Binance: DEX Mainnet and Fiat-to-Crypto Platform in April, Matic Network Token Sale, Binance.je on Coinmarketcap and Trust Wallet integrates Celer Network and plans staking Tezzies

Biweekly update 27th March — 10th April

This is not financial advice.

During the last two weeks Binance illustrated as always high social activity in media landscape. Binance CEO Changpeng “CZ” Zhao made two major announcements during his keynote speech at Deconomy 2019 in Seoul, South Korea. First, CZ revealed that Binance Singapore will launch its fiat-to-crypto platform in April 2019. With Binance Singapore you will be able to buy cryptocurrencies using Singapore dollars. Secondly, CZ also said that upcoming decentralized exchange Binance DEX will launch in April 2019. To continue, Binance Jersey is now on Coinmarketcap. Finally, Trust Wallet, the crypto wallet app of Binance, has entered into a strategic partnership with Celer Network, a global blockchain ecosystem. This partnership will empower developers to easily onboard new users to various blockchains for dApps and easily build smooth user experiences on dApps only matched by centralized applications.

Development Ecosystem

Github metrics
Developer activity (from Coinlib.io)

Binance has rolled out new indicators that allow you to track price breakthroughs and significant price movements on the exchange. See these indicators on the website’s basic view, as well as our PC app, which you can download here.

Changpeng Zhao, CEO of the world’s second largest crypto exchange by adjusted volume Binance, has revealed that the company will launch its decentralized trading platform later this month.

Another announcement refers to the launch of Binance Singapore: CZ has stated that its fiat-to- crypto exchange servicing in the country is also set to launch in April. Binance’s Trust Wallet will also be integrated with the exchange, along with the Ledger Nano S. More compatible wallets might also be added after the launch.

What’s new and improved after hardfork:

  • Upgraded core Tendermint components
  • Refined the governance workflow for validators
  • Performance enhancements

Trust Wallet

Binance’s Trust Wallet users can start storing and using Stellar Lumens on the crypto wallet app. This is all part of our mission to become the crypto wallet app of choice for using the top 20 cryptocurrencies in the world by market cap.

In addition, Trust Wallet has launched support for four more cryptocurrencies: Aion (AION), Kin (KIN), Nimiq (NIM) and Thunder Token. Here are more details about these additions.

Staking involves the act of holding cryptocurrencies as part of the process of running blockchains that use Proof-of-Stake consensus mechanism. Staking gives crypto holders the ability to vote on changes in the blockchain and receive income for validating transactions. Launching the staking feature also adds opportunities for Trust Wallet to support Proof-of-Stake cryptocurrencies and other related assets.

In addition, Trust Wallet added Tezos wallet support. Tezos is one of the top 20 cryptocurrencies in the world as of press time. In addition, the crypto wallet app is preparing for the addition of native support for staking in the Tezos on-chain governance mechanism.

Together, Trust Wallet and Celer Network will work on providing seamless integrations and fluid interactions and user experiences for decentralized applications, or dApps. Trust Wallet users will immediately benefit from the partnership, because they will be able to instantly send Ethereum (ETH) and ERC-20 tokens, including many stablecoins, with zero latency through Celer Network’s layer-2 scaling network. The partnership will first focus on payments and simple interactive dApps. In the long term, the scope will expand to interactive gaming, pay-per-use services, microinsurance, non-custodial financial assets exchanges, and decentralized derivative exchanges.

See also:

Social encounters

India has experienced significant economic growth in an increasingly mobile and interconnected world. This nation of 1.36 billion people, more than every country except China, also has the biggest diaspora in the world. In addition, the country has perhaps the world’s biggest outsourcing industry, worth about $150 billion. Needless to say, huge amounts of cross-border money flow into the country, mainly in the form of remittances. Under the traditional financial systems of wire transfers and banking networks, a lot of this hard-earned cash end up in billions of dollars in transaction costs.

Blockchain and cryptocurrencies for cross-border remittances can save the world billions of dollars every year. With blockchain, you can transfer digital tokens to anyone in the world, paying only for the network power or technology used to send those tokens, which costs way lower than the current prevailing fees in the traditional services. This way, much more of your money can reach your family, instead of being wasted on fees.

Despite the changing attitude toward altcoins and initial coin offerings (ICO) on the whole, Launchpad — the token offering platform developed by the world’s leading cryptocurrency exchange Binance — is selling out of its offerings in a matter of minutes. With the firm now concluding a series of sold-out token launches, the company divided opinions when it announced changes to the structure of its platform.

The changes to Launchpad’s format drew sharp criticism from members of the crypto community, with many saying that the changes would price out small investors.

Investors and crypto enthusiasts expressed concerns over what implications the new format could have.

The main concerns fall into two categories. The first issue that critics were swift to point out is that the proposed system appeared to favor “whales” — i.e. individuals or entities that hold a large number of cryptocurrency — and was in danger of pricing out smaller investors unable to hold 100 BNB. CZ pointed out that, while it would be possible to lower the threshold, this would consequently reduce the percentage chance of winning and could result in dissatisfaction with the service. Many critics suggested a “magic number” of 50 BNB. While CZ admitted that the threshold could potentially be a mistake, he did stress that the core demand remained very high for Launchpad and that limiting the minimum amount does not represent a quick solution to the problem.

The second issue concerned whales creating several accounts in order to gain additional tickets, thereby maximizing their chances of being selected. In addition to information in the press release stating that all due diligence and Know Your Customer (KYC) measures would still apply as usual.

