Binance Review, Month 26: Futuristic
On Binance’s Month 26 (August 15 to September 15, 2019), we’ve launched the next products that Binance
The Big Story: The Binance Universe Expands with Futures, Lending, X, and JEX
This past month, the Binance ecosystem expanded with four new divisions, all of which will chart the course of Binance’s future. It just so happens that they mostly deal with futures, which is a crucial area for growth for Binance as we aim to be a holistic blockchain ecosystem.
Binance Futures is now live, after much anticipation, which followed a testnet release. get a 50% discount on trading fees for 3 months, starting September 13! Learn how to use Binance Futures through this guide. And we’re happy to report that we started out strong, with the fifth-highest BTC futures volumes for global futures exchanges during the launch.
Binance Futures is just one step we’re taking towards our goal of servicing our users’ futures trading needs. We bought JEX, a crypto-asset trading platform offering spot and derivatives trading services, and rebranded it to Binance JEX. We are also launching a lot of promos for the Binance JEX launch, so try the platform now.
Meanwhile, a few months after the launch of Binance Margin, we have also launched Binance Lending, a new series of products through which you can use your crypto for lending and then earn some interest from it. This will be a reliable source of liquidity for Binance Margin trading, so the interest is guaranteed. Watch out for our series of lending products, which we launch every week.
Beyond trading platforms, we also intend to build a strong developer backbone for the Binance ecosystem. That’s why we launched Binance X, a new initiative to foster innovation on the Binance platform and the blockchain ecosystem at large. Join us in one of the Binance X events. Apply for Binance X Fellowship here.
Amid all these new developments, we want to involve the community in the growth. With the relaunched Binance Referral Program, you can earn up to 40% commission from your referral’s trading fees. And this time, you can share some of your rewards with your friends. Join the Binance Referral Program here!
Also, do you carry a huge voice within your community? Join the new Binance Affiliate Program for crypto influencers, organizations, and communities. Sign up here to join.
A lot more things have happened on Binance for the past month. Read about these below.
Exchange Updates
* New listings: Cocos-BCX (COCOS), TomoChain (TOMO), Perlin (PERL), Chiliz (CHZ),
* New trading pairs: COCOS/BNB, COCOS/BTC, COCOS/USDT, NPXS/USDT, NPXS/USDC, MTL/USDT, TOMO/BNB, TOMO/BTC, TOMO/USDT, TOMO/USDC, PERL/BNB, PERL/BTC, PERL/USDT, PERL/USDC, DENT/USDT, MFT/USDT, KEY/USDT, STORM/USDT, DOCK/USDT, WAN/USDT, FUN/USDT, CVC/USDT, BTT/TRX, WIN/TRX, CHZ/BNB, CHZ/BTC, CHZ/USDT
* Total cryptocurrencies listed (as of September 15): 170 (+4 from last month)
* Total trading pairs listed: 574 (+27 from last month)
* New Margin Trading assets: BCHABC, XLM, USDC, LTC, ETC, NEO, XMR
* New margin pairs: BCHABC/BTC, BCHABC/USDT, XLM/BTC, XLM/USDT, BTC/USDC, LTC/USDT, LTC/BTC, ETC/USDT, ETC/BTC, NEO/BTC, NEO/USDT, XMR/BTC, XMR/USDT
* Lending products launched in the following tokens: BNB, USDT, ETC, XRP, LTC, USDC, BTC, ETH, DASH, XMR, ZEC
Exchange Tech Updates
* Adjusted trading fee discount program. Lower thresholds for VIP1, increase in the number of VIP tiers from 9 to 10, and more!
* Margin trading now available on Binance’s Windows PC Client.
* Adjusted daily interest rate for borrowing ETC.
* Customized order book view. When you click “more” on any trading pair’s order book, you can choose your preferred decimal grouping and order depth on display.
* 10x faster WebSocket order book API. Binance WebSocket API has now been upgraded from 1000ms to 100ms to support faster order book data.
* Optimized navigation and home page.
* New webpage for Binance VIPs. Learn more about the benefits that come with being a Binance VIP.
BNB/DEX/Blockchain Updates
BNB
* New #UseBNB roundup. Now at 163+ use cases, 3x more than 55+ from six months ago. See below.
* BNB quarterly burn rule update: Binance will include all future businesses and products (including Binance Futures) into the scope of each quarterly BNB burn
* BNB now supported on Samsung Galaxy S10. The mobile phone’s crypto wallet now allows you to store and use BNB. Meanwhile, you can now buy BNB with Vietnamese dong (VND) on Coinhako.
* Bitmart lists BNB. “BNB is structured and promoted as a Utility Token... Listing BNB is in compliance with local rules and regulations,” according to Bitmart.
* Bithumb Global supports BNB Chain.
* New listed cryptocurrencies: Rupiah Token (IDRTB), GoWithMi (GMAT), Morpheus Labs (MITX), BOOSTO (BST2), BET Token (BET), Tixl Token(MTXLT), Vodi X Token (VDX), Ferrum Network Token (FRM)
* BNB Chain completes testnet upgrade. The Archimedes upgrade included BEP3, which introduces support for atomic swaps between BNB Chain and other blockchains with smart-contract support.
