Original | Odaily Planet Daily ( @OdailyChina )
Author | Asher ( @Asher_0210 )
In the first quarter of this year, the popularity of BNB Chain continued to rise, becoming the focus of market attention. Initially, the market value of TST, a test token in a teaching video, soared 100 times to $500 million in just three days under CZs unofficial but tacit attitude. This TST token experiment ignited market sentiment and pushed BNB Chain into an explosive stage.
Subsequently, the popularity of BNB Chain further escalated. After Binance received a $2 billion investment from the UAE sovereign fund MGX, CZ mentioned the word Mubarak in his post, which once again strengthened the markets confidence and expectations for BNB Chain.
At this time, Binance launched the first round of voting for listing, pushing the communitys pursuit of BNB Chain to a new high. Next, Odaily Planet Daily will take you to deeply analyze the details of Binances first round of voting activities, participation paths, and the phenomenon of vote manipulation.
2 projects were selected from the first round of 9 projects to be listed on Binance
Activity Details
According to Binances official announcement, the first round of voting will last until March 27. Users need to hold at least 0.01 BNB to participate, and each user can vote for up to 5 BNB Chain ecosystem tokens. The first batch of candidates includes 9 projects: BANANAS31 (Banana For Scale), BID (CreatorBid), Broccoli (Broccoli), Broccoli (CZS Dog), KOMA (Koma Inu), SIREN (SIREN), mubarak (mubarak), TUT (Tutorial), and WHY (why). The top two in the final vote will enter Binances professional due diligence process.
How to participate
As long as the real user meets the condition of holding at least 0.01 BNB, the voting process is very simple. The specific operation process is shown in the figure below.
Binance Voting for Listing Operation Flowchart (I)
Binance Voting for Listing Operation Flowchart (Part 2)
Binance Voting for Listing Operation Flowchart (Part 3)
All candidate currencies are listed on Binance Futures, and the ranking determines the currency price trend
After the voting activity for listing coins was launched last week, the ranking changes of the top-ranked projects were highly correlated with the coin price. Since all candidate coins for this voting have been listed on Binance Futures, the short-term price game is particularly fierce. Although mubarak was the most popular coin before this activity, it was overtaken by SIREN in the voting ranking last Friday (March 21) and fell out of the top two. Mubarak fell by more than 15% in 12 hours, and SIREN also rose by more than 30% in 24 hours because it entered the top two.
Top 3 data on March 21
In addition, there are tokens like TUT that have successfully entered the candidate list for the first round of voting on Binance. Driven by market sentiment, TUT soared by more than 100% on the day of voting, but then the price continued to fall and failed to maintain the upward trend. As of now, its price has even fallen back to the level before the launch of the event.
As of now, the top three on the list are: Banana ( BANANAS31 ), SIREN, and Brocoli (CZS Dog).
Community voting for listing may be accompanied by “vote manipulation”
No matter whether it is the issuing team or the major holders, no one can refuse the opportunity to list spot products on Binance. In the face of the huge benefits of potential listing on Binance, in order to get their own tokens listed, spending money to collect tickets is an inevitable phenomenon.
Odaily Planet Daily received feedback from many users that there is indeed a phenomenon of vote fraud. In the past few days, some people have continued to collect Binance listing tickets, and the price of one ticket ranges from 20 to 50 yuan. The current price is stable at 30 yuan. In response to the vote fraud behavior, Binance Co-founder He Yi also stated that he would eliminate cheating behavior through ticket washing to ensure voting fairness.
Off-site ticket collection
Many users believe that the voting threshold of 0.01 BNB is too low, making the cost of voting extremely low, and even forming an industrial chain. At the same time, the voting mechanism lacks KYC time limits, which further reduces fairness. In addition, since voting is not highly correlated with BNB holdings, the incentive effect on BNB holders is limited. In contrast, voting with money may be more credible than voting with people, and it can also motivate BNB holders to promote the development of the supported projects. There are even community members who believe that candidate token holders should be allowed to vote, which can better reflect their community enthusiasm.
Mubarak or win is bigger
Despite the vote manipulation phenomenon, Binance made it clear in the announcement that although it will pay attention to and refer to the voting results, the final listing decision will still be based on the official review process and standards. In other words, the voting results are not the only factor that determines the listing on Binance. The key indicators of the candidate tokens, such as trading volume, market value, and community popularity, may also be important criteria for Binance to consider. Mubarak may have a better chance of listing on Binance spot.
From a data perspective, mubarak is the “Meme Dragon One” of Binance Alpha. According to Dune data, Binance Alpha 2.0’s trading volume has exceeded $100 million since its launch a week ago, of which 31.0% of the trading volume comes from mubarak and 13.1% from TUT.
Binance Alpha 2.0 trading volume since launch
From a social perspective, CZ has mentioned Mubarak frequently before. From CZ retweeting Binances official tweet with the text Mubarak🌛 to attract attention, to community users posting the MUBARAK = CZ meme, CZ personally retweeted it with 😂 to boost popularity. Later, he dug out the Inshallah tweet from 2021 and pinned it to further strengthen the cultural connection with the Middle East. Then, he posted Meet a friend on the weekend on Binance Square and attached a Mubarak-related meme, and finally changed the X account avatar to be more closely tied to Mubarak.
CZ retweeted Binance’s official tweet and captioned “Mubarak🌛”
CZs series of actions showed his love for the mubarak meme and also brought huge traffic to the currency.
So, after the first round of voting for listings ends on March 27, will Binance finally list the top two projects directly, or will it set other additional conditions to choose Mubarak with more solid fundamentals? Odaily Planet Daily will continue to pay attention and bring the latest reports.
