Binance Adds Risk Warnings for Cryptocurrencies with Altered Tokenomics

• Binance introduces risk warnings for tokens with significant tokenomics changes, improving user awareness before trading.
• Tokens like Travala, Chiliz, and IOTA are among those affected by Binance’s new transparency measures due to recent tokenomics shifts.
• Binance ensures enhanced user protection by requiring acknowledgment of risks when trading tokens with notable tokenomics changes.

Binance announced new measures to increase transparency and user safety on October 1, 2024.

The world’s leading cryptocurrency exchange will now display risk warning banners and pop-up notifications for tokens that have undergone notable changes to their tokenomics. This move aims to ensure traders are fully aware of the potential risks involved before they proceed.

New Risk Warnings Follow Community Feedback

Binance made this decision in response to community feedback calling for greater clarity regarding tokens with major shifts in their token supply or tokenomics. The risk warnings demonstrate Binance’s commitment to maintaining a transparent trading environment. These measures apply to tokens that have undergone significant tokenomics changes in the past 18 months.

In addition to the risk warning banners, users must acknowledge a pop-up notification before trading tokens marked with these changes. This extra step ensures users are fully informed of the potential risks.

Tokens Affected by the New Risk Warning Measures

Binance identified several tokens that will carry the new risk warnings, all of which experienced notable tokenomics adjustments over the last 18 months. These include:

Binance has identified several tokens that will now carry new risk warnings, particularly those affected by notable tokenomics adjustments over the last 18 months.

• Travala (AVA), priced at $0.47 with a market cap of $25.7 million. AVA has a maximum supply of 100 million coins.
• Chiliz (CHZ), trading at $0.06 with a circulating supply exceeding 9 billion coins and a market cap of $559.9 million.
• Enjin Coin (ENJ), priced at $0.15, with a circulating supply of over 1.7 billion coins and a market cap of $267.5 million.
• IOTA (IOTA), valued at $0.12 and has a circulating supply of 3.4 billion coins, resulting in a market cap of $425.9 million.
• Lisk (LSK), trading at $0.83 with a market cap of $121.3 million and a circulating supply of over 145 million coins.
• Metal DAO (MTL), priced at $0.97, with a circulating supply of 66.5 million coins and a market cap of $64.9 million.
• Orion (ORN), priced at $1.14 with a circulating supply of 34.1 million coins and a market cap of $38.8 million.
• Self Chain (SLF), trading at $0.39, with a circulating supply of 97 million coins and a market cap of $37.9 million.
• Solar (SXP), priced at $0.23, with a circulating supply of 618 million coins and a market cap of $144.5 million.

Read also: ORN’s Price Declines Following Binance Delisting Update

Binance’s Ongoing Commitment to User Safety

Going forward, Binance stated that any tokens undergoing significant changes to their tokenomics or substantial increases in token supply will automatically receive the same risk warning banners and notifications. These changes reflect Binance’s mission to build a transparent and sustainable crypto trading ecosystem.

The platform remains focused on fostering a secure environment for all users. The introduction of these measures should significantly improve user decision-making by helping them navigate the complexities of tokenomics.

Other Services Remain Unaffected

It is important to note that other services related to the impacted tokens will remain unaffected. The risk warnings focus solely on the tokenomics changes, and Binance assures users that trading functionalities and token listings will continue as normal. In the future, any discrepancies in translated versions of this announcement will defer to the original English version for the most accurate information.