* For more details about the latest improvements from BNB Chain, read their latest Monthly Update.
Binance Ecosystem
Binance Launchpad completed the sale of Perlin (PERL) and Band Protocol (BAND) tokens. The percentage of winning tickets for the Perlin sale is at 5.46%, while more than 45% of the 35,579 token sale participants won in the lottery.
Binance.US, our fiat-to-crypto partner in the US, announced that it will start account registration and deposits on Sept. 18.
Binance Charity is now helping 100 schools! The charity arm of Binance has already aided 80,000 students with lunch, stationary, solar panels, sanitary pads, and more. Support Binance Charity’s projects here.
Binance Charity also launched Binance for Hurricane Relief to help those affected by Hurricane Dorian, which has claimed dozens of lives and damaged billions in property. Donate here.
Binance Labs backs FIO Protocol. Binance Labs has led a $5.7 million in Series A funding for Dapix Inc., the company behind FIO Protocol, an industry-standard, decentralized service layer that improves usability across every blockchain, token or coin.
Binance Academy released the following new articles: Device Fingerprinting: How Exposed Are You, Trend Lines Explained, How to Use a YubiKey on Binance [NEW VIDEO HERE], and What are Smart Contracts?, and What Is Mimblewimble?
Binance Research has released the following new reports: The World of Tokenization, First Look: China's Central Bank Digital Currency, Global Markets - August Overview, and detailed reports on cryptocurrencies COCOS-BCX, TomoChain, and Band Protocol.
Binance Podcast launched the following new episodes: Global Ledger Initiative with Binance Charity Director Jill Ni and Perlin CEO Dorjee Sun, and China’s role in crypto with Dovey Wan
Binance invests in Mars Finance. We joined a funding round for crypto data website Mars Finance, which is now valued at about $200 million. This is Binance’s first strategic investment in China.
Binance Community
Online Activities
* Airdrops for two cryptocurrencies: Edgeware and JEX Token! ETH holders on Binance got new tokens from Edgeware’s token distribution. Read about it here. Meanwhile, after Binance’s recent purchase of JEX, we distributed JEX tokens to BNB holders. Here are the mechanics.
* BNB treasure hunt on Binance Twitter.
* Binance Jersey’s deposit and trading competition is giving away a total of 65,000 EUR in prizes: 22,500 EUR will be given away for the deposit contest and 42,500 EUR for the trading competition. Join now! Also, join the t-shirt giveaway promo!
* Battle for the Crown: Futures Social Media Contest.
* Win a BMW in the WIN and BTT trading competition. Promo ran until September 12.
* Band Protocol-related promos: #BandLottery promo on Twitter plus AMAs on different Binance Telegram communities: Russian (with prize pool of $1,500 in BAND tokens), Indian ($1,000), Filipino, Indonesian, Turkish, Spanish, Vietnamese ($600 each), and Ukrainian ($500).
* Perlin-related promos: #PerlinLottery promos on Twitter plus AMAs on the following communities: Korean (with prize pool of $500 in PERL tokens), Filipino ($500), German ($300), and Italian ($300),
* ONT Airdrop on Margin Accounts. Prize pool of 80,000 ONT for trading ONT on Binance Margin and 20,000 ONT for opening a margin account.
* Swag giveaway on the following communities on Facebook: Indian, Italian, Turkish, Filipino, German.
Global Activities
August 22: Monterrey, Mexico
August 23: Berlin, Germany (Binance Dev Meetup)
August 26, 2019: Manila, Philippines
August 29, 2019: Mexico City, Mexico
August 31, 2019: Sochi, Russia
August 31, 2019: Chengdu, China
September 1, 2019: Istanbul, Turkey
September 6: Cape Town, South Africa
* September 7: Changsha, China
September 10: London, UK (Binance X meetup)
September 12: Panama City, Panama
September 14: Jakarta, Indonesia (Super Meetup)
September 15: Tel Aviv, Israel (Binance X meetup)
Thought Leadership
Binance CEO CZ (Changpeng Zhao) discussed various topics during this recent AMA session, including crypto staking, the new referral program, Venus, futures, Binance X, Binance Lending, and more! View the full AMA here.
Binance Co-Founder and Chief Marketing Officer He Yi was In an extensive interview on Bloomberg, He Yi provided more details about Venus, Binance’s open blockchain project for stablecoins and digital assets around the world.
During the Invest: Asia conference in Singapore, Binance CFO Wei Zhou said, “We hope to launch more compliant stablecoins backed by fiat reserves in the future, introducing more stability to the cryptocurrency world.”
We released a new statement on the issue of a false “KYC leak” and outlined the next steps we’ll take to further secure user information
Please follow us on Instagram, Twitter, and Facebook to stay up-to-date with our latest announcements. Join our official Binance Telegram group to participate in discussions with our users, staff, and volunteers.
Cryptocurrency investment is subject to high market risk. Binance is not responsible for any of your trading losses. The opinions and statements made above should not be considered financial advice.