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Binance Updates: September 2020

Binance, is one of the major exchange platforms that provides various cryptocurrency trading and considered as the largest cryptocurrency exchange in the world in terms of trading volume. Founded by Changpeng Zhao in July 2017, a developer who had also known for his creation of  frequency trading software.

Over the years, Binance established various financial services for its clients namely staking, margin trading, lending and futures. The firm also launched black-box block, Binance Chain along with the launch of Binance Decentralized Exchange.

After the launch of Binance Futures contract dedicated to DeFi, Binance Exchange updates, and supporting other blockchain’s ecosystem updates in August 2020, Several promos, updates and ongoing events happened in early September.


Binance P2P supports E-wallet Apps Gcash and Paymaya

E-wallet application such as Gcash and Paymaya are the two major Filipino e-wallet apps that was added as a payment options by Binance P2P. Binance P2P gives the Filipinos an opportunity to buy and sell cryprocurrency by attaching user’s e-wallet account to its binance account.

Eversince the support for PHP was launch in June 2020 and by Filipino’s massive passion and interest for Bitcoin and cryptocurrencies, Binance P2P have processed over $13 Million dollars and expecting month-over-month users growth. Binance also release a guide on how to attach your Gcash or Paymaya account to your Binance Account.

Aside from Gcash and Paymaya, Binance also added Western Union, one of the biggest money transfer and remittance services in the Philippines. About 10% Filipino workers who work overseas used remittance centers to transfer money, as Binance P2P main objectives is to unlock all mode of payments for transferring value with a use of cryptocurrency.


The Launch of Binance Smart Chain

Binance Smart Chain, a parallel blockchain to Binance Chain, is introduced live in mainnet that enables the creation of smart contracts for tokens on the Binance-branded blockchain. It also initiates the all-new staking mechanism for BNB, considered as one of the top cryptocurrency in the world.

The launch of BSC, is expected to greatly increase the use of both Binance Chain and BNB. BSC produces an ecosystem where validators, token holders, developers, and users will benefit rewards from a blockchain that offers high performance space for further innovations.

Binance offers blockchain users a new decentralized machine with many valuable assets and greater benefits.


Binance lists Sushi (SUSHI) , DFI.Money (YFII) and Kusama (KSM)

Sushi (SUSHI), DFI.Money (YFII), and Kusama (KSM) are the latest pairs of Binance listed on September 1 and 2 respectively. With a listing fee of 0 BNB, binance also introduced the Project Reports, Fees and Rules and users can now start depositing SUSHI, YFII, and KSM for trading.


Farm Launchpool’s First Project, Bella Protocol (BEL) By Staking BNB, BUSD or ARPA Tokens.

Bella Protocol (BEL) will be the host of the launchpool’s First project. Launchpool, released by Binance is a new product where users will be able to get new token rewards in exchange of staking tokens like BNB and BUSD. The stake will last for 30 days starting September 9, 2020, 0:00 am (UTC).

BEL Launchpool token rewards is 5,000,000 BEL, with a token supply of 100,000,000 BEL. 1 BEL is equivalent to 0.75 USD for Private Sale Token Price and No upperlimit and KYC required.

Binance also published basic instructions to calculate BEL rewards and how to farm BEL tokens on Binance.


Binance BSwap: Instant Liquidity, Low Fees

On September 4 2020, Binance launched its new trading platform called BINANCE BSwap that allows the user to receive the benefits of DeFi Services using their own Binance account. Using BINANCE BSwap, the user lets pool tokens for easy profit and immediate cash-flow. It is the first automated market maker (AMM) in centralized exchange. It provides different pool of cash-flow, resulting the smooth trade of crypto assets.

BINANCE BSwap also produced stable prices and lower transaction fees which is done via instant swap. The prices and fees change when you swap, add or remove funds in the pool because it depends on the number of asset in liquidity pool.

With a use of DeFi platforms like BINANCE BSwap, users will get the opportunity to enter the DeFi ecosystem and introduced the continous growth of DeFi Market.


Game On: Buying Digital LAND NFTs in The Sandbox

Binance was also starting to explore more outside the box, together with the objectives of applying blockchain technology to certain potential platforms like social gaming.

Binance bought 4,012 LAND NFTs in The Sandbox, one of the decentralized gaming platform recently completed a high sale on Binance Launchpad. Binance plans to engaged blockchain community inside Sandbox virtual world by organizing NFTs creation contest and distributing LANDS to creators who propose the most appealing games made with the Sandbox Game Makers.

This partnership between Binance and The Sandbox is a further step towards blockchain potential succesion in gaming industry and greater improvements  for gamers and developers.


Related Article  TABOO Raises $10 Million to Revolutionize Adult Entertainment with Blockchain Technology and NFTs

Binance Charity donates 43,000 face shields to essential services in Mumbai, New Delhi, Bengaluru and Goa

The cases of COVID-19 all around the globe is still raising and India is one of the most affected countries in the world with a recorded cases of 4.47 M as of September 11, 2020 and an indication that needs a help.

Binance Charity, reached out and produced over 43,000 face shields to be distributed in 30+ hospitals, police stations and NGOs across India.


Merhaba Turkey: Introducing Binance TR, Turkey’s Local Exchange 

Binance launched turkey’s first local Exchange, Binance TR, owned by Binance and operated by BN Teknoloji A.Şa.  Binance TR is fiat-to-crypto and crypto-to-crypto exchange for users in Turkey. It leverages by Binance Cloud, Binance’s industry-leading technology, security, and liquidity. Turkey users can now deposit and withdraw Turkish lira (TRY) on Bank channels and trade it directly to crypto. 

“Interest and development in the crypto space from Turkey have been dynamic from the early days of Binance.” said Binance CEO Changpeng Zhao (CZ).

Geographically speaking, Turkey is located between Asia and Europe and it serve as a key bridge market for the global company and for the global blockchain community.

Image Source – KAP Digital

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