Cost of a Binance listing: Insights from Blockstack’s SEC filings

Last Wednesday, Binance announced that it would be listing Stacks (STX), Blockstack’s native utility token. Similar to other listings in the recent past, Binance noted within its press release that the listing fee for STX was 0 BNB, suggesting that Blockstack paid Binance nothing in exchange for getting listed on the exchange. Generally, this would be the full extent of the information publicly provided about Binance's listing agreements. Fortunately, we have Blockstack's SEC filings to give us additional insights. 

Within Blockstack’s SEC filing, the company notes that it paid Binance 833,333 Stacks Tokens upfront and intends to pay Binance 833,333 additional Stacks tokens annually for up to three years “in consideration for the Stacks Token’s ongoing and future listing.” Assuming the value of each token to be $0.30 (equal to the Reg A+ general sale price), this would equate to an upfront payment of $250,000 plus an additional payment of $250,000 annually. Blockstack further noted in the filing that it would pay Binance $100,000 for marketing services.