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Binance Weekly Report: Smart Chains and Record Burns


In this weekly report (April 13 to 19, 2020): The 11th token burn of BNB set record highs in BNB and fiat value, while the Binance Chain community introduced Binance Smart Chain to the world. 

1. Introducing the Binance Smart Chain. The Binance Chain development community has proposed the creation of a parallel blockchain to the current Binance Chain that will support an intuitive version of Smart Contract functionality. Read the official whitepaper here, or provide feedback through Github

2. The 11th BNB burn. A total of 3,373,988 BNB, equivalent to 52.5 million USD worth of tokens, was burned. This is the biggest BNB burn ever recorded, in terms of both BNB and fiat volume. Read the statement of Binance CEO CZ (Changpeng Zhao) about the burn in this blog

Binance Futures Updates

3. Learn more about Binance Options. In this new article from the Binance Futures team, we guide you on the advantages and details related to the crypto options product we recently launched.

4. Binance Futures Review, Month 7. We’ve made it to the top in our 7th month. We first achieved this by total volume, then by BTC volume. We are now the largest perpetual futures exchange and the largest BTC futures venue.” - Binance Futures VP Aaron Gong.

Binance Exchange Updates

5. New listing: Rupiah Token (IDRT). We opened trading for BNB/IDRT, BTC/IDRT, USDT/IDRT and BUSD/IDRT on April 17. Rupiah Token (IDRT) is a stablecoin issued by PT Rupiah Token Indonesia that is pegged at a 1:1 ratio to the Indonesian Rupiah.

6. New collateral options for Binance Loans: BCH, LTC, and XRP.

7. Binance Savings adds two more tokens to flexible savings. IOST (with an individual max limit of 4,000,000,000 IOST) and XMR (200,000 XMR limit).

8. Binance Staking supports ARK and TOMO. Hold at least 5 ARK as of April 15 or 5 TOMO as of April 18 to qualify for staking rewards.

9. COMPLETE: Distribution of the second batch of staking rewards for March 2020.

Binance Fiat and Stablecoin Updates

10. P2P for India and Indonesia. The Binance P2P platform launched trading for Indian rupees (INR) and Indonesian rupiah (IDR), allowing people to directly buy and sell BTC, ETH, BNB, USDT, and BUSD through the two currencies.

11. P2P support for Venezuelan bolivar (VES). Binance P2P users in Venezuela can now use their local currency to buy BTC, USDT, ETH, BNB, BUSD, and EOS with zero transaction fees. 

12. WazirX lists BUSD. The Indian crypto exchange backed by Binance also launched BUSD/USDT trading and will roll out BUSD/INR trading soon.

Binance Ecosystem Updates

13. Happy First Anniversary, Binance Chain. We congratulate the Binance Chain community on a productive year that saw Binance DEX rise as the world’s top decentralized cryptocurrency marketplace.

Meanwhile, Binance DEX listed WazirX (WRX) token and added a WRX/BNB trading pair on April 16.

14. Binance Charity reveals the Crypto Against COVID alliance. In the fight against COVID-19, 35 blockchain and tech companies joined Binance Charity in supporting the frontliners combating the pandemic through the Crypto Against COVID campaign.

In addition, the Bad Crypto Podcast and Virtual Blockchain Week 2020 also partnered with Binance Charity for the Crypto Against COVID campaign, which will be the beneficiary of 50% of VIP experience ticket sales from the virtual event.

15. Highlights: Projects supported by Binance X that are making waves.

  • Bitquery launched new products like Bitquery Widgets, an open-source initiative supported by Binance X. Developers use Bitquery GraphQL APIs and widgets to create & visualize complex data scenarios and create new apps

  • CryptoLocally, a peer-to-peer trading platform supported by Binance X, listed BNB as the first digital asset outside of the EOS ecosystem that it supports.

16. Binance Academy released new content: 

17. Latest updates from Binance.US 

Promos and Community

18. ONGOING: $85,000 Waltonchain trading competition. Win up to $20,000 in WTC tokens. Promo runs until April 24.

19. ONGOING: Community AMAs for newest Binance Launchpad project Cartesi. AMAs across 15 communities, with a total of $14,000 in CTSI tokens being given away. 

20. ONGOING: Cartesi gaming tournament. A total of $50,000 in CTSI tokens being given away for top players and earliest adopters of Cartesi’s Creepts game. Promo ends April 21.

21. Webinar Series and other Online AMA Events:

  • Argentina-focused webinar on Binance Spanish (April 18)

  • On Binance Cameroun (April 18)

  • Webounty AMA with Binance Futures VP Aaron Gong (April 17)

22. We’re looking for Binance Angels in Georgia. Sign up here if you’re interested.

From the Binance Team

23. New Vice President for Asia-Pacific. We welcome Lu Mai, former IBM executive and app entrepreneur behind the Haowu app, to the Binance team as our new leader for the Asia-Pacific region.

24. CZ on BlockDown 2020. The Binance CEO was one of the keynote speakers in this virtual event last April 16-17. Here’s a graphic showing a summary of his speech.

25. Binance US CEO at Quarantine Summit. Catherine Coley was one of the panelists for the “Does Coronavirus Change the Crypto Narrative?” discussion at this fintech summit by the New York Treasury

26. Team Binance at Talent-Land’s Blockchain Home event. Gracing the event are Director of European and Latin American Growth Josh Goodbody and Binance Spanish community manager Mariangel Garcia.

27. Fun Corner.  Binance-branded poker set. Want to cop one? Let @Binance on Twitter know

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. Speaking of Instagram...