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Binance Weekly Report: Be a BSC Validator + Join the $1.6M Futures Tournament


In this weekly report (February 27 to March 5, 2021): BNB Smart Chain is looking for more validators and delegators, Binance Futures launches a new $1.6 million promo, and more.


Crypto Market Overview: Volatile Markets This Week

This week, Bitcoin began and ended the week at $47,800, but traded for as low as $43,800 on Monday and as high as $52,400 on Wednesday, signifying volatility in prices over the past seven days. Ethereum traded at around $1,500 to start and close the week, but not without swinging from $1,335 on Sunday to $1,629 on Thursday. Meanwhile, BNB ranged from a low of $200 on Monday to a high of $260 on Tuesday, before settling at $220 to close the week.

After starting at $1.45 trillion, the total crypto market cap fell to $1.29 trillion on Monday, then soared to $1.59 trillion on Wednesday, before settling close to $1.45 trillion once more to end the week

For more crypto-related news and updates, head over to the Binance News service. We now move to updates from the Binance ecosystem and beyond. 


BNB Chain (BSC) Updates

1. A Journey to Decentralization: Validators & Delegators. As a validator or delegator, you become a cornerstone of the infrastructure powering the BSC DeFi ecosystem. Apply to become a validator or delegator now.

2. BscScan aims to become an elected validator on BSC. BscScan announced that it became a validator candidate and invited the community to delegate their BNB to support BscScan. 

3. Announcing the Gnosis safe multisig launch on BSC. The Gnosis Safe is the first project on BSC with a different and more secure approach for managing funds. 

4. The Graph brings indexing and querying to BSC. The Graph is the indexing and query layer of the decentralized web. Developers build and publish open APIs, called subgraphs, that applications can query using GraphQL to retrieve on-chain data.

5. Build user-friendly dApps with BSC in minutes. Learn how to build BSC dApps with the functionalities to send transactions, deploy & interact with smart contracts, and sign messages, with keys secured by a familiar Web 2.0 style passwordless login!

6. More updates from the BSC community. 


Binance Exchange Updates

7. Binance Invests in Multicoin Capital. With this new investment, we affirm our conviction in Multicoin’s process and expertise as fund managers and one of the leading investment firms in crypto. 

8. Binance Liquid Swap Adds BNB. Lock your asset in selected pools to earn BNB yield farming rewards! Now you can earn triple rewards including interest, trading fee rebate, and yield farming rewards with one single action.


10. Binance Spot trading system upgrade on March 6. We are performing a scheduled system upgrade that is estimated to take approximately 1 hour.

11. Snapshot schedule update to the Symbol (XYM) airdrop program. XEM deposits and withdrawals will be suspended starting from March 11, 11:00 PM (UTC).

12. Due to the recent increase in ETH mining transaction fee rewards and to protect the income of ETH miners, Binance Pool upgrades its ETH mining income settlement model to PPS+ on March 5.

13. Binance Loans adds 180-day loan term. Binance Loans now supports 7 days, 14 days, 30 days, 90 days, and 180 days loan periods with no early repayment interest penalty.

14. Earn up to 30% APY on BTC, COS, DUSK, EGLD, PHA, and RIF with Binance Savings.

15. Binance Pool launches the 32nd phase of dual savings products for BTC, USDT, and BUSD.

16. Binance completes Fantom (FTM) mainnet token wallet integration. In addition to supporting FTM mainnet token deposits and withdrawals, Binance will also continue to support deposits and withdrawals of ERC20 and BEP2 FTM tokens.

17. Binance Staking launches OGN Staking with Up to 47.79% APY

18. Binance supports the Cardano (ADA), Filecoin (FIL) & Kava (KAVA) network upgrades. See individual announcements for details on trading and withdrawal/deposit restrictions. 

19. Updates to decimal places of TRY trading pairs. We’re changing the decimals for BNB/TRY, AVAX/TRY, BUSD/TRY, ETH/TRY, DOT/TRY, LINK/TRY trading pairs.  


Binance Futures Updates

20. Binance Futures Spring Tournament - Over $1,600,000 in BNB to Be Won!

Welcome to the Year of the Ox! To usher in the Lunar New Year, Binance Futures hosts a Spring Tournament from March 2nd to April 1st. A total prize pool of over 1,600,000 USD in BNB tokens to be won! Visit the tournament website.

21. Auto deleveraging (ADL) guarantee on BTC, ETH, and BNB USDⓈ-M Futures contracts. Read about our no auto deleveraging (ADL) incidents guarantee for BTC, ETH, and BNB USDⓈ-M Futures Contracts.

22. Binance has enabled Cross Margin and Isolated Margin trading for the following assets and trading pairs:

23. UPDATED: SXPDOWN Binance Leveraged Token, Maintenance margin of Binance Futures Coin-Margined contracts 

24. We completed the Binance USDⓈ-M Futures system upgrade on March 3.

25. API functionality is now enabled for Binance Vanilla Options and supports transfers of assets, setting/canceling trading orders via API. Users can enable and manage their Vanilla Options API functionality in User Dashboard → API Management.

From the Binance Team

26. Binance Lite vs Professional: Which Mode Is Right For You? With Binance Lite rolling out to more countries and regions worldwide, Binance app users can now switch between Lite and Professional modes with a single tap. Which mode is right for you?

27. Advantages and Opportunities with Binance P2P. Binance P2P helps you establish a competitive peer-to-peer cryptocurrency trading business. Get to know more about the platform’s advantages, as well as the opportunities that emerge when you use the platform.

28. Latest articles from Binance Academy

29. Latest reports from Binance Research

Promos and Community

30. NEW: SAND Trading Competition - $50,000 in SAND and Limited-Edition NFTs to Be Won!

31. EXTENDED: Zero Fees Promo on Bank Deposits for EUR and GBP. Now, users may continue to enjoy zero-fee bank deposits until March 31.

32. EXTENDED: Zero-Fee Promo for BUSD/USDT, USDC/BUSD, TUSD/BUSD, and PAX/BUSD, now until June 10.


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