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Binance Academy
--
7 Things You Should Know About NFTs
TL;DR
NFTs are tokenized, collectible items valued for their uniqueness and rarity, popular on BNB Chain and Ethereum. The value of NFTs relies on their authenticity and scarcity, so it can be helpful to take a closer look at the token on a blockchain explorer.
NFTs have more use cases than just crypto art, and BNB Chain now has an innovative non-fungible token ecosystem. Due to the recent popularity of NFTs in the news and huge selling prices, it’s easy to see similarities with the 2017 ICO craze. But the two are, in fact, very different things.
To understand more, we cover the basics of NFTs based on common misconceptions and frequently asked questions.
Introduction
When it comes to non-fungible tokens (NFTs), art and collectibles are never too far behind. These unique tokens are making waves with huge sales of graphic designers and visual artists. Artist Beeple is one of the most popular examples. His NFT called "Everydays - The First 5000 Days" was auctioned for roughly $69 million.
NFTs are hugely popular, but the topic goes much deeper than just newspaper headlines. Understanding and exploring the world of NFTs is the next step to take if you want to dig a bit deeper. There are many places to find them, use cases to look at, and even misconceptions to clear up.
What is an NFT?
An NFT is a cryptoasset representing something unique and collectible using blockchain technology. The NFT could be in demand because it has been created by a famous artist or composed by a world-class musician. The token could also be helpful in a game or wanted to complete a collection.
You may have already heard of NBA Top Shot, a digital collectible basketball card game. The cards work just like physical trading cards do, but their authenticity is guaranteed through blockchain technology. Some cards are rarer than others, and each has a different value.
Simply put, a non-fungible token cannot be faked or copied. If we look at the definition of fungibility, we can learn a bit more about what makes an NFT special:
Fungibility is an asset’s ability to be interchangeable with assets of the same type.
One bitcoin is equal and tradeable for another bitcoin. A #1/99 Keldon Johnson Holo Icon Top Shot card, on the other hand, is not interchangeable as only one exists.
What can I do with an NFT? Are they tradeable?
NFTs come in all shapes, sizes, and even use cases. Purely collectible digital art NFTs are pretty limited in what you can do with them. You can trade them, of course, but an NFT of a photo isn’t much different from a regular print in terms of utility.
Still, some NFTs have actual uses in games, like the famous CryptoKitties on the Ethereum blockchain. In this case, a collectible cat can breed to pass its traits down onto new cats.
NFTs are commonly used by financial platforms too. There is a massive market for PancakeSwap’s NFTs that are artistic and convertible into cryptocurrency. This unique combination means that people can speculate on the future price of the cashable amount.
These NFTs all have in common the ability to trade them for different digital assets. This means you can buy or sell NFTs using ETH, BNB or other cryptocurrencies. Still, each piece of NFT is unique (i.e., they are not interchangeable).
How is the rarity and value of an NFT determined?
Determining how much an NFT is worth depends on what it represents. When it comes to crypto art, it’s quite similar to any other kind of art. We need to think about who created it, the artistic value of the piece, and how in-demand it might be from other collectors.
If an NFT is part of a limited run or series, specific numbers are often more valuable than others. We usually see #1 as desirable and other numbers people find collectible like #13 or #7. Value and rarity depend on a combination of factors, like the ones mentioned above. You can see from these Top Shot NFTs how their ranking affects the price.
For game-based NFTs, there may be financial benefits from specific NFT items or creatures. If they provide you with an extra $100 in staking rewards, then it’s going to be worth at least $100 without taking into account its artistic value.
PancakeSwap’s NFTs are slightly different. Some of their tokens can be converted into CAKE - the platform’s cryptocurrency. So if, for example, your cuddly rabbit can give you 10 CAKE and the price of CAKE is $20 (USD) per token, then your NFT is worth at least $200.
Where can I find NFTs?
If you want to explore NFTs on offer, there are a few different places to start looking. NFT marketplaces have a variety of non-fungible tokens on sale, from both famous artists and amateurs. There are loads out there to choose from, but some of the biggest are OpenSea for Ethereum-based NFTs and Treasureland or BakerySwap for BNB Chain-based NFTs.
The number of marketplaces keeps growing, and some are more specialized than others. If you are interested in buying something from a famous artist, make sure to check and see how genuine the marketplace is. You can also find NFTs by playing blockchain games or participating in decentralized finance (DeFi) projects.
What are the main NFT projects on BNB Chain?
