Binance Web3 Wallet Levels Up: Inscriptions Marketplace, ERC-404 Support & More
Main Takeaways
Updates to the Web3 Wallet include the launch of an Inscriptions Marketplace, support for ERC-404 tokens, plus UI/UX improvements for greater ease of use.
We’ve also expanded the Web3 Wallet ecosystem by integrating 24 new dApps and five new networks in support of a dynamic and rich ecosystem.
Any users who still have a semi-custody wallet can now upgrade to a full self-custody wallet for increased autonomy and security.
Take part in our exclusive Inscriptions Marketplace Airdrop from February 22 to April 3, 2024, for a chance to share in over $1M worth of rewards.
Note: This is a general announcement. Certain products and services may not be available in your region.
In our continuous effort to enhance your experience with the Binance Web3 Wallet, we’re thrilled to bring you an array of updates and new features designed to make your journey through the decentralized web even more enjoyable.
From the launch of the Binance Inscriptions Marketplace and support for ERC-404 tokens, to the integration of new decentralized applications (dApps) and networks, we’ve been busy ensuring that our Web3 Wallet is always evolving to meet your needs.
Let’s dive into the latest developments before revealing how you can participate in our exciting Inscriptions Marketplace Airdrop for a chance to share in over $1M of rewards!
ERC-404 Tokens Now Supported
Binance Web3 Wallet now supports ERC-404 tokens, which blend the ERC-20 and ERC-721 standards to enable fractionalized NFT collections, thereby removing the need for intermediaries. The success of Pandora, the first ERC-404 token, underscores the market’s interest in innovative tokenization.
This addition boosts the Binance Web3 Wallet’s utility and opens new avenues for managing digital assets, yet again showcasing our commitment to integrating cutting-edge blockchain technologies for a richer decentralized web experience.
New Web3 Wallet Network Integrations
Recent Web3 Wallet updates include the addition of new networks, including:
Manta — a modular ecosystem for Web3
ZetaChain — a Layer 1 that has chain-agnostic interoperability built-in
ZKFair — a ZK-powered Layer 2
Metis — an Ethereum Layer-2 scaling solution
Scroll — another Layer-2 solution for Ethereum, based on zkEVM technology.
These additions further enrich the Web3 Wallet’s ecosystem, providing more choices for users. By adopting diverse networks, this expansion boosts functionality and demonstrates Binance’s dedication to a versatile and inclusive Web3 environment.
New Web3 Wallet dApps Integration
In February 2024, we expanded the Binance Web3 Wallet ecosystem by integrating 24 new decentralized applications (dApps). Users can easily explore these dApps by navigating to [Wallets] > [Web3] > [Discover] > [Trending DApps] in the Binance App.
The newly added dApps include:
This integration not only broadens the scope of services available to Web3 Wallet users but also strengthens our support of a dynamic and rich ecosystem.
Upgrade to Self-Custody Wallet
A significant enhancement has been introduced for early adopters of the Web3 Wallet: the option to elevate from semi-custody to full self-custody wallets. This change underscores our belief in user autonomy and commitment to security, aligning with the foundational values of blockchain technology. Upgrading is simple and easy:
Initiate Upgrade: Go to your Web3 Wallet and tap [Upgrade Wallet].
Backup Method: Opt for cloud service or QR code for key-share backup.
Set Recovery Password: Create a password for key-share encryption. Note: losing this password means losing wallet access, as Binance cannot retrieve it.
Backup and Complete: Follow instructions to back up your key-share and complete the upgrade.
This update is all about giving users the tools they need to manage their digital assets securely and independently. Please refer to our dedicated guide to upgrading for more.
Binance Inscriptions Marketplace
We’re excited to have launched our Inscriptions Marketplace within the Web3 Wallet, enabling the minting and trading of inscriptions, including BRC-20 and EVM tokens.
The Inscriptions Marketplace provides a seamless experience for engaging with over 60,000 BRC-20 tokens (and others via dApps), catering to both experts and newcomers in Web3. Features like easy one-click transfers between the exchange and wallet highlight our dedication to improving access to the decentralized web.
