LBank Questions Binance Launchpool Listing of $DOGS Token, Citing Concerns Over Centralization

The recent listing of the $DOGS token on Binance Launchpool has generated criticism from LBank. In a tweet on Aug. 20, the crypto exchange argued that the move on Binance might make $DOGS more centralized, which goes against the idea of decentralization often linked with meme tokens.

Binance recently included the $DOGS token in its Launchpool, a move that has LBank crying foul.

In a Aug. 20 tweet, the crypto exchange argued that the Binance listing will make $DOGS more centralized, which goes against the grain of the decentralized ethos that is often associated with meme tokens.

We’d like to take this opportunity to ask a few questions to @realDogsHouse:

1. From the launch on Telegram to the listing, LBank was one of the first exchanges to recognize and support the value of the @realDogsHouse project. Isn’t that a good thing?

2. If Dogs only wants to…

LBank also took issue with the exclusivity of the Binance listing, stating, “LBank was one of the first exchanges to recognize and support the value of the @realDogsHouse project. Isn’t that a good thing?”

The exchange is worried that prioritizing Binance will take $DOGS away from its community-driven goal and place it under the control of a single platform, which LBank argues goes against the open and decentralized nature that the project initially set out to achieve.

On the other hand, Binance’s Launchpool will give $DOGS exposure and liquidity, allowing users to stake the token and earn rewards. This development, which was announced earlier today, is being seen as a positive step in increasing the token’s visibility and presence in the market.

LBank also raises concerns about user empowerment and price setting.

“Pre-market trading is a way to empower users, giving them the freedom to define the price of Dogs early on. Shouldn’t users have the freedom to set the price, or should it only be decided by the project team?” LBank noted

The exchange highlights that allowing trading on multiple platforms would provide a fairer way to determine the token’s value.

Finally, LBank takes issue with the claim that only the Binance-listed version of $DOGS is genuine.

You claim that Dogs on #LBank is a counterfeit, so is the Dogs on #Binance the only legitimate one?

The exchange emphasizes that its platform allows users to withdraw and transfer tokens freely, disputing any claims of counterfeit tokens.

However, the criticism from Lbank has received a response from the crypto space as some question whether a crypto exchange needs permission to list a token on its platform

Related: LBank Celebrates 9th Anniversary with USDT Rewards for $DOGS Holders

The above is the detailed content of LBank Questions Binance Launchpool Listing of $DOGS Token, Citing Concerns Over Centralization. For more information, please follow other related articles on the PHP Chinese website!