BNB Chain benefits from a healthy NFT community on the blockchain, and it’s not all art and marketplaces either. There are NFT games and even collectibles with staking or financial benefits.
As mentioned before, BakerySwap and Treasureland are two of the largest NFT exchanges. BakerySwap also allows you to create NFTs quickly and for a reasonable price. When it comes to the art and creative side of NFTs, these are great places to start.
There are also blockchain games like Battle Pets and DeFi protocols experimenting with NFTs in more financial ways. PancakeSwap takes the number one spot for traded NFTs on Treasureland, making it a massive project for NFT usage. You can find out more info on these NFT projects by following the link.
Are NFTs the new ICO?
In short, no. While there are some slight similarities in the money NFTs raise and their recent hype and popularity, that is as far as it goes. An initial coin offering (ICO) is a method used for project fundraising by selling project tokens. It rose to popularity around 2017 and became infamous for the number of scams and failed projects taking part.
It’s easy to see why some people might get the idea that NFTs are similar to ICOs. Recently these digital collectibles have sold for millions of dollars. They are also all over the news and seen as an opportunity to make some “easy money” with crypto. These two points are where the similarities between the two end. Still, it’s crucial that you do your own research before risking your funds because not all projects are legit.
How do you verify the authenticity of an NFT?
Proving that your NFT is legitimate can be a bit tricky, depending on what you’re looking for. No doubt people are uploading other artist’s work and pretending to be them. In this case, you would have to get in touch with the artist to confirm they are selling NFTs of their work.
An NFT’s creator should supply you with some kind of identifier for you to check. Most of the work will involve looking at your NFT on a blockchain explorer such as BscScan. When it comes to blockchain, we take a “don’t trust, verify” approach.
Helpful information could include the minting date and the wallet address that minted the NFT. You could also use the transaction history ID to see if your NFT matches up. This method is better than just checking the image or file associated with your collectible. If we look at the digital artist Beeple’s recent sale, Christie’s has given the token ID, token contract, and wallet address for validation.
There is sometimes a URL to the file or an IPFS link to verify its underlying content. Both, however, can be used by someone else when creating a fake token. In most cases, you’re best off checking with the creator first.
Closing thoughts
When it comes to NFTs, new use cases and developments are constantly coming out. It’s easy to forget that the technology is as recent as 2017 and still in its infancy. Before you start investing money into these tokens, make sure you understand precisely what you’re getting into and how to use them. It’s easy to just think of NFTs as art, but there is a whole world of projects using them in different ways.
NFTs are tokenized, collectible items valued for their uniqueness and rarity, popular on BNB Chain and Ethereum. The value of NFTs relies on their authenticity and scarcity, so it can be helpful to take a closer look at the token on a blockchain explorer.
NFTs have more use cases than just crypto art, and BNB Chain now has an innovative non-fungible token ecosystem. Due to the recent popularity of NFTs in the news and huge selling prices, it’s easy to see similarities with the 2017 ICO craze. But the two are, in fact, very different things.
To understand more, we cover the basics of NFTs based on common misconceptions and frequently asked questions.
Introduction
When it comes to non-fungible tokens (NFTs), art and collectibles are never too far behind. These unique tokens are making waves with huge sales of graphic designers and visual artists. Artist Beeple is one of the most popular examples. His NFT called "Everydays - The First 5000 Days" was auctioned for roughly $69 million.
NFTs are hugely popular, but the topic goes much deeper than just newspaper headlines. Understanding and exploring the world of NFTs is the next step to take if you want to dig a bit deeper. There are many places to find them, use cases to look at, and even misconceptions to clear up.
What is an NFT?
An NFT is a cryptoasset representing something unique and collectible using blockchain technology. The NFT could be in demand because it has been created by a famous artist or composed by a world-class musician. The token could also be helpful in a game or wanted to complete a collection.
You may have already heard of NBA Top Shot, a digital collectible basketball card game. The cards work just like physical trading cards do, but their authenticity is guaranteed through blockchain technology. Some cards are rarer than others, and each has a different value.
Simply put, a non-fungible token cannot be faked or copied. If we look at the definition of fungibility, we can learn a bit more about what makes an NFT special:
Fungibility is an asset’s ability to be interchangeable with assets of the same type.
One bitcoin is equal and tradeable for another bitcoin. A #1/99 Keldon Johnson Holo Icon Top Shot card, on the other hand, is not interchangeable as only one exists.
