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Binance delists privacy coin Monero XMR, cross-chain bridge token MULTI, signaling the end of different eras.

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Binance delists privacy coin Monero XMR, cross-chain bridge token MULTI, signaling the end of different eras.

Binance announced that it will delist privacy coin XMR, cross-chain bridge coin MULTI, Aragon (ANT), and Vai (VAI) on the morning of 2/20. These protocols have enjoyed some level of popularity in the past but are now leaving the largest market, possibly due to various factors.

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Binance announced that it will delist privacy coin XMR, cross-chain bridge token MULTI, Aragon ANT, and Vai VAI on the morning of 2/20. These protocols have enjoyed some popularity in the past but may now be leaving the largest markets due to various factors.

Privacy coin Monero XMR, ranked 33rd by market capitalization, has faced increasing challenges due to regulatory issues. Countries like Japan, France, Poland, and Spain have already banned the listing of privacy coins.

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Cross-chain bridge token MULTI has experienced several hacking incidents in the past, and the founder was reportedly arrested by Chinese authorities last year, leading to some assets being unable to be withdrawn.

Aragon ANT is an infrastructure protocol for the first generation of DAO, aiming to modularize the establishment of decentralized autonomous organizations and provide tools to manage DAO. However, the entry of radical investors into its decentralized governance, internal conflicts, legal disputes, etc., have led to up to $75 million exiting its ecosystem.

Vai VAI is a synthetic asset stablecoin VAI launched by the largest lending protocol Venus on Binance Smart Chain, with a market value of $6.47 million. Its initial design was to allow Venus collateral to borrow a certain value ratio of stablecoin VAI for utilization. However, it seems that this product did not gain widespread adoption in the end.

Binance stated that the review for delisting is typically based on the following reasons:

  • Team commitment to the project
  • Level and quality of project development
  • Trading volume and liquidity
  • Stability of the network/smart contracts
  • Community maintenance
  • Response to Binance's periodic reviews
  • Unethical/fraudulent behavior
  • Contribution to the overall blockchain ecosystem development