After detection of trading irregularities, Benance has banned a market manufacturer associated with Goplus Security and MyShell.
As of 9 March Announcement On the official blog of Binance, the exchange has terminated the unit from the activities creating the unit and seized its income to compensate for the affected users. The details of the compensation scheme will later be declared by the respective projects.
There are market manufacturer companies or people who constantly buy and sell orders to ensure smooth trade and low price instability. However, the practice of creating immoral market, such as order book manipulation, may distort prices or give unfair advantage to market manufacturers.
The market manufacturer under consideration was found to break the rules of the binense, including maintaining a proper order book with balanced purchases and selling, ensuring adequate liquidity and preventing disruptive trading behavior. To protect the user’s interests and market integrity, Benance closed the unit.
After the announcement, the investor uncertainty dropped the GPS over 14%, while the decline of 4%since Shell has been cured. Binance has confirmed its commitment to all market participants to implement strict adherence to trade standards and take appropriate action against those who do not comply with.
This action is a part of the large initiative of Benance to improve accountability and transparency. Users can now vote on token listing and delisting, thanks to a new governance model that the exchange introduced on 7 March. At least 0.01 BNB holding users will be able to affect which projects are listed or removed.
Binance has also added several listing features, including pre-market trading, direct spot listing and launchpool farming incentives for some tokens. According to the exchange, it does not apply listing fees and will tell users when projects allocate marketing budgets for their listing. Such funds will then be given back to users such as aircraft.
Regarding the current status of the Cryptocurrency region, the founder of Benance, Changpeng Jhao, was noted in March. Post The X is pursuing short -term benefits rather than helping moral teams for the purpose of long -term development on X. He emphasized the need for patience and strategic investment for long -term success in the Cryptocurrency industry.
