By Dan Kim — Vice President, Ecosystem and Listings
Tl;dr: Coinbase reviews thousands of crypto tokens; around 90% never get considered for listing as they do not meet our strict requirements for protection against scams like “pump-and-dumps” and “rug pulls.”
Our proprietary threat detection software has identified and blocked over 700 tokens with malicious software that can harm Coinbase users.
We also conduct in-depth research on project teams to ensure they don’t have a record of engaging in questionable business practices.
In order to get the next 100 million people into web3, we need to make it easy to buy, sell, and hold the safest and most reputable catalog of digital assets, and further solidify Coinbase as the most trusted bridge to the cryptoeconomy. We also need to make sure users are protected.
That’s why our goal at Coinbase is to list every asset that meets our industry-leading standards for risk, safety, and user protection: If an asset doesn’t meet those standards, we don’t list it.
We only announce the assets we have decided to list — not the ones that fail to meet our standards. But we’ve heard from many of you that you’d like to learn more about how we decide which assets are added to our roadmap.
How Coinbase reviews digital assets
We review assets based on applications submitted by project teams on Coinbase Asset Hub, as well as the thousands of other projects we track across the global web3 ecosystem.
The order in which we sequence asset reviews is not based on whether we think a project is popular or interesting. Our framework is much more objective and nuanced, and includes factors such as the legitimacy of a project’s white paper, integrity of their contributors, details of how their token works, and engagement levels of their user and developer communities. We only consider listing those assets that meet our rigorous guidelines for legality, safety, reputability, and technical integrability.
We do not list the majority of the tokens that we review. In fact, out of every 100 tokens we consider, only around 10 are identified as potential candidates for Coinbase Exchange, and fewer than that actually get approved for listing.
Today we’re sharing more details about the industry-leading tools, systems and methods we use to protect our users from dangerous digital assets.
How our threat detection software keeps users safe
Blockchain technology is constantly evolving, so any asset review system must be able to adapt…
Click Here to Read the Full Original Article at The Coinbase Blog – Medium…
