In a new “Ask Me Anything” Changpeng Zhao, CEO at Binance, revealed that Binance Chain – the decentralized exchange (DEX), will charge a listing fee for new currencies to be accepted.
$100K to Get on Binance Chain
Binance shared the transcript of a new AMA held with company’s CEO Changpeng Zhao. One of the things many were questioning was whether or not Binance Chain will require a listing fee.
Perhaps one of the reasons for which this triggered interest was because Binance’s CEO, on multiple occasions, said that the DEX is intended to support “millions of coins”.
During the AMA, Zhao revealed that the fee to list a coin on Binance Chain “will be probably close to $100K US.”
He also confirmed that he has set the fee so high deliberately, in an attempt to reduce the number of spam and scam projects.
Additionally, Zhao revealed that there’s also a voting process by validators which needs to pass in order for a coin to be listed on the DEX.
Binance Chain Supports “Couple of Thousands” TPS
Another interesting take from the AMA was the fact that Binance’s DEX already supports ‘couple of thousand’ transactions per second (TPS).
This is also an important consideration, given their bold plans to support millions of coins. However, Zhao also outlined that they can scale the number of TPS up if that’s needed.
At the current time, nevertheless, Binance DEX can handle the volume of their existing centralized solution – Binance.com.
We designed the DEX so it can handle the capacity on the centralized exchange. My guess is, it’s going to be ok for a while and we can scale that horizontally if we want to, in terms of volume. – Said Zhao.
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