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Binance Chain Will Charge $100K Listing Fees

In an effort to bring new clarity and transparency to upcoming developments, Changpeng Zhao, the CEO of Binance, recently held an ask-me-anything (AMA)_ during a livestream on Twitter. For those that are unaware, Binance is the world’s largest cryptocurrency exchange, by daily volume. During the stream, he revealed details about Binance’s new decentralized exchange, Binance Chain.

Specifically, Zhao stated that there would be a fee to list a project on the DEX. He actually elaborated that he purposely set the fee “a little high”, at $100,000 USD. The idea is to have a fee at that number to reduce the amount of illegitimate projects that are listed on the exchange.

About The Stream

During the stream, thousands of viewers tuned in to ask Zhao various questions about the direction of Binance, and even personal questions about Zhao himself. He answered 73 questions that varied widely.

For example, when a user asked where he sees Binance in five years; Zhao pointed out that Binance should either be building infrastructure, or “investing in projects that are building infrastructure”, with regards to the blockchain/cryptocurrency sector. He also elaborated on his tweets that Amazon would issue its own cryptocurrency, emphasizing that “I’m not talking to anybody at Amazon”.

Binance Chain Details

It should be noted that Zhao did not claim that the fee was set in stone, but simply seemed to use the number as a placeholder. He also stated that it wasn’t just about a fee, but that there would also be validators that would vote on whether a project should be listed on the DEX (decentralized exchange).

Zhao was not shy about his expectations for Binance Chain, reiterating that he does believe that the exchange will list many tokens. Specifically, he repeated his idea that, in the future, “there will be millions of tokens and probably thousands of blockchains”. He even stated that the DEX can handle the existing Binance.com volume, as well.

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