  1. Binance Research Analyzes Irregularities Discovered on Augur. Research takes an in-depth look into irregularities discovered on @augurproject, the largest decentralized prediction market platform built on top of Ethereum. The report further reveals several issues faced by Augur in its current iteration, including low liquidity and participation rates, bare-bones usability functions, and complex voting, settlement, and forking mechanisms.
  2. MATIC NETWORK (MATIC). Matic Network is a Layer 2 scaling solution that achieves scale by utilizing sidechains, Plasma framework and PoS validators.

See also:

Upcoming events:

Date: 6–17 APR. 2019

Location: Paris, France

Website: https://pbwsummit.com/

Blockchain Charity Foundation (Binance BCF)

BCF is expanding its support to 3,747 students and staff across 10 schools in Jinja and Kampala in Uganda. Each beneficiary was provided with the mobile crypto wallet, Trust Wallet account where they receive a daily crypto donation worth US$0.30 in BNB for their school lunches for a full year. The donation for these 10 new schools, totaling in US$236,061, was made possible by Binance and BCF’s sponsors, as well as TRON, IOST, and a Binance VIP customer, with the distribution of delivery, separated within 3 tranches for the current timeline.

The donated crypto funds will then be delivered to the crypto wallet held by the vetted suppliers, who provide food to the schools every day. The suppliers are then able to redeem crypto to Uganda shillings on Binance Uganda, which was established in October 2018 as the first fiat-to-crypto exchange of Binance.

Finance

Token holders and the number of transactions (information from Etherscan.io)

Binance Exchange

Listing Updates

Binance Launchpad: Token Launch Platform

The MATIC token sale will follow a new lottery format, using the new rules previously announced by Binance.

Token Sale Details:

  • Launchpad Session Time: 2019/04/24 08:00 AM (UTC) to 2019/04/26 2:00 PM (UTC)
  • Token Name: Matic Token (MATIC)
  • Total Token Supply: 10,000,000,000 MATIC
  • Total Tokens Allocated to Binance Launchpad: 1,900,000,000 MATIC (19% of total token supply)
  • Public Token Sale Price: 1 MATIC = 0.00263 USD (price in BNB will be determined 1 day prior to the lottery date)
  • Token Sale Format: Lottery
  • Max Number of Winning Lottery Tickets: 16,666
  • Allocation Per Winning Ticket: 300 USD (114,068.44 MATIC)
  • Supported Sessions: BNB only

Lottery Timeline:

  • 2019/04/01 11:00 AM (UTC): Begin depositing or purchasing BNB into your account. Users may also begin signing the Token Purchase Agreement.
  • 2019/04/05 0:00 AM (UTC): User BNB balances are recorded at this time, and will continue to be recorded at 0:00 AM (UTC) each day for 20 days.
  • 2019/04/24 0:00 AM (UTC): Final BNB balances in user accounts are recorded to determine eligibility to claim lottery tickets. The Token Purchase Agreement closes and cannot be signed after this time.
  • 2019/04/24 8:00 AM (UTC): Ticket claim opens for all eligible users for a 24 hour period.
  • 2019/04/25 8:00 AM (UTC): Ticket claim closes and the lottery draw begins.
  • 2019/04/25 2:00 PM (UTC): Winning tickets are announced and the respective BNB will be deducted the winning users’ accounts within 24 hours. Please ensure you have sufficient BNB in your account to deduct if you have a winning ticket.

Lottery Ticket Allocation

Users will be able to claim up to a maximum of 5 lottery tickets based on their BNB holdings over the 20 days (represented by X below) leading up to the lottery draw date.

For example, 50 ≤ X < 200 means that your BNB balance over the entire 20-day period is kept at 50 BNB or more, but does not exceed or reach 200 BNB.

Roadmap

What’s next?

  • Binance Chain mainnet to launch in April
  • Fiat-to-crypto exchange servicing is also set to launch in April

Partnerships and team members

A platform that says it offers an intelligent and faster way of trading cryptocurrencies has announced a collaboration with Binance, the largest crypto exchange in the world.

Koinfox believes the collaboration will mean that its intuitive tools will be available to a wider audience. The company claims it is the world’s first crypto platform to offer “Bracket Trading” across global exchanges — a tool that brings together buy price, sell price and stop loss into one place for individual traders. As well as enabling traders to receive live status updates about their brackets, the software helps them to keep track of daily earnings.

Other features include the ability to quickly cancel brackets in the event that market movements do not follow the direction a trader was anticipating, as well as access to a plethora of indicators so users can make informed decisions. It is also possible for Koinfox customers to emulate the bracket trades of reputed users, copying their strategies in a live environment, if they so wish.

Social media metrics

Social media activity
Social media dynamics
Social media dynamics

The charts above illustrate widespread increase in the number of indicators: Telegram, Twitter, Medium, Instagram followers and Reddit subscribers. In general, Binance experiences the gradual increase in the level of social activity.

  • Twitter (Binance) — official announcement channel.
  • Instagram — official channel which covers Binance team achievements, charitable work and etc. (300–800 likes per publication).
  • Reddit — news about projects and blockchain, links to interviews, podcasts, upcoming events.
  • Telegram — official announcements channel (20k — 40k views per publication)

The graph above shows the dynamics of changes in the number of Binance Facebook likes, Reddit subscribers and Twitter followers. The information is taken from Coingecko.com.


This is not financial advice.

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