Binance expands Monitoring Tag to include five more tokens, EPX, FOR, UNFI, WAVES, and WNXM, requiring traders to pass a quiz and accept Terms of Use.
Binance, the largest cryptocurrency exchange, has revealed that it will expand its Monitoring Tag to encompass EPX, FOR, UNFI, WAVES, and WNXM starting from April 3, 2024. The Monitoring Tag is a designation given to tokens that exhibit higher volatility and risks compared to other listed tokens.
Tokens labeled with the Monitoring Tag undergo regular reviews by Binance to ensure they meet the exchange’s stringent listing criteria. These ongoing assessments assess various factors, including the team’s commitment to the project, the level and quality of development activity, trading volume and liquidity, network stability and security, public communication, and responsiveness to due diligence requests.
To trade the tokens marked with the Monitoring Tag, users will be required to pass a quiz every 90 days on the Binance Spot and/or Binance Margin platforms. This quiz is designed to educate users about the risks associated with trading these volatile tokens. Additionally, users will need to accept the Terms of Use before gaining access to these tokens.
The Monitoring Tags for EPX, FOR, UNFI, WAVES, and WNXM will be visible on the corresponding trading pages on Binance’s Spot and Margin platforms, as well as on the Markets Overview page. A risk warning banner will also be displayed for all tokens with the Monitoring Tags, ensuring that users are fully aware of the associated risks.
Binance will conduct periodic project reviews and may decide to add or remove the Monitoring Tag based on its latest findings. The exchange’s objective is to contribute to a healthy and sustainable crypto ecosystem, promoting transparency and long-term growth.
It’s important to note that the addition of the Monitoring Tag to these tokens will not impact other services related to them. The Monitoring Tags for EPX, FOR, UNFI, WAVES, and WNXM will be updated shortly after the release of this announcement.
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