The Monitoring Tag is a tag used on the Binance platform to classify cryptocurrency projects that are relatively more established when compared to Seed Tag projects, which are in their initial stages of development.Â
Usually, Monitoring Tags are given to projects that have a working product and a certain degree of user adoption. Still, they also come with their own risks, including potential legal and regulatory issues, technological challenges, market volatility, and so on.
Binance uses these tags to help users make more informed decisions when dealing with cryptocurrencies, especially the ones that were recently created or listed. However, itâs important that users do their own research and due diligence to reduce potential risks.
To promote a transparent and sustainable crypto ecosystem, Binance conducts periodic project reviews to define which projects should receive these tags. Some of the criteria considered during such reviews include:
Project team commitment
Level and quality of development activity
Trading volume and liquidity
Stability and safety of network from attacks
Network/smart contract stability
Level of public communication
Responsiveness to our periodic due diligence requests
Evidence of unethical/fraudulent conduct or negligence
Contribution to a healthy and sustainable crypto ecosystem.