Binance Introduces Mubarak, Broccoli in Initial Token Batch Voting

Binance has revealed the first set of tokens in its "vote to list" initiative, which includes the memecoins Mubarak and Broccoli.

This revelation comes after Binance, the leading global cryptocurrency exchange, recently introduced its community co-governance campaign. 

Individuals within the Binance ecosystem have the ability to vote to determine which tokens get listed on the exchange or are removed, following established due diligence guidelines. Holders of BNB (BNB) have embraced this move, and Binance has now disclosed the initial batch of "vote to list" tokens.

According to the exchange, this initial list will only feature tokens from the BNB Chain ecosystem. However, future voting rounds will incorporate tokens from Binance Alpha as well.

Binance will take into account several metrics or factors before adding tokens to the pool, such as project fundamentals, user adoption, tokenomics, and technical risk assessment. An evaluation of the team and compliance are also crucial considerations.

"We are now inviting votes for the following projects, from which two tokens will be chosen for listing on Binance after completing our official due diligence and procedures," the exchange stated in the announcement.

Which tokens are part of Binance's "vote to list" batch

Nine tokens have been chosen for the first batch. These include the recently popular BNB Smart Chain memecoins MUBARAK and Broccoli. 

Other tokens are Banana For Scale, CreatorBid, CZ’s Dog, Koma Inu, SIREN, Tutorial, and WHY.

Most of these tokens have seen significant price increases in the past 24 hours, with CZ’s Dog up 104% and Bananas For Scale +27%. Mubarak, which surged amid Changpeng Zhao-driven momentum, has reduced some of its gains. The memecoin was trading -32% at the time of writing.

While traders are seeking the next memecoin gem, some industry experts have pointed out that most of these viral tokens will eventually become irrelevant.

In a recent interview with Bloomberg, ARK Invest CEO Cathie Wood shared her opinion that the majority of these internet meme and animal-themed memecoins will ultimately become 'worthless'. Only a select few may survive the rollercoaster and establish themselves as ecosystem mainstays.