Binance established the SAFU as a contingency insurance fund to secure users' assets. The service offers multiple benefits, including a funds account where users may deposit cryptos and earn interest.Īnother notable feature of the platform is the Secure Asset Fund for Users (SAFU). The Binance Earn service aspires to be a one-stop shop for DeFi on the platform. One such feature of the platform is Binance Earn. Gradually, Binance has evolved into a multi-faceted DeFi platform that aims to offer its users many financial solutions in addition to trading and exchange. Initially, the exchange rolled out the following features:
Binance jump-started through its extensive network of cryptocurrency partners to effectively serve the global market.Ĭatering to this goal, Binance created a decentralized exchange and aims to execute 1,400,000 orders per second. Security has been thoroughly tested and validated on the platform. With a vision to provide a secure, efficient, quick, and user-friendly decentralized exchange, Binance's team brings a wealth of experience to the table. All these factors seriously hampered the development of a robust crypto exchange for the masses. The lack of liquidity on exchanges compounded traders' troubles, which affected both retail and institutional participants. Those were simple exchanges incapable of dealing with large volumes of trades. Users can earn yield or trade with cryptocurrency using the exchange's support services.īefore Binance, crypto exchanges were created by developers who lacked experience in finance or running a decentralized exchange. The whitepaper explains that Binance is a portmanteau for “binary finance” and offers various decentralized finance (DeFi) services on a user-friendly platform. Some holders of Luna are pledging to dump Luna 2.0 as soon as they receive their airdropped allotment, in an effort to recoup some losses from their now worthless investment.Binance Coin (BNB) is the cryptocurrency issued by the Binance decentralized exchange (DEX), which is one of the largest cryptocurrency exchanges by volume. Luna 2.0’s price may see more volatility after Binance starts a yearslong process to convert user holdings of Luna and TerraUSD-the two cryptocurrencies launched by Do Kwon’s Terraform Labs-into Luna 2.0, by “airdropping” the replacement coins into affected user wallets. But on Twitter, Binance CEO Changpeng Zhao claimed the exchange needed more time to prepare for Luna 2.0’s airdrop and listing due to its “large userbase.”
Other crypto exchanges, such as KuCoin and OKX, are already trading Luna 2.0. Eastern on Tuesday morning, registering the token in its Innovation Zone, which is a space for coins that “pose a higher risk than other tokens.” After paring Monday’s gains, the coin is currently trading at 43% down from its debut peak. The price surge took off hours before Luna 2.0 debuts on the world’s largest cryptocurrency exchange, Binance.īinance listed Luna 2.0 at 2:00 a.m. After tanking 80% from its debut price of $17.80 on Saturday, investors seemingly rushed back in to support the replacement crypto, pumping Luna 2.0’s price up 97% from its $6.15 floor to a peak of $11.97 on Monday, according to CoinMarketCap.
0 kommentar(er)
