Not a Fee, But ‘Long-Term Payment’ — How Crypto Exchanges List Tokens

Listing fees or no listing fees?

As reported by Cointelegraph on Oct. 28, Blockstack’s SEC filing shows Binance receiving the sum of $250,000 tagged as a “long-term payment” to keep STX listed on the exchange for a year. Blockstack will also make three similar payments of 833,333 STX (currently worth $250,000) to cover for an additional three-year listing period plus an additional $100,000 marketing fee.

What some cryptocurrency exchanges say

Binance updated its listing fee in October 2018, promising to ensure transparency in its altcoin listing process. At the time, the exchange giant announced that it will be donating all listing fees to charity via its nonprofit Binance Charity Foundation. Given Binance’s explanation that the $250,000 payment received from Blockstack isn’t a listing fee, it seems highly unlikely that the exchange will donate that sum to charity. Binance also has a marketing fee, which was explained by the spokesperson:

Should listing fees be a controversial issue?

Some critics rail against the existence and magnitude of listing fees charged by cryptocurrency exchanges. Ethereum co-founder Vitalik Buterin famously protested the activities of centralized platforms, remarking that he hoped they would “burn in hell.”

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