Binance has announced intentions to integrate decentralized BNB assets held in Web3 MPC (Multi-Party Computation) wallets in its Launchpool reward system. This integration, expected to take effect with the next Launchpool event signifies Binance’s embrace of Decentralized Finance (DeFi) principles.
Binance Expands Users Earning Opportunities
This strategic development opens the way for users to maximize earning opportunities across the platform while bridging the gap between centralized and decentralized finance. With the new integration, users holding decentralized BNB assets in Web3 MPC wallets will see these assets calculated into their total BNB holdings for Launchpool rewards.
Binance said the integration is not limited to the Launchpool platform, confirming the recognition of Megadrop and HODLer airdrops as BNB assets. In the future, Binance plans to support a wide range of decentralized BNB assets. The platform’s support may extend towards liquidity provider tokens from Decentralized Exchanges (DEXs), and BNB tokens pledged for liquidity in various protocols.
Others that may be supported include income tokens from yield-generating protocols and interest-bearing tokens from lending platforms.
The Growth of BNB
Binance Coin (BNB) is the native token of the Binance ecosystem that facilitates crypto traders. Originally launched on the Ethereum blockchain, BNB is now among the world’s leading utility tokens. As of this writing, BNB is ranked the fifth largest cryptocurrency by market capitalization, currently at $83.7 billion.
As highlighted in an earlier report, BNB stood out as one of the widely accepted crypto in the market. Binance’s strategy of launching new services will likely improve the use and acceptability of BNB in the market.
Binance Gets Victory in Court
In the case involving BNB, the SEC recently informed Binance and other defendants of its intention to amend its complaint. This amendment relates to third-party crypto asset securities, previously submitted in opposition to the exchange’s move to dismiss.
The SEC’s action follows a recent court ruling, declaring BNB as unregistered security. Given this development, the SEC claims there is no need for the court to issue a verdict to substantiate accusations against the tokens.
CZ Still in Prison
Contrary to recent rumors, Changpeng ‘CZ’ Zhao, the former CEO of Binance is still serving his prison sentence. According to former reports, CZ, currently serving time for violating anti-money laundering laws in the US will not be released until September 29.
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