What can I do with an NFT? Are they tradeable?
NFTs come in all shapes, sizes, and even use cases. Purely collectible digital art NFTs are pretty limited in what you can do with them. You can trade them, of course, but an NFT of a photo isn’t much different from a regular print in terms of utility.
Still, some NFTs have actual uses in games, like the famous CryptoKitties on the Ethereum blockchain. In this case, a collectible cat can breed to pass its traits down onto new cats.
NFTs are commonly used by financial platforms too. There is a massive market for PancakeSwap’s NFTs that are artistic and convertible into cryptocurrency. This unique combination means that people can speculate on the future price of the cashable amount.
These NFTs all have in common the ability to trade them for different digital assets. This means you can buy or sell NFTs using ETH, BNB or other cryptocurrencies. Still, each piece of NFT is unique (i.e., they are not interchangeable).
How is the rarity and value of an NFT determined?
Determining how much an NFT is worth depends on what it represents. When it comes to crypto art, it’s quite similar to any other kind of art. We need to think about who created it, the artistic value of the piece, and how in-demand it might be from other collectors.
If an NFT is part of a limited run or series, specific numbers are often more valuable than others. We usually see #1 as desirable and other numbers people find collectible like #13 or #7. Value and rarity depend on a combination of factors, like the ones mentioned above. You can see from these Top Shot NFTs how their ranking affects the price.
For game-based NFTs, there may be financial benefits from specific NFT items or creatures. If they provide you with an extra $100 in staking rewards, then it’s going to be worth at least $100 without taking into account its artistic value.
PancakeSwap’s NFTs are slightly different. Some of their tokens can be converted into CAKE - the platform’s cryptocurrency. So if, for example, your cuddly rabbit can give you 10 CAKE and the price of CAKE is $20 (USD) per token, then your NFT is worth at least $200.
Where can I find NFTs?
If you want to explore NFTs on offer, there are a few different places to start looking. NFT marketplaces have a variety of non-fungible tokens on sale, from both famous artists and amateurs. There are loads out there to choose from, but some of the biggest are OpenSea for Ethereum-based NFTs and Treasureland or BakerySwap for BNB Chain-based NFTs.
The number of marketplaces keeps growing, and some are more specialized than others. If you are interested in buying something from a famous artist, make sure to check and see how genuine the marketplace is. You can also find NFTs by playing blockchain games or participating in decentralized finance (DeFi) projects.
What are the main NFT projects on BNB Chain?
BNB Chain benefits from a healthy NFT community on the blockchain, and it’s not all art and marketplaces either. There are NFT games and even collectibles with staking or financial benefits.
As mentioned before, BakerySwap and Treasureland are two of the largest NFT exchanges. BakerySwap also allows you to create NFTs quickly and for a reasonable price. When it comes to the art and creative side of NFTs, these are great places to start.
There are also blockchain games like Battle Pets and DeFi protocols experimenting with NFTs in more financial ways. PancakeSwap takes the number one spot for traded NFTs on Treasureland, making it a massive project for NFT usage. You can find out more info on these NFT projects by following the link.
Are NFTs the new ICO?
In short, no. While there are some slight similarities in the money NFTs raise and their recent hype and popularity, that is as far as it goes. An initial coin offering (ICO) is a method used for project fundraising by selling project tokens. It rose to popularity around 2017 and became infamous for the number of scams and failed projects taking part.
It’s easy to see why some people might get the idea that NFTs are similar to ICOs. Recently these digital collectibles have sold for millions of dollars. They are also all over the news and seen as an opportunity to make some “easy money” with crypto. These two points are where the similarities between the two end. Still, it’s crucial that you do your own research before risking your funds because not all projects are legit.
How do you verify the authenticity of an NFT?
Proving that your NFT is legitimate can be a bit tricky, depending on what you’re looking for. No doubt people are uploading other artist’s work and pretending to be them. In this case, you would have to get in touch with the artist to confirm they are selling NFTs of their work.
An NFT’s creator should supply you with some kind of identifier for you to check. Most of the work will involve looking at your NFT on a blockchain explorer such as BscScan. When it comes to blockchain, we take a “don’t trust, verify” approach.
Helpful information could include the minting date and the wallet address that minted the NFT. You could also use the transaction history ID to see if your NFT matches up. This method is better than just checking the image or file associated with your collectible. If we look at the digital artist Beeple’s recent sale, Christie’s has given the token ID, