19 Responses from He Yi: Regarding Binance Listing, IEO Rumors, and Market Share.

Since the peak of Binance IEO's masterpiece Stepn nine months ago, Binance finally restarted IEO at the end of last year. However, due to the bear market, several IEO markets this year have performed worse than expected, causing some dissatisfaction in the community. The rumors of "girlfriend coins" have become more and more intense. In addition, as one of the largest platforms in the industry, new coins launched by Binance in the past six months often face significant selling pressure, resulting in a situation where they peak as soon as they go online... 

Over the weekend, Binance co-founder He Yi addressed and responded to various doubts and dissatisfaction from community users on Twitter. BlockBeats has compiled the following summary:

On June 4th, He Yi responded to recent market rumors and doubts in the community.

1. Binance still cares about the wealth effect. You can count all the projects listed on various platforms today and see the percentage of those that have fallen below the listing price. Currently, we should still have the best performance.

2. For Launchpad projects, the lowest price we can offer to users is what we can negotiate, so users who participate in IEOs usually make a profit. However, we have no control over the price in the secondary market, and it's up to whoever buys cheap chips or sells early. Binance does not control this, but the project team must unlock according to the public announcement, and Binance will supervise.

3, Binance has no insider trading, no "relative coins", and no "girlfriend coins". Who do I need to please? I am already busy taking care of Binance. Previously, some people tried to use personal connections to list their projects on Binance, but failed. So they made up some jokes about "girlfriend coins" and "relative coins". Isn't it because their projects were not listed on Binance?

There aren't many popular projects in the market, and it's not surprising to guess which hotspots are high. The project parties are now unlocking in single digits, which is not something we can control. If there is heat, people will criticize Binance for not listing it. If there is no wool preheating project, people will still criticize it after investing. It's better to be simple and speak with data. It's not difficult to count them one by one.

4、 Binance Small-scale layoffs occur every three months, and large-scale layoffs occur every six months. The number of employees increased by twice during the bear market from last year to this year, and some elimination was indeed carried out. However, the business was not affected, and only the efficiency was improved. Thank you for your concern.

For a long time before, there was no Chinese communication channel. Recently, there have been many Chinese public opinion water army posts, which is a familiar scene in 2021. However, everyone in the group are old friends, so it is still important to DYOR. Do some research before drawing conclusions. Thank you all.

Community response to user questions and doubts

Binance Listing Criteria?

@web3xiaoba: Let me summarize Sister One's standards for listing: she only looks at the wealth effect, not the technology or innovation. To be honest, the launch price of Launchpad can only be afforded by gods (and robots), while us ordinary investors can only buy in at the secondary market. Most of the time, we are harvested by institutions and project parties.

He Yi: Is this what they call taking things out of context? I was replying to the wealth effect earlier, so I specifically emphasized the investment return rate and suggested comparing all platforms. Technology and innovation are only part of the evaluation system, not everything. Even the sharpest knife in the hands of a thief is only used for robbery.

@YourAirdropETH: Let's not talk about the Education Coin for now. Sei, a project that has only been established for a year and whose test network is still in an unusable state, was able to secure a so-called 80 million financing. How can such a terrible project be listed on Binance? Can you explain the relationship between Sei and Binance? What is the relationship between Multicoin, Jump, and Binance?

He Yi: You see, there are more people criticizing those who don't list on Pepe, and even more people criticizing those who do. Many people think that Binance is stupid for not listing a certain project, but when they do list these coins, it's clear to the discerning eye that they will experience a significant drop, and there will inevitably be another group of people criticizing Binance. Therefore, Binance needs to find a balance when listing coins. When it comes to buying and investing in coins, everyone still needs to DYOR and use math to calculate, rather than blindly following others' recommendations or criticisms and being led astray.

@YourAirdropETH: The secondary market has its own rules, but if a project is subject to so much criticism, don't you think Binance's project selection strategy has recently gone wrong?

He Yi: When Binance launched its platform coin in 2017, there was a lot of controversy surrounding it. Sometimes, it was just a matter of seeing the direction earlier than the market. Listing on Binance is not decided by one person alone. We try to take into account the needs of the majority of users in our listing logic. However, rumors and slander tend to spread more easily. We welcome all big Vs to analyze and compare all the projects listed this year one by one.

Don't even think about throwing the Sei coin that hasn't been released yet to Binance. Even if they release it, the listing team will still look at Sei's community, data performance, and user feedback. Each community has its own "value coin" standard, and even BTC has many critics. The bear market sentiment is depressing, reminding me of the time when the market was soaring in 2019 and 2020, with rampant patterns and exchanges tearing each other apart.

@Kareninyu: The logic here is incorrect, because the money you earn comes from these users. Either you have a vision and follow the correct regulatory path for listing standards, similar to Coinbase, but this may not be realistic at this stage; or you cater to the preferences of retail investors and list coins based on community popularity. Indeed, many of these coins are worthless, but even so, these coins are chosen by users themselves, and should not be selected based on your influence or preferences.

He Yi:

1) Who said that listing on Coinbase means "legitimacy"? It is also welcome to compare Coinbase's listings and, according to US regulatory logic, only BTC and its forked coins are considered "legitimate".

 2) Binance's revenue comes from its users, so the underlying logic of listing projects on Binance is to list projects that can survive for a long time and bring returns to users. This is actually a gap in investment research ability and aesthetic differences. The platform that can identify suitable listing projects and timing in the long term will have users who can survive longer, which is the core competitiveness of the platform.

@Kareninyu: According to your logic, it's just my investment research preferences that are similar to Coinbase, while your investment research preferences are similar to the projects you are working on. I can't argue with this logic in the current cryptocurrency industry. Binance itself is already a well-known brand, and the presence of market makers means that the candlestick chart doesn't look too bad. However, in the end, the overall profit and loss of all retail investors combined, as well as the positive impact these projects have on the cryptocurrency industry, will ultimately determine the facts.

He Yi: Regardless of the current cryptocurrency market, we can start by looking at Coinbase and the significant increase in the number of altcoins. Which trading platform doesn't have market makers? The fact is, whoever stands on the side of the users will achieve long-term success.

@RyanYeSan: There is heat, and Binance will also list it. However, I have not seen any clear guidelines or standard listing processes from Binance. Shi's technology is currently very basic, similar to a dog's bite. Initially, not all CEX, including Binance, listed it.

He Yi: So, it's a balance between quality and quantity. There are hundreds of coins on the platform, so you need to do your own research before buying any coins. Don't blindly follow the trend.

@BTCdayu: I have to emphasize again that both the first sister and CZ are financially free, and they don't care about making money through any project. Therefore, no reader should be petty and judge - this is just the thinking that allows users to make money because Binance is still in 2019. Can users make money by participating in these projects and IEOs? Of course. But why does the market's reputation of Binance decline? It's better to compare it with OKX. I can almost predict 100% of the coins that will be listed on OKX, such as which coins will be listed and which coins cannot be listed - because I know that OKX's standards are absolutely neutral, and they care about the quality of the project and whether it is worth listing. For example, can a popular coin like Pepe be listed on OKX? 100% yes. At that time, I didn't think it could be listed on Binance because Binance's logic is that this kind of hype and dumping will hurt users - and it eventually rose and fell by 70%.

He Yi: Unfortunately, there is no 100% match for your coin listing expectations. Ironically, many people complain that these tokens with small unlocking amounts will cause a sell-off upon listing. Why should exchanges list tokens just to cut users? Binance can only regulate the token model, but has no control over the unlocking percentage, which is related to the token and value models, not controllability.

@who46504471: The coin listing on Binance, to put it bluntly, is helping the project party cut retail investors (you can say it's not intentional), but you earn the coin listing fee, and the project party earns it back from cutting retail investors. How is the project valuation determined? How many of them are truly valued, and how many are just valued at billions or tens of billions of market value for retail investors to take over? You know better than anyone else what's going on, but you're still awesome and refuse to change. When everyone figures it out, your good days will be over too.

