Join the #BURNGMT Campaign and Win Up to $10,000 in $GMT!
We’re thrilled to announce a hashtag campaign sponsored by @GMT DAO giving you the chance to earn amazing rewards by sharing your insights on the GMT DAO Burn Initiative! GMT DAO, supporting projects like STEPN and MOOAR, has launched a 60-day voting event (Nov 21, 2024 – Jan 20, 2025) where users can vote to burn 600M GMT tokens. Participants share 100M GMT in rewards for engaging in the event. 🗓 Duration: December 5, 2024 (13:00 UTC) – December 12, 2024 (23:59 UTC) 🎁 Rewards: $10,000 worth of $GMT for the top 50 posts based on engagement! How to Participate: Follow @GMT DAO on Binance Square.Create and post original content on Binance Square with the hashtag #BURNGMT Share your unique insights about the GMT Burn Initiative. Posts must be at least 300 characters.Share your post on X (Twitter) and tag @Stepnofficial with the hashtag #BURNGMT. Encourage your followers to like, comment, and share to boost engagement! Suggested Content Ideas: 600M GMT Buyback and BURNGMT Initiative: Highlight the Team's Confidence and Strength. Why participate in BURNGMT Initiative? Because the voting initiative involves burning 600 million GMT tokens that were repurchased for $100 million. These tokens include all early advisor, team, and investor allocations that had not yet been unlocked.Introduction to GMT's Ecosystem Products and Partnered BrandsHow does the voting burn mechanism work? Explain the 60-day lock and 100M GMT reward pool.GMT tokenomics and burn impact: Analyze token distribution and burning 600M GMT.How to Participate in the BURNGMT Initiative. Reward Tiers: The top 50 posts based on unique engagement (likes, comments, shares) and minimum impressions per rank will share $10,000 worth of $GMT: Top 1-10 posts: $400 worth of $GMT each (Minimum 5,000 impressions required)Top 11-25 posts: $200 worth of $GMT each (Minimum 3,000 impressions required)Top 26-50 posts: $120 worth of $GMT each (Minimum 1,000 impressions required) Guidelines: Posts must be published by December 12, 2024 (23:59 UTC) to qualify.Content must be original, at least 300 characters, and relevant to the GMT Burn Initiative.Misusing hashtags, using misleading headlines and leads, or posting irrelevant content will lead to disqualification.Multiple high-quality entries are encouraged for higher chances of winning.Users must have posted at least one piece of content in the last 30 days to participate.Clickbait headlines and leads are prohibited and will lead to disqualification.Posts must receive at least 5 total engagements (likes, comments, or shares) to qualify for the reward ranking.Posts must meet both engagement and impressions requirements to qualify for the reward ranking.Engagement metrics (likes, comments, shares) combined with impressions will determine ranking. About GMT and GMT DAO: GMT, a previous Binance Launchpad project, plays a central role in the GMT ecosystem. GMT DAO, the token’s ecosystem fund, supports various products like STEPN (with over 6M users), STEPN GO, and more. GMT is widely used in transactions, staking, and fee payments across ecosystems like MOOAR (NFT trading) and DOOAR (cross-chain DEX). Collaborations with brands such as Casio, ASICS, and Adidas further bolster its reach.
Recently, the GMT team repurchased 600M unlocked GMT tokens from investors and advisors, donating them to GMT DAO for a 60-day locked voting event from Nov 21, 2024, to Jan 20, 2025. Participants can decide whether to burn these tokens while sharing 100M GMT as rewards. For more information about GMT, visit: https://gmtdao.com/
Terms and Conditions: This campaign may not be available in your region.Only content tagged with #BURNGMT during the event (including posts and articles) will qualify.Posts must receive at least 5 total engagements (likes, comments, or shares) to qualify for the reward ranking.Content relevance must be 70% or higher. Misusing hashtags, using misleading headlines and leads, or posting irrelevant content will lead to disqualification.Users must have posted at least one piece of content in the last 30 days to participate.Only new, original content is eligible. Previously submitted work is not eligible.Submissions will be evaluated by a panel from the Binance Square team, based on topic relevance, formatting, research quality, factual sourcing, and originality. Content must also align with Campaign Rules. Only content no shorter than 300 characters will qualify for the rewards.Posts that attempt to boost engagement by exploiting Red Packets and giveaways will be disqualified.The content needs to be posted in Binance Square organically to qualify for the reward.In order to be eligible for a reward, your account must be completely configured, which includes a properly set up username and a profile picture. Winners of the week will be notified via a push notification under Creator Center > Square Assistant. Entries by Media & Project partners will not be considered for this campaign.Rewards will be distributed within 20 working days after the activity ends. You can check in “Funds” > “Funding Account.”Illegally bulk registered accounts or sub-accounts shall not be eligible to participate or receive any rewards. Binance reserves the right to disqualify any account acting against the Binance Square Community Guidelines or Terms and Conditions.Binance reserves the right at any time in its sole and absolute discretion to determine and/or amend or vary these terms and conditions without prior notice, including but not limited to canceling, extending, terminating or suspending this activity, the eligibility terms and criteria, the selection and number of winners, and the timing of any act to be done, and all participants shall be bound by these amendments.Binance reserves the right of final interpretation of this activity.Where any discrepancy arises between the translated versions of this announcement and the original English version, the English version of this announcement shall prevail.Additional promotion terms and conditions can be accessed here.
