The world’s largest crypto exchange Binance announced on Monday that it has decided to remove Shiba Inu (SHIB), 1INCH, Trust Wallet Token (TWT) and Frax Share (FXS) from the Innovation Zone.
Binance allows users to trade new and innovative projects by placing these tokens in Innovation Zone. It allows the crypto exchange to balance commitments to spread the freedom of money and keep users safe by restricting and warning users about potential risks of investing in new tokens.
Binance will remove Shiba Inu (SHIB) after release of Shibarium Beta
According to an official announcement on April 17, Binance plans to pull Shiba Inu (SHIB), 1INCH, Trust Wallet Token (TWT), and Frax Share (FXS) out of the Innovation Zone. Users will have full access to these tokens starting Tuesday, April 18.
Binance periodically reviews projects listed in Innovation Zone. Since these projects have proven their worth and meet a high standard, the exchange moves the tokens of the projects out of the Innovation Zone.
Binance considers several factors during periodic project reviews. It includes the dedication of the project team, level and quality of development activity, trading volume and liquidity, network stability and security, and project community size and communication. In addition, Binance verifies that the project responds to periodic due diligence requests, contributions to the crypto community, and evidence of unethical practices and negligence by projects.
Shiba Inu has witnessed tremendous trading volume, development activity and community participation following the release of Shibarium Beta “Puppynet” last month. The number of portfolios with SHIB and projects that collaborate with Shibarium is constantly increasing.
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