He Yi: Some small trading platforms do rely on listing fees to survive, but are you talking about Binance's listing fees from 2017? Speaking of individual projects, more people will criticize a project if it is listed, and even more people will criticize Binance if it doesn't list certain projects. Many people think that Binance is stupid for not listing certain projects, but if they do list these coins, it is clear to the discerning eye that they will inevitably fall, and another group of people will criticize Binance for being stupid. Therefore, Binance needs to find a balance when it comes to listing coins, and it is impossible to be responsible for every project. Everyone still needs to do their own research when investing in coins.

@fengxiao57131: The coins listed on Binance now have market values ranging from tens of billions to hundreds of billions as soon as they are listed. Isn't this a bit excessive? This comes from a Binance veteran user from 2017.

He Yi: Currently, a large number of projects come from the previous bull market and are generally overvalued by capital. Therefore, the prices of projects on Binance's IEO are generally lower than the prices invested by the previous round of capital. If the project is directly listed, the pricing is often based on the market price given by users, and we also think that the market value is very unreasonable.

The above content is from

https://twitter.com/heyibinance/status/1665283110479486976

https://twitter.com/heyibinance/status/1665331086342094850

闺蜜板块&市场份额质疑

translates to

Bestie Section & Market Share Doubts

@7thAnthony: Is it not better to have a legitimate and orderly coin listing process on a trading platform, with transparent and standardized listing requirements? For projects in the same field, which is better for users: a project with high popularity that is "kidnapped" by an exchange for listing, or a project with no popularity but only listed due to connections? I am not fudding Binance, but rather pointing out that all trading platforms have issues with coin listing.

Hook, it makes no sense. It is a Gamefi platform with almost zero community activity. At the time when Binance launched Launchpad, the daily active users were only a few dozen, the Twitter account was newly registered, and there were almost no followers. How did Binance pay attention to such a project? There is no innovation, no popularity, and all the current data is brought by Binance. What is the insider story of this Hook project? From what I understand, Hook is indeed a project of friends/family. I'm sorry, I cannot disclose the source of this information.

He Yi: For any project that comes up, there will always be other projects that are rejected. For those projects that have high attention in the stock market, some people will curse and say that the project team is either technologically stupid, or overly cautious, or not giving away airdrops, or unlocking only single digits, or it's a ghost town. That's why they think Binance is stupid. As for projects in the incremental market, they are just "relationship projects". If you haven't heard of them, you don't know, so they still think Binance is stupid. The so-called source of information is just where the person stands and whether they are a vested interest.

@7thAnthony: My source of information is "Xiao Mei", who has a close relationship with you. I will not publicly disclose any information that starts with "I heard that...". If you do not respond to your relationship with the Hook project, I will reveal more insider information.

He Yi: Welcome to expose, I don't have a best friend, but there are many who claim to be my best friend or relative. CZ's friends are extremely active in the market, using this to get investment quotas or making promises to get listed on Binance as "investors" or "best friends". As for why some people believe it, of course, it's thanks to everyone's contribution. Please just directly scold her next time.

The above content source

https://twitter.com/heyibinance/status/1665326949827325954

@RobertWeb3Miner: After you took over the Binance market, the market share has been declining, which is a strong proof.

He Yi: I joined Binance in 2017 and its market share has never declined since then. I have encountered more FUD than you can imagine, but I focus on my work and strive to be a better person.

@RobertWeb3Miner: Deliver the trading platform system that you sold to us in 2017, you took the money but didn't deliver the system. Don't cheat people for money and avoid doing your job. Otherwise, the blame for Binance, which was led by you, will fall on your former colleague Justin Sun.

