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Binance Lists StaFi Protocol (FIS)
Until recently, those looking to trade Stafi’s native token, FIS had to go through decentralized platforms and a few CEXs. Of course, this hasn’t helped with the governance of StaFi, a decentralized liquidity unlocking protocol. Fortunately, that has changed as Binance just listed the FIS on its platform and we know how that works out for the popularity of Stafi.
Why Binance FIS Listing Is Essential
Much of the excitement regarding the listing of FIS on Binance isn’t misplaced. This might help spread the word on the capabilities of Stafi and how DeFi start-ups can gain from it.
Frankly, most DeFi platforms that use the staking consensus approach aren’t aware of the opportunity to unlock the liquidity trapped within, so Stafi protocol is bound to be a big help in doing just that.
Is Listing FIS in the Innovation Zone a bad thing?
The choice to list FIS on Binance is a huge feat, and it’s unlikely to be diluted by restricting Stafi’s native token to the Innovation Zone. Of course, the Innovation Zone on Binance is like the first point of call for all new listings, so it’s no surprise that FIS makes an appearance there.
Binance claims the choice to place FIS in the innovation zone is to protect traders as tokens listed there are subject to high volatility.
Considering the role placed by market forces in the price volatility of these tokens, the Innovation Zone is mostly a welcome party for new signings, not a protective measure for traders. It’s not like CEXs like Binance have ever cared about traders that much.
Does FIS pose a trading risk?
Of course, the main purpose of the FIS wasn’t for the tokens to be traded as it’s the native token of the Stafi protocol. The FIS is meant to help achieve some semblance of governance within the decentralized protocol as well as serve as a medium for paying fees.
Whether the FIS poses a trading risk isn’t dependent on the token. One’s capacity to trade and read the market will decide if one can handle the risk that comes with trading any cryptocurrency, not where the token is traded. The risk supposedly attributed to trading the FIS can’t be ascribed to the Stafi native token in isolation considering the topsy-turvy nature of the trading scene.
How has this listing news affected the Stafi ecosystem?
Binance might get a lot of stick for different reasons, but the popularity of the CEX can’t be denied. There are few exchange platforms with the sort of clout that Binance enjoys, so whenever new projects get listed on the CEX, you can expect some excitement about that project.
Having Binance list Stafi’s native token, FIS puts it in the spotlight as most people — who are relatively unaware of our journey so far — can get the facts and learn what we do. Surely projects that need our services will take note as well, resulting in greater adoption of the Stafi protocol for these projects.
Did Stafi Pay To Get the FIS Listed?
No, there wasn’t any payment made for listing the FIS on Binance. We aren’t motivated to spend money on FIS listing, regardless of the exchange involved. At the moment, Stafi is focused on building its Defi protocol towards delivering on the expectations of users.
While we are open to new listings like this one — the publicity does help the Stafi protocol — that’s not our priority at the moment.
Yet, we are pleased with this listing on a platform like Binance as it puts our services out there, no matter what anyone thinks about it.
You can follow up to date information on StaFi by following their website https://m.stafi.io/
