Key Highlights:
- CZ emphasizes that strong projects do not need to pay listing fees.
- He Yi clarifies Binance’s listing process.
- CZ urges products to focus on project value rather than criticizing competitors and exchanges.
Binance’s former CEO Changpeng Zhao (CZ) recently posted on social media platform X (formerly known as Twitter) and expressed his opinions on crypto projects on exchanges and the listing fees. According to his post, strong crypto projects do not need to pay listing fees or ask exchanges for listings. In the post, he also urged the project developers to focus more on their products and communities, noting that top exchanges will naturally compete to list quality projects.
CZ’s post has come at a time when debates about listing fees and airdrop rules have gained a significant attention towards them, especially from smaller projects claiming some exchanges set unfair conditions. He explained how different exchange models operate and advised against what he called unhelpful complaints from projects and traders.
However, some critics put out a perceived double standard, and pointed out that BNB (Binance’s native token) is not listed on Coinbase. They argued that if CZ is giving advice on fair listing practices, his own token should be available on major exchanges to set an example.
“If You Have to Beg, Ask Why”
CZ’s post started by speaking to crypto startups that are usually always crying about the listing rules or airdrop expectation. He stated “If your project is strong, exchanges will race to list your coin.” he wrote, adding that teams pushing too hard for listings should rethink their project, and the value they provide to users.
He explained that exchanges are just businesses with which you can earn money in different ways. Some rely on listing fees, while others make income from trading fees, staking, or user engagement tools. In this view, no single model is right or wrong, and decentralization lets each exchange run its operations independently.
“If you complain about a competitor exchange’s listing fees, then by all means, make your own listing fees 0, and be happy.” he joked, saying that competition and choice benefit users. Instead of worrying about competitors, CZ advised teams to “treat users well and focus on your project.”
Exchanges Follow Diverse Listing Models
CZ in his post on X, outlined three main ways exchanges handle token listings:
- Open listing: Platforms that list nearly every token across blockchains to cover the market, though this has a significant amount of risks.
- Fee-based listing: Exchanges carefully choose tokens and charge fees to support operations and filter projects, which is common with smaller platforms.
- Deposit or airdrop-based listing: Platform that asks projects for refundable deposits or airdrop to lower scam risks and protect users.
CZ then pointed out that most exchanges, which also includes Binance, use a mix of these models depending on the product, such as spot markets, futures, or new features like the “Alpha” launches. In a decentralized industry, no one is forced to use just one model, which implies that CZ is emphasizing that exchanges are free to test different fee and engagement approaches.
Users Should Direct Complaints to Projects
CZ also brought up complaints as well in his post. He addressed the investors, especially those holding undervalued or delisted tokens, to take issues up with the project teams rather than blaming exchanges. “If you are a bag holder, complain to the project or use a DEX,” he said, pointing to decentralized exchanges like PancakeSwap, which do not charge listing fees but still manage strong trading volumes.
He Yi Clarifies Binance’s Listing Process
After CZ’s post, Binance Co-founder He Yi explained the Binance listing process through an X post. She explained that all deposits for listings on Binance are refundable. Marketing fees fund initiatives like Binance Square, Academy content, and trading competitors, while project-driven airdrops are also supported. Each listing includes detailed reports for project teams, which makes sure that there is transparency and fair exposure for genuine blockchain projects.
Focus on Building, Not Complaining
CZ has made one thing clear, value-driven projects will gain exchange listings and community support on their own, while weaker ones rely on complaints. CZ summed it up: “Work on your project, not other people.” This reflects Binance’s long-standing view which is to focus on building real products, stay transparent, and let the market decide the true value.
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