He Yi: Who did you contact to buy the trading system? Please provide payment records. I don't know which company you are from, but I haven't received any money from you. I can check if Binance has received any payment from you. There is a debtor for every debt. You can send me a private message. It seems that you are also an old-timer in the cryptocurrency industry, but you speak with resentment. It seems that your luck is not good. I suggest you curse others less, because it will backfire on yourself. And Justin Sun is not my former colleague, thank you!

The above content source

https://twitter.com/heyibinance/status/1665307653759795200

About IEO and User Benefits

@qkldaliang: Binance, a dominant player in the industry, has developed a habit of taking advantage of its position. Binance IEO should have a dedicated development team that operates like Tencent Games, with a streamlined production process. In the early stages, Binance focused on acquisitions, but after monopolizing the market, it shifted its focus to internal development. Additionally, regarding IEO, it is described as protecting the interests of users, but it is more accurate to say that it protects the interests of long-term BNB holders. Those who did not hold BNB or bought it to participate in IDO at the time, generally did not profit.

He Yi: IEO and Pool are benefits for Binance users. Binance users can obtain first/early tokens at a cost lower than the market cost or for free. BNB holding users may have a clearer understanding of the profits, and there is a large amount of online data to support this. Since these projects are based on Binance's initial launch, the team's token unlocking will be more closely monitored after being listed on Binance. These projects are not controlled or operated by Binance, so there is no need to imagine a business war. Binance has the best project resources in the cryptocurrency industry. Once a project is successful, it becomes a leader in the industry. Therefore, the feeling of Binance being uncontrollable is real.

@btcpiggy: Actually, the recent small coin problem on Binance is quite serious. Look at the IDs on your platform, the big Vs are shouting out, and the retail investors are being cut. The projects are organizing it. ARPA has plummeted. EDU's AMA caused a short-term crash. I can understand Lina, and the adjustments you made later were good. But for the first three coins, can you explain? Can they be delisted for malicious trading or cutting leeks?

He Yi: The LPD project's wallet and market maker accounts are monitored, and the LPD project token currently requires the project party to hold the token in multiple custody as part of mutual supervision.

@btcholdermnx: I trusted you and bought BNX and EDU, but they both ended up being completely worthless.

He Yi:

1) Trust me, I started buying BNB in 2017 and have repeatedly stated that Binance only recognizes BNB.

 2) BNX's comment is that in 21, BNX received JEX. I advise holding JEX in early 2017 and switching to BNX. From DeFi Summer, BNX3 and BNX4 rose from a few dollars to a high of $200, then split and fell.  

3) Binance IEO projects generally have prices lower than the financing prices of the capital side, which is a benefit for Binance users. Once again, I emphasize that I do not endorse any projects other than those involving BNB. Please DYOR.

The above content is from 

https://twitter.com/heyibinance/status/1665277339209433088

https://twitter.com/heyibinance/status/1665310067606925315  

Products & Others

@Bono47280966: Can you improve the interoperability between web3 wallets and Binance, add support for multiple chains, and make it easier for exchanges to transfer funds to the blockchain?

He Yi: Good, very good suggestion. Currently, the Binance web3 wallet is in the testing phase and is continuously adding support for multiple chains. Thank you for your support.

@ccksbhaha: Sister, previously we invested in the leading project GMX in the Arb ecosystem. Can we get in early on the leading project in the ZKS ecosystem? I don't want to be a follower again.

He Yi: So, there are still people who remember that ARB was listed on Binance this year?

@TooLooGAS: After experiencing some things, I feel that I can't point fingers at some people or companies anymore. I just objectively ask, will the future value of EDU and HOOK be positively reflected? How can ordinary people draw useful things from it, or what is its future significance for us? (I'm not asking about the price of the currency.)

He Yi: Pay attention to the regular updates and business reports of the project party. The essence of Hook is an advertising platform. For EDU, we need to look at the health of Tinytap's revenue and user data. Finally, we need to see if these two projects can attract non-crypto users and revenue. In the current bear market, if the project party cuts the leeks and users are completely internalized, the industry will only become smaller and smaller.

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