Binance Opens 'Innovation Zone' for New DeFi Tokens

Binance Opens 'Innovation Zone' for New DeFi Tokens

By Abhimanyu Krishnan | News | 24 Sep 2020

Binance has launched a new “Innovation Zone” for select users to trade upcoming DeFi tokens, according to a blog post published on September 21.

  • The Innovation Zone was motivated by the desire to bring a balance of accessibility to DeFi coins while enabling consumer protection
  • However, Binance said that it will indeed list DeFi tokens with no founders 
  • CEO Changpeng Zhao emphasizes that trading new DeFi tokens is risky and drives home the point that there is a greater than 50% chance that one will take losses
  • He hopes that only those who understand that probability and only hold themselves accountable will trade in the Innovation Zone
  • The gist of the Innovation Zone is that it is a place where a new token can gain liquidity quickly, investors can find lucrative investment opportunities
  • The DeFi market is plagued with fake or easy to create tokens with no value, which exchanges like Uniswap have urged caution against

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Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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