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News and updates from the world’s leading cryptocurrency exchange
May 04
2020
Binance Weekly Report: Jump into the (Mining) Pool


In this weekly report (April 27 to May 3, 2020): We launched Binance Pool, hit an all-time-high in daily trading volume, rolled out Binance Widget on Brave browser for desktop, ran a new community coin vote, and more.

1. Binance Pool launches. We introduced our cryptocurrency mining platform that will support both PoW (proof-of-work) and PoS (proof-of-stake) mining. Binance Pool is designed to bridge traditional mining and financial services. As a special introductory offer, Bitcoin miners can enjoy a zero-fee starting rate for the first month. Sign up to redeem this promo

Binance Exchange Updates

2. New all-time-high in trade volume: Binance was able to process $16 billion USD worth of trades within 24 hours, amid Bitcoin’s recent rise past $9,000. (Based on CoinMarketCap data.)

3. Community Coin Vote Round 8: SwftCoin (SWFTC) vs. Chromia (CHR). Voting starts May 6. The number of votes each user receives will be determined by their eight-day average BNB holdings from April 28 to May 6. 

4. Binance Widget rolls out on Brave desktop browser. Brave’s latest desktop browser update (version 1.8) features the Binance Widget, the first exchange-browser integration of its kind. The Binance widget will be available on Brave’s mobile platforms later this year.

5. Buy BTC, BNB on Telegram through Binance Widget on TokenBot. TokenBot users can buy and convert from fiat to cryptocurrency within seconds thanks to the Binance Widget.

6. Binance Savings adds two more tokens to flexible savings. ADA (with an individual max limit of 200,000,000 ADA) and DASH (130,000 DASH limit).

7. Binance Savings products, phase 19: ARPA (30-day maturity with an individual cap of 500,000 ADA and annualized interest rate or AIR of 15%) and ERD (7-day maturity with 10% AIR and 14-day maturity with 12% AIR, both with 5,000,000 ERD limit).

8. Removal of trading pairs (see the list here).

Binance Futures and Options Updates

9. Binance Futures boosts insurance funds. We added $6 million in USDT for the BTC/USDT contract, plus $1.5 million in USDT for the ETH/USDT contract, in order to help better protect our users during times of volatility.

10. Understanding Options Prices. There are four main variables that options traders need to consider, they are the time to expiration, price of the underlying asset, price volatility, and the style of an option.

11. Congratulations to Binance Futures Tournament winners. 

  • First Place: Eureka Trading team (revenue worth 847,176 USDT) wins $60,000 worth of BNB

  • Second Place: MoneyGuru team (revenue worth 432,100 USDT) wins $40,000 worth of BNB

  • Third Place: Top Traders Team (revenue worth 290,457 USDT) wins $20,000 worth of BNB

#UseBNB, Fiat, and Stablecoin Updates

12. Binance P2P supports New Taiwan dollar and Australian dollar. You can now use the two currencies for peer-to-peer trading against BTC, USDT, ETH, BNB, BUSD, and EOS with zero transaction fees. 

13. Binance supports Morrocan dirham via Simplex. You can use the currency to buy BTC, BNB, ETH, BCH, LTC, and XRP via Simplex and save up to 3% on foreign exchange fees per transaction.

14. Binance-BitPay collaboration brings BUSD to all 50 US states. BitPay will allow all of its merchants around the world to accept BUSD as a form of payment online and in its cross-border, business-to-business billing platform without additional integration. 

15. Convert to BUSD, earn up to 8% interest. Binance is giving you a better way to grow your savings by letting you save in BUSD (stablecoin) and acquiring an annualized 8% interest for 90 days.

16. BNB, BUSD integrated in crypto-ATMs in Bratislava, Slovakia. With help from the CryptoDiggers Team, BNB and BUSD holders have more uses for their crypto in Europe.

Binance Ecosystem Updates

17. Binance Charity, Integro Foundation fight COVID-19 in the Caribbean. The two philanthropic foundations committed $1 million USD in cryptocurrencies to provide PPE medical supplies to hospitals and first responders in Puerto Rico and neighboring Caribbean islands.

18. Binance Academy new article: Binance Options Guide for iOS and Android.  This article will guide you through how you can trade options in the Binance app, available for both iOS and Android devices.

20. Binance Podcast new episode: Why Brave Built a Privacy Browser, with Brave Software CEO Brendan Eich. We discuss how the large tech corporations tend to abuse your privacy and profiting from your browsing data, how Brave stands up against this practice, and what's the future of internet browsing.

21. Binance.US introduces cashback on Instant Buy. Get 0.25% cashback on every purchase you make on Instant Buy.

From the Binance Team

22. There Will Never Be 21 Million Bitcoins. As the result of a rounding discrepancy, we are unable to endlessly half the block reward, leaving us with 20,999,999.9796 BTC as the maximum number of Bitcoins that will—or can ever—actually exist.

23. Trust Wallet CEO on The Solana Podcast. Viktor Radchenko hopped on the Solana podcast to discuss the wild ride from building Trust Wallet to achieving 1 million users.

24. CZ addresses DDoS attempts against Binance. Binance CEO Changpeng Zhao (CZ) revealed that our Chinese domains experienced targeted DDoS attacks, and while users reported interruptions, funds remained SAFU. “Based on the attack pattern, it looks like work of our self-perceived competitors,” CZ said.

25. Join the Binance Labs monthly newsletter. Get to know the latest about Binance Labs’ portfolio companies and sector analysis, plus bonus book suggestions from CZ!

Promos and Community

26. ONGOING: Binance Nigeria promo for Telegram. You can win up to $100 in NGN. Promo runs until May 23. (Binance Nigeria also has an ongoing referral program)

27. ONGOING: DATA Trading Competition. Take part in the 3,000,000 Streamr DATAcoin (DATA) giveaway. Promo runs until May 7.

28. DONE: Vietnam P2P promo for bonus BUSD. The promo ran from April 30 to May 1.

29. Binance AMAs and Webinar Series 

  • Binance France Webinar (scheduled for May 6)

  • Binance Peru Webinar (scheduled for May 6)

  • AMAs for Chromia and SWFTCoin across multiple Binance communities

  • Kava AMAs on Binance Filipino and India (April 29 and 30, respectively)

That’s a wrap for last week! Follow us on Twitter, Instagram, Facebook, and YouTube, and join our official Binance Telegram group to talk more with our community.