The Bull Run is underway, bringing with it the opportunity for significant gains in the cryptocurrency world. But before you dive headfirst into this frantic race for profits, it's crucial to arm yourself with solid strategies to secure your investments.
Security First:
- Two-Factor Authentication (2FA):Enable 2FA on all your exchange accounts, including Binance. This adds an extra layer of protection against unauthorized access.
- Anti-Phishing Codes:Use unique codes that can only be found on your own device. This helps spot phishing attempts before it's too late.
- Monitor Your Transactions: Binance offers real-time notifications for suspicious transactions. Stay vigilant and respond quickly if something seems off.
Strategies to Benefit from the Bull Run:
- Risk Management:Don't put all your eggs in one basket. Diversify your investments and use stop-losses to minimize losses if the market takes an unexpected turn.
- Due Diligence:Do your research. Don't get swept up in the general excitement. Analyze project fundamentals, the teams behind them, and the utility of tokens.
- Take Profits: During a bull run, it's tempting to hold everything, but taking partial profits can help you avoid a freefall if the market reverses.
- Keep a "Moonbag": If you have long-term confidence in a crypto, keep a portion of your investment for potential further gains, while securing some of your profits.
-Patience is Key:Don't fall into the "Fear Of Missing Out" (FOMO) frenzy. The best investors are those who stay calm, make rational decisions wait for opportune moments to buy or sell.
At this critical moment when the market seems ready to take off, make sure to strengthen your defenses against security risks while preparing your investment strategy. A bull run can be your ticket to wealth, but only if you play smart and safe. Secure your assets, stay informed, and never forget that in the crypto universe, security is the foundation of prosperity.
Note:Regularly check Binance updates for new security features and trading advice to stay ahead of the curve. $BTC
James Howells' Lost Fortune: 7,500 BTC in a Landfill! 💰
The Story: Picture this: In 2013, James Howells of Newport, Wales accidentally threw away a hard drive containing 7,500 Bitcoins. At the time, it was a fraction of its current value. Today, those Bitcoins are worth a fortune! At today's price, 7,500 Bitcoins would be worth about $670 million! 🤑
Key Takeaways:
The Value of Security 🔒: 7,500 BTC could be yours or mine, but the security of your investments should be your number one priority. Don't let your potential billions end up in the trash!
Volatility, a Reality 📊: Bitcoin's price can take you from unknown to billionaire in the blink of an eye. Volatility is both a curse and a blessing. Backup, Backup, Backup 💾: A backup isn’t just a good practice, it’s an absolute necessity in the world of cryptocurrencies.
Perseverance, Maybe Rewarded? 🕵️♂️: James continues to search for his hard drive, showing that sometimes, determination can defy the odds.
What do you think? Share in the comments: How do you secure your own crypto investments? Do you think James Howells will ever find his lost Bitcoin? What would you do with $670 million?
Share, comment, and let’s learn from this incredible story of lost wealth!
During the crypto bull run of 2017, there was a story that was circulating a lot in the community. A Reddit user, known as “LamboGuy,” shared his story that went viral. He recounted how he invested his $10,000 savings in Bitcoin and Ethereum at the beginning of the year, recalling the promises of “Lambo” (an abbreviation of Lamborghini) often made by crypto optimists.
As prices skyrocketed, he saw his investment grow exponentially. When Bitcoin reached highs near $20,000 and Ethereum around $1,400, he decided to sell some of his assets to buy his “Lambo.”
However, after acquiring his dream car, he quickly realized that he no longer had enough cash for his daily expenses. Worse yet, he didn’t plan on holding onto some of his crypto to ride the next bull run or bear market that would follow. He ended up with a luxury car but no means to maintain it, and he had to sell it at a loss when the market crashed.
