Binance: WalletConnect for desktop DApp, 1.9 billion MATIC tokens ($6.5 million) were sold, $40 million Hack and Binance’s partnership with Elliptic
Biweekly update 24th April — 8th May
During the last two week Binance community illustrated high social activity in the media landscape. To start with, WalletConnect, an open protocol for connecting desktop DApps to mobile wallets using end-to-end encryption, will allow all Trust Wallet users to interact with any DApp without compromising recovery phrases or private keys. Plus WalletConnect is integrated with Binance DEX. To continue, Binance Launchpad has completed the sale of Matic Network (MATIC) tokens. All 1.9 billion MATIC tokens were sold to Launchpad participants who won in the lottery. Last but not least, hackers stole 7,000 bitcoin from Binance wallet.. Changpeng Zhao said he and his team were considering pushing for a rollback on the bitcoin network. However later it was announced that the exchange decided not to pursue the rollback approach. Finally, the exchange has partnered with blockchain analytics startup Elliptic to boost its compliance and security capabilities. The new partnership will help Binance combat money laundering as it grows into new jurisdictions. Trus wallet success in development is impressive. More to follow!
Trust Wallet announced its binance wallet support for its native Binance Coin (BNB) and all upcoming BEP2 Tokens. This release adds the necessary foundation to support Binance DEX in the coming week. For now users will be able to send and receive their freshly swapped BEP2 BNB Tokens.
- Binance’s newly updated Android app (version 184.108.40.206) now lets users buy Bitcoin, Ethereum, Ripple, Litecoin, and Bitcoin Cash using their credit cards. Download the app here.
- Trust Wallet Enables WalletConnect
Trust Wallet announced a new feature, WalletConnect, an open protocol for connecting desktop DApps to mobile wallets using end-to-end encryption. WalletConnect allows all Trust Wallet users to interact with any DApp without compromising recovery phrases or private keys, as you will be notified to approve all transaction requests directly from your mobile device.
Even better, WalletConnect is integrated with Binance DEX. By scanning the WalletConnect QR code shown on binance.org, you can easily link up your mobile wallet.
- Fast Food Chain in Australia to be World’s First to Roll Out New Binance Chain-Powered Point of Sale System
TravelbyBit, the Australian startup that Binance invested in to expand the use of crypto for travel and payments, has made it possible for Origin Kebabs, a popular fast food chain in Australia, to accepting Bitcoin payments in four locations, through the TravelbyBit point-of-sale (POS) platform.
Wei Zhou talks about Stablecoins and its impact on finance with Leslie Tam, who is the Head of Binance OTC Trading and previously worked at Sales and Trading at Merrill Lynch and Goldman Sachs.
- Categorizing Cryptoassets: A Return-Driven Cluster Analysis. Binance Research covers deep analysis of Bitcoin ($BTC), Ripple ($XRP) and other large digital assets.
- COSMOS NETWORK (ATOM). Binance studies this blockchain project that operates a decentralized network of independent, scalable, and interoperable blockchains.
- TRON (TRX)
Blockchain Charity Foundation (Binance BCF)
Binance Charity Foundation has announced the new Binance for Children Ambassador campaign and appointed eleven prominent blockchain influencers as the first official ambassadors under the campaign, with more ambassadors to come in the future to support ongoing plans to expand Binance Charity’s programs.
Blockchain compliance startup Chainalysis has added four more cryptocurrencies to its real-time transaction monitoring tool. The newly supported coins are Binance’s native token Binance Coin (BNB) and three stablecoins — Gemini dollar (GUSD), Tether (USDT) and Circle’s USD Coin (USDC). With Chainalysis having recently rebuilt its technology to scale and support more blockchains, the firm will be able to add new cryptocurrencies more quickly. The startup’s blockchain investigation tool, Chainalysis Reactor, now also supports the same 10 cryptocurrencies, which it says represent 85 percent of the top 25 coins by trading volume.
Binance Launchpad, the exclusive token launch platform of Binance helping transformative blockchain startups raise funding to develop their products aiding in cryptocurrency adoption, has completed the sale of Matic Network (MATIC) tokens. This is the fourth token sale of Binance Launchpad this year and the first token sale under new lottery rules.
The token sale was conducted through a single session where participants purchased MATIC tokens using Binance Coin (BNB). In this session, all 1.9 billion MATIC tokens were sold to Launchpad participants who won in the lottery.
UPDATE: After this article was published, Changpeng Zhao, CEO of Binance, said in a follow-up tweet that after speaking with various parties, the exchange decided not to pursue the rollback approach.
Binance CEO Changpeng Zhao earlier today said he and his team were considering pushing for a rollback on the bitcoin network after hackers stole 7,000 bitcoin.
Zhao hosted an Ask-Me-Anything live session at 3:00 UTC on Wednesday to address various questions from the community including the hack that stole some 7,000 bitcoin from the exchange just a few hours ago.
Answering questions on whether the firm considers rolling back bitcoin network transactions, which would require pushing for consensus from major miners and mining pools to gather over 51 percent of the network’s total hashing power, Zhao said:
“To be honest, we can actually do this probably within the next a few days. But there’re concerns that if we do a rollback on the bitcoin network at that scale, it may have some negative consequences, in terms of destroying the credibility for bitcoin.”
However, to try and roll back the network without an agreement between the entire industry and community would most likely be seen by many as effectively an attack on the bitcoin network, which is intended to be immutable.
He added that he has also seen a lot of people objecting to rollbacks since there are the “ethical and reputational considerations for the bitcoin network.”
- Binance added the following trading pairs: ATOM/BNB, ATOM/BTC and ATOM/USDT, MITH/BNB, ATOM/USDC, ATOM/PAX and ATOM/TUSD, ETC/USDC, ETC/PAX, ETC/TUSD, BAT/USDC, BAT/PAX and BAT/TUSD
- Since the launch of the Binance DEX and Binance Chain, several projects have integrated with and announced support for Binance Chain, including:
- Mithril has migrated to Binance Chain and all MITH tokens have been converted to BEP
- Blockmason is launching the Blockmason Credit Protocol Token (BCPT) on Binance Chain.
- ZelCore has united all features of Binance DEX & mainnet natively on its platform
Partnerships and team members
The exchange has just partnered with blockchain analytics startup Elliptic to boost its compliance and security capabilities, Elliptic announced Thursday. The new partnership — the third relating to compliance in the last two months — will help Binance combat money laundering as it grows into new jurisdictions.
Elliptic’s software helps identify potential transactions linked to illicit activities such as money laundering and terrorist financing, and is claimed to have monitored risks for transactions worth “several trillion dollars.”
Social media metrics
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.