The founder of Tron, Justin Sun, has proposed some new ideas for the Chinese crypto exchange Huobi Global, which is based in Hong Kong. In a tweet, Sun suggested the exchange should take a different approach to listing projects. Two recommendations were given by Sun in his tweet.
The policy has been narrowed to two reforms that are likely to be implemented within the next few weeks, according to the announcement posted on Twitter.
Initially, Sun suggested that the exchange should be able to list projects without jeopardizing neutrality.
All projects should undergo the same listing process. Justin believes Huobi should not make assumptions about a project’s future before making a listing decision.
“The first principle of Huobi’s listing is to abide by neutrality and not make value judgments on projects because we pursue values of humility. Exchanges are not suitable and should not make judgments on the future of projects…The second is community first, and it is a good thing for the community to have discussions. Everything is left to the judgement of the market. In the end, it respects the user’s decision, and the exchange is, at best, a night watchman.”
A tweet by Sun suggested that the exchange consider the project’s community before making a decision about whether to list its native token.
Even though the platform is a centralized exchange (CEX), following communities around crypto projects will somehow promote decentralization in the crypto world.
According to Sun, Huobi is a “night watchman” who ensures the safety of customer deposits and prevents the listing of fraudulent projects.
As a result of Huobi’s listing policy, the entire cryptosphere has taken notice. According to project developers on Twitter, the exchange refuses to list real utility projects.
Despite being denied online listing, some of these projects have active communities behind them. Especially when centralization is in charge, decentralization has a hard time growing.
Justin’s argument might eventually lead to the review of the token listing policies that lock utility projects from potential enterprising investors on the platform as a result of their token listing. Sun’s announcement comes just a few weeks after it took control of the exchange, which is a significant development.
Former CEO Zhu Hua and other senior executives stepped down, allowing the cryptocurrency enthusiast took charge. There is still uncertainty about the proposals. Sun’s arguments, however, have enough backing to create the necessary changes to see the new direction take shape.