This story has become a valuable lesson for many in the crypto space, illustrating the importance of risk management, diversification, and financial planning, even in times of market euphoria. It underscores that virtual wealth does not automatically translate into real wealth without a well-thought-out exit strategy. $BTC $ETH $BNB
As we continue to navigate the evolving landscape of blockchain technology, a new paradigm is emerging that promises to revolutionise how we interact with physical infrastructure: DePIN.
𝗪𝗵𝗮𝘁 𝗮𝗿𝗲 𝗗𝗲𝗣𝗜𝗡𝘀?
DePINs are innovative systems that leverage blockchain technology to create decentralised networks for physical infrastructure. These networks enable direct peer-to-peer sharing of resources such as WiFi, data storage, and energy, without the need for intermediaries.
1) 𝐂𝐫𝐲𝐩𝐭𝐨 𝐚𝐜𝐭𝐢𝐯𝐢𝐭𝐲 𝐚𝐧𝐝 𝐮𝐬𝐚𝐠𝐞 𝐡𝐢𝐭 𝐚𝐥𝐥-𝐭𝐢𝐦𝐞 𝐡𝐢𝐠𝐡𝐬 There have never been more monthly active addresses at 220 million. Monthly mobile wallet users also hit an all-time high in June of 27 million. 2) 𝐂𝐫𝐲𝐩𝐭𝐨 𝐡𝐚𝐬 𝐛𝐞𝐜𝐨𝐦𝐞 𝐚 𝐤𝐞𝐲 𝐩𝐨𝐥𝐢𝐭𝐢𝐜𝐚𝐥 𝐢𝐬𝐬𝐮𝐞 𝐚𝐡𝐞𝐚𝐝 𝐨𝐟 𝐭𝐡𝐞 𝐔.𝐒. 𝐞𝐥𝐞𝐜𝐭𝐢𝐨𝐧 Google search trends show rising interest in crypto in several swing states. 3) 𝐒𝐭𝐚𝐛𝐥𝐞𝐜𝐨𝐢𝐧𝐬 𝐡𝐚𝐯𝐞 𝐟𝐨𝐮𝐧𝐝 𝐩𝐫𝐨𝐝𝐮𝐜𝐭-𝐦𝐚𝐫𝐤�
On Saturday, October 12, 2024 in Goma, DRC 🇨🇩, the Binance meet-up was held, bringing together nearly 800 blockchain and cryptocurrency enthusiasts, filling two large rooms at the Goma Serena Hotel. It was an all-time record for Africa in the face of this technological revolution.
This commitment from participants really shows that Africa is ready to step up to this Blockchain technological revolution and explore the benefits and opportunities.
I would like to congratulate my fellow angels Gédéon WAY Yves Awa Muguma Machli Branson @clement for their unwavering support and incredible contribution. A special thanks to Binance Afrique's Operations Manager Anointing Ngoa Atangana whose hard work and vision were essential to the success of this event.
Together, we are advancing blockchain adoption in Africa and opening up new opportunities for all. Let's keep up the momentum and make Africa a leader in technological innovation!
The UAE just eliminated "Valued Added Tax" on all Crypto transfers.
We're witnessing a global sprint towards crypto adoption.
And we *ALL* need to be paying very close attention.
The UAE's main goal?
To boost their position as a global financial hub by making making it more attractive to digital asset and crypto investors.
Key highlights:
A) VAT exemption on services provided by fund managers to licensed funds
B) No VAT on transferring and converting virtual assets like cryptocurrencies
What does this mean for businesses? 1. Cost Savings: Businesses w/ investment funds expect reduced VAT liabilities 2. Retroactive Relief: Exemptions applied retrospectively from January 1, 2018 3. Enhanced Biz Climate: Positioned as leader in crypto biz friendliness
With these updates, the UAE is poised to attract even more investment and innovation.
What are your thoughts on the move? Would you consider moving to Dubai?
Token burning is a deliberate strategy used in the cryptocurrency world where developers remove a portion of tokens from circulation. This act of creating scarcity can potentially drive up the token's value by reducing supply while maintaining or increasing demand.
For instance consider a gaming token with 10 million tokens in circulation. To boost value, developers might burn 2 million tokens, reducing the supply to 8 million. With fewer tokens available, the remaining ones could become more valuable, attracting both investors and players.
