LBank's Scorching Criticism of DOGS on Binance Launchpool

Bittime - The recent listing of the $DOGS token on Binance Launchpool has sparked criticism from LBank. This was conveyed by LBank via their official X/Twitter account. Why are DOGS subject to criticism? Let's discuss it in this article.

In a tweet on August 20, the crypto exchange argued that Binance's move might make $DOGS more centralized. This, according to LBank, goes against the idea of ​​decentralization that is often associated with meme tokens.

LBank Questions Binance Exclusivity

Source: LBank/X

LBank also questioned the exclusivity of Binance's listing. They stated, “LBank was one of the first exchanges to recognize and support the value of the @realDogsHouse project. Isn't that a good thing?”

Also read: DOGS Token Claim Schedule Update, Claims Postponed? This is the Detailed Information

The exchange is concerned that prioritizing Binance might shift the focus of $DOGS. This relates to its community-based goals and changes to being controlled by a single platform. According to LBank, this goes against the open and decentralized nature that the project was originally aiming for.

On the other hand, Binance Launchpool provides $DOGS with exposure and liquidity. Allows users to stake those tokens and earn rewards. 

This development, announced today, is considered a positive step towards increasing the token's visibility and presence in the market.

LBank Criticizes Pricing

LBank also raised concerns about user empowerment and pricing. 

“Pre-market trading is a way to empower users, giving them the freedom to price Dogs from the start. Shouldn't users have the freedom to set prices, or should it only be decided by the project team?” LBank took note.

The exchange stressed that allowing trading on multiple platforms could provide a fairer way to determine the value of the token.

Additionally, LBank questioned the claim that only the version of $DOGS listed on Binance is genuine.

“You claim that Dogs on #LBank are fake, so are Dogs on #Binance the only ones legit?”

The exchange stressed that its platform allows users to withdraw and transfer tokens freely, denying accusations of fake tokens.

However, Lbank's criticism has received a response from the crypto space. Because, some people question whether crypto exchanges need permission to list tokens on their platforms.

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