Binance Listing Fee Fight: What's a Fair Price to List on the Top Crypto Exchange? - Ep. 925
Episode publishedPodcast: UnchainedUnchained
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This is like a general kind of macro trend and and way of which is happening. The revolution will not be centralized.
The whole idea of a centralized company charging for charging fees for a listing, getting some of the token, and then dumping it on, like, retail. As CG said, it's antithetical to really why I care about this space and why I'm here. Here.
Hi, everyone. Welcome to Unchained, your no hype resource for all things crypto. I'm your host, Laura Jin. Today's topic is Binance and token listings. Here to discuss are CJ Hetherington, CEO and co founder at Limitless Labs, and Nick Tomato, founder and general partner at One Confirmation. Welcome CJ and Nick.
What's up?
So CJ, you went viral on Tuesday with a tweet in which you revealed the terms that Binance offered to you to list your token on their exchange. I'm just gonna read what you tweeted. 1% airdrop on day one alpha listing, 3% further airdrops in six months, 1% Sorry, so this is like 1% of your token for this airdrop, etcetera. So 3% for further airdrops in six months, 1% for marketing at Binance. Binance has full discretion. They would provide 100% of TBL for the token pool and pancake swap at $1,000,000 plus. Would have to put down a $250,000 security deposit, 3% of the tokens reserved for BNB HO
Well, you know, I think it was a very unique case because there were no confidentiality agreements in place. So I wasn't actually, you know, obliged to necessarily keep any of that information secret. And, you know, I think that truth is a very important thing, and we need more of it in the world. And there's a lot of, you know, speculation and back and forth about how sexless things actually work and finance in particular. And I think that it was just, you know, my hope that by sharing this, we can actually move the space forward and kind of rip off the band aid, have a very, like, constructi
So, Nick, I so I don't know if you knew in advance that CJ was going to defeat that. Did you? Or
No. No. This is the this is thing. I see some people saying this is some marketing thing to promote limitless or something. That's not how I operate or really anyone in in kind of our orbit operates. It's like we tell the truth. When I think a lot of people in the space are afraid to tell the truth, right? Because if you're a founder and this giant is important, is perceived to be important for tokens, then you don't want to piss them off, right? But in my career, I've always been surprised to the upside of what happens when you actually just tweet the truth. And so I think we need more people
Yeah. Yeah. So before we get into that, because I do want to ask about that, CJ, I just wanted to understand, I asked you about what led you to finally tweet that, and it sort of sounds like you had been noodling on these problems for a long time, and then you kind of had this moment where they sent you the terms and you hadn't signed an NDA, and you were just like, I'm just going to run with this. Is that kind of how that happened? Because you could have signed it and then Sorry. They could have sent it to you in advance and made you sign it before revealing whatever the terms were. And so th
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