Binance bans GPS, SHELL market maker, set to refund users

Binance prohibited a market related to Goplus Security and Myshell after detecting commercial irregularities.

According to a March 9 announcement On the official Binance blog, the exchange ended the entity of marketing activities and confiscated its product to compensate for affected users. The details of the remuneration plan will be announced later by the respective projects.

Market manufacturers are companies or people who are constantly going from purchase and sales orders to ensure smooth trading and volatility of lower prices. However, marketing practices contrary to ethics, such as manipulation of order notebooks, can distort prices or offer unfair advantages to market manufacturers.

The market manufacturer in question has proven to have violated the rules of Binance, which include maintaining a fair control book with balanced purchase and sale orders, ensure adequate liquidity and warn disruptive Commercial behavior. To protect the interests of users and market integrity, Binance arrested the entity.

After the announcement, the uncertainty of investors reduced GPS by more than 14%, while Shell has since recovered after the drop of 4%. Binance has reaffirmed its commitment to apply strict membership to commercial standards by all market players and to take the appropriate measures against those who do not comply.

This action is part of Binance’s largest initiative to improve responsibility and transparency. Users can now vote on chip lists and crimes, thanks to a new governance model that exchange presented March 7. Binance users holding at least 0.01 BNB will be able to influence the projects listed or deleted.

Binance has also added several registration features, including trading before the market against certain tokens, direct points lists and launching agriculture incentives. Depending on the exchange, it does not impose the costs of rating and enables users to know when projects allocate the marketing budgets of their ad. These funds will then be returned to users in the form of airlines.

Regarding the current state of the cryptocurrency sector, Changpeng Zhao, the founder of Binance, noted on March 10. job On X, too much money pursues short -term gains rather than helping ethical teams aimed at long -term growth. He underlined the need for patience and strategic investment for long-term success in the cryptocurrency industry.