This Month at Binance: Innovation Never Stops
September has been one of the busiest months at Binance this year.
Last month the world’s largest crypto exchange by trading volume kicked off the inaugural Binance Blockchain Week Paris, a three-day event exploring the best of Web3. They also expanded their ever-growing suite of products, including introducing a more user-friendly way to earn crypto passive income.
Concurrently, the team has continued to push product innovation — which is something that Binance views as a crucial driving force for industry growth. The team’s values have remained unchanged despite the negative market sentiment. They strive to continue building for Binance users and the larger digital asset space.
Here’s a quick summary of the Binance ecosystem’s biggest updates this month:
- Launched a new marketplace for crypto gift cards.
- Launched Simple Earn, a one-stop platform for passive crypto income.
- Added a new Web3 content feed for Binance Pro users.
- Invested in six different Web3 projects through Binance Labs.
- BUSD became available on Polygon and Avalanche.
- Made several important updates to the Binance app, including new trading tools and a content discovery feed.
- Announced Binance ID, a secure, frictionless login feature powered by OAuth2 and designed for third-party platforms.
Discover the Binance Gift Card Marketplace
The Binance Gift Card Marketplace brings utility and extra fun with exclusive activities and three new types of crypto gift cards:
- Fixed denomination
Fixed-denomination gift cards provide a more intuitive purchase experience, allowing users to purchase cards loaded with set amounts of supported cryptocurrencies without needing to convert beforehand manually.
Mystery and Cashback gift cards, on the other hand, grant users access to limited-time activities for a chance to take home their share of crypto prizes. This September, Binance gave away $33,000 in MC and DEGO rewards. Stay tuned for more Binance Gift Card activities.
Introducing Simple Earn
Binance revamped some of their most popular Binance Earn products, combining Flexible Savings, Locked Savings, and Locked Staking into a one-stop platform called Simple Earn.
As the title implies, Simple Earn streamlines the crypto subscription process and provides a straightforward experience for digital asset rewards. With one click, users can subscribe their favorite assets to a flexible plan, which allows them to redeem anytime, or a locked plan, which grants higher rewards for fixed-time subscriptions.
Binance Labs: Supporting Web3 Infrastructure
This month, Binance Labs invested in six projects, including blockchain data company Bitgquery, Web3 infrastructure provider Mysten Labs, blockchain security company Salus Security, layer-1 blockchain Aptos, social network project Hooked Protocol, and naming service network Space ID.
As Binance’s official incubator and venture capital arm, Binance Labs continues to identify, support, and empower promising Web3 projects that promote the growth of the larger ecosystem.
BUSD Launches on Avalanche and Polygon
The Avalanche and Polygon network now supports BUSD, providing users with a fast and safe way to transfer the regulated, 1:1 USD-backed stablecoin across platforms. BUSD is also available on Ethereum, BNB Smart Chain, and BNB Beacon Chain.
Binance also announced that users can now deposit any of the stablecoins like USDC, USDP, TUSD and have it automatically converted into BUSD on Binance.com. The auto-conversion feature makes it easier for people to trade with one consolidated orderbook, an improvement on the previous offering where people could only trade USDC, USDP, TUSD, BUSD separately. This update also means that people can withdraw any stablecoins using their BUSD balance at a 1:1 ratio.
New Updates to the Binance App
When Binance first started in 2017, the crypto trading experience was a basic interface with one chart and little to no tools. The company’s philosophy, by contrast, has always been to provide users with every tool they needed or might want: detailed charts, order books, and much more, all wrapped in an intuitive interface.
More trading tools
This month, Binance made some big updates to the Binance app trading interface, including tools like the Daily Percentage Change, Token Info and Funding History, 1-second K-line charts, and a Favourites coin list visible on the homepage. With these added features, users can now review price changes — down to the second — in local time zones while tracking the performance history of their preferred tokens.
Binance recently launched its revamped Binance Options trading platform on the Binance app. Retail traders can now hedge their portfolios or express their views of the market via European-style option contracts on a clean, intuitive user interface. For those unfamiliar with options trading, check out the complete guide prepared by Binance for more information.
Stay updated on all things Web3
Users of the Pro version of the Binance app may have noticed a new content discovery feed at the bottom of the homepage. With this feed, users can seamlessly explore all the latest insights, events, and breaking news of the Web3 space from the convenience of their smartphones.
Binance ID: Register and Login With Binance
Similar to Google, Apple, and Facebook login, Binance ID allows users to register and sign in to third-party platforms using their Binance account. Do note that Binance does not own nor is affiliated with any third-party platform that supports Binance ID.
For more information follow Binance on Twitter or Facebook for the latest news and updates.
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