Token burning isn't just about increasing value—it's also a way to manage supply and prevent inflation by burning newly generated tokens. While it doesn’t guarantee success, it’s a powerful tool for projects aiming to enhance value and reward loyal holders.
Understanding token burning is key for anyone involved in crypto, as it can significantly influence a project's value and growth potential.
SolvBTC: Revolutionizing Bitcoin Liquidity in DeFi
SolvBTC is an innovative initiative aimed at unifying Bitcoin liquidity across various platforms, enabling seamless participation in decentralized finance (DeFi) and fully exploiting the potential of Bitcoin-related assets1.
Project Objectives
Unifying Bitcoin Liquidity: SolvBTC transforms Bitcoin and its wrapped variants into a single liquid asset, providing ultimate flexibility and access1. Maximizing Returns: Through strategic collaborations with partners like Babylon and Ethena, SolvBTC allows Bitcoin holders to generate high and stable returns while maintaining their exposure to Bitcoin1. Security and Integrity: The liquidity validation network ensures the security, integrity and reliability of SolvBTC1 assets and returns. Functioning
SolvBTC.BBN: In partnership with Babylon, this token allows you to share the economic security of Bitcoin with proof of stake (PoS) networks and earn staking returns1. SolvBTC.ENA: In collaboration with Ethena, this token offers high-quality returns through advanced arbitrage strategies, while maintaining exposure to Bitcoin1. Benefits
Access to DeFi: SolvBTC makes it easy for Bitcoin holders to participate in DeFi opportunities, making their Bitcoin better and smarter1. Stable Yields: Collaborations with leading partners ensure high-quality and stable native yields1. Reinforced Security: The liquidity validation network ensures the security and reliability of SolvBTC1 holdings.
SolvBTC represents a major step forward to integrate Bitcoin into the DeFi ecosystem, providing Bitcoin holders with a unique opportunity to maximize their returns while maintaining optimal security and flexibility1.
Binance Charity is committed to supporting affected communities 🇻🇳
In response to the devastation caused by the recent Typhoon Yagi in northern Vietnam, Binance Charity is committed to supporting affected communities. We will distribute up to $1 million in BNB to Binance users in the most affected areas.
Users who complete their Proof of Address (POA) by September 10, 2024 will receive $50 worth of BNB directly into their Binance accounts. For those who complete their POA between September 10 and 30, 2024, $20 worth of BNB will be airdropped.
The first donations will be made starting September 16, 2024.
@Richard Teng , CEO of Binance said, “We extend our sincere condolences to those affected by Typhoon Yagi. We hope our support will bring some comfort to those affected. We stand in solidarity with the community and hope for a speedy recovery.”
Binance Charity has already conducted several philanthropic initiatives in Vietnam, including saltwater filtration systems and medical supply donations.
🚨 Shocking Smart Contract Exploits You Need to Know! And How to Avoid Them 🚨
Learn from recent attacks to secure your project:
1️⃣ Euler Finance Hack (2023) - $197M loss What Happened: Euler Finance was hit by a flash loan attack exploiting vulnerable code that allowed unauthorized liquidation, manipulating token prices and draining funds. Solution: Implement stringent checks for flash loans and enhance protocol security through rigorous code audits and simulations.
What Happened: The attacker found a loophole in the bonding curve mechanism, manipulating pricing data to drain the protocol by minting tokens at a significantly undervalued rate. Solution: Secure bonding curves and pricing oracles, and validate input data through multiple sources.
3️⃣ Mango Markets Exploit (2023) - $114M loss
What Happened: The attacker manipulated the price of Mango’s native token via low liquidity to borrow funds beyond the collateral’s worth, draining the protocol. Solution: Implement robust price oracles, limit borrowing power, and monitor for abnormal trading behavior.
4️⃣ Level Finance Exploit (2024) - $1.1M loss
What Happened: A bug in the reward calculation allowed the attacker to claim rewards multiple times, draining the protocol gradually through repeated exploitation. Solution: Validate all reward claims, add safeguards against repeated claims, and regularly audit reward mechanisms.
5️⃣ Tornado Cash Governance Attack (2023) - $20M taken What Happened: An attacker gained control of the governance contract using a malicious proposal, allowing them to drain funds from the treasury without proper checks. Solution: Strengthen governance security with time locks, community review, and enhanced multisig controls.
Staying updated on these attacks helps fortify your smart contracts against evolving threats!🛡️
I'm delighted to share this news with you. I've been awarded the Content Angel badge for sharing content on Square. Thank you to the team for this honor. Don't hesitate to follow me 🙂 @Binance Angels @Binance @币安广场