To start, log into the Binance App, select [Web3] under the [Wallets] tab, and click [Discover]. Please see our dedicated Binance Inscriptions Marketplace blog for more.
Inscriptions Accelerator
Another new feature within the Web3 Wallet is access to an Inscriptions Accelerator, powered by our BTC Transaction Accelerator, which reduces transaction waiting times, including those related to BRC-20 tokens. By paying a fee, users can expedite their transactions, thereby gaining an edge in the dynamic crypto market.
This feature is invaluable during network congestion or when low transaction fees delay confirmations. Prioritizing transactions with miners, the Inscriptions Accelerator speeds up processing times, improving trading efficiency thanks to reduced wait times and greater transaction dependability.
Inscriptions UI/UX Improvements
We’ve also introduced several UI/UX improvements to the Inscriptions Marketplace over the last few months, making navigation and asset management smoother and more intuitive for users. Here’s a quick overview of the latest enhancements:
Favorites Feature: Easily mark your preferred tokens as favorites with a new star button, allowing for quicker access.
Token Details: Get more information on tokens with a simple swipe to the right, providing a deeper insight into your investments.
Streamlined Access: Find what you’re looking for faster with a simplified entry point under the Markets section, enhancing user navigation.
Transaction History: View your complete transaction history with just one click, located at the top right corner of your wallet, for easy monitoring of your activities.
Enhanced Search Functionality: The introduction of a search bar for token lookup improves the efficiency of finding and managing your assets.
These enhancements are part of our ongoing efforts to deliver a user-friendly Web3 Wallet experience, allowing you to manage your digital assets with ease.
Join the Inscriptions Marketplace Airdrop: $1M of Rewards!
We’re excited to launch an exclusive airdrop for Inscriptions Marketplace users! From February 22 to April 3, 2024, take part to share in over $1,000,000 worth of rewards.
This campaign is a token of appreciation for our community’s support, offering everyone a chance to win big. Thanks to our BRC-20 partners — including RATS, AINN, BDIN, MMSS, BIDP, BRC20.com, ORNJ, NEWU, MUBI, INDS, DEPD, ROUP and ITNP — a vast range of token rewards are up for grabs.
How to Participate in Four Easy Steps
1. Verify Your Account: Ensure you’re registered and verified on Binance.
2. Set Up Web3 Wallet: Your gateway to join the airdrop.
3. Opt-In: Click [Join Now] on the activity page. One-time opt-in required.
4. Qualify Through Trading: Complete at least one trade (buy/sell) on a featured token during the airdrop weeks.
How Airdrop Winners are Chosen
Each week, participants who meet the trading criteria will be ranked based on how the numbers in their BUIDs sequentially align with the BNB Beacon Chain’s block hash value at the onset of that Airdrop Week.
The top ranks, showcasing the most sequence matches, will be crowned the winners for the week, each walking away with $1,000 worth of the highlighted token.
This is your opportunity to dive deeper into Web3 with Binance. With significant rewards available, it’s the perfect time to engage with the marketplace and potentially enhance your digital asset portfolio. Please check our announcement for more details!
Final Thoughts
As we continue to refine and expand the capabilities of the Binance Web3 Wallet, our focus remains on delivering practical, user-centric improvements that matter to you. We also appreciate your ongoing feedback and participation, which guide our efforts to better serve your needs in the ever-evolving digital asset landscape.
The recent updates, from the Inscriptions Marketplace to the introduction of ERC-404 tokens and beyond, are steps in our journey towards creating a more useful and efficient access point to Web3. We’re excited for you to explore these new additions and continue your journey through the decentralized web with Binance Web3 Wallet. Stay tuned for more updates, and as always, thank you for your trust and support!
Further Reading
Disclaimer: Binance Web3 Wallet is an optional product. It is your responsibility to determine if this product is suitable for you. Binance is not responsible for your access or use of third-party applications (including functionality embedded within the Binance Web3 Wallet) and shall have no liability whatsoever in connection with your use of such third-party applications, including, without limitation, any transactions you dispute. Please carefully review the Binance Web3 Wallet Terms of Use and always do your own research.