisions and promote long-term growth within its community.
The exchange didn’t state how long the risk warning banners would remain or whether they would be removed in the future.
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