How Binance's "Featured Projects" Became a Bulletproof Vest for Scam Projects?
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How Binance's "Featured Projects" Became a Bulletproof Vest for Scam Projects?
The most frequent keyword in the community is "scam," and the most common demand is "CZ and Binance should immediately delist this scam project."
Navigating Web3 tides with focused insightsAuthor: Icefrog
Perhaps the distance between us and evil is nothing more than a "Binance Selection"—this time, the uprising and outrage from the Redstone project community have answered everything.
If a project team only needs to pay enough listing fees, can they then purchase a legitimate right from Binance to rob the community, stripping away countless hours of effort in an instant?
Last night, RedStone opened its airdrop claim—but within less than ten minutes, the community exploded. Waves of condemnation surged across both Chinese and English communities alike.
The most frequently used word in the community? “Scam.” The most common demand? “CZ and Binance must immediately delist this scam project.”
What exactly did Redstone do to provoke such fury? It comes down to three key issues:
1. Rule fraud. Throughout years of project development, many users completed hundreds of tasks—including special holiday events—constantly encouraged with promises that completing tasks would earn points toward future airdrops. Yet, in the final airdrop rules, a sudden “special role” requirement emerged as a qualification criterion, despite zero prior mention or indication.
2. Excessive insider allocation. According to community analysis, over 98% of long-term participants appear to be excluded from the airdrop—even those who participated consistently in every single task and activity.
3. Drastic reduction in promised allocations. The project initially claimed 10% of tokens would go to the community; current estimates suggest less than 2%. Incomplete data shows only around 4,000 addresses received the airdrop.
If project teams are willing to stand against their own communities and bow to capital, no amount of community backlash will awaken a project lacking integrity and ethics.
We must ask: why did all this happen only after Redstone was listed on Binance? Is “Binance Selection” truly a filter for high-reputation, valuable, and traffic-rich projects—or has it become a funnel granting immunity to scam projects upon payment of protection money?
If every minute retail users spent grinding tasks merely becomes stepping stones for project teams to celebrate on Binance’s podium, are these Redstone-excluded community members nothing more than traffic metrics and fee fuel in Binance’s eyes???
If “Binance Selection” becomes the final sanctuary for malicious actors, could your listing criteria actually be profit-sharing terms behind closed doors???
When project teams act openly and shamelessly while Binance remains passive, we have no choice but to question everything from the most cynical perspective—this is a cry of despair, yet also a plea filled with hope directed at Binance.
Behind each sharp condemnation lies blood, tears, and real losses. Money lost can be earned back; being drained under fair rules, we accept. But we will never tolerate fraud!!!
We deeply hope that when we look back at industry development, we won’t be horrified to find every harvesting scythe stamped with Binance’s seal—nor see every investor’s gravestone engraved with “Binance Selection.”
Binance, as an industry leader capable of changing this reality, must not remain idle, indifferent, or worse—complicit!
I still believe Binance is not the dragon. I still believe Binance remains that dragon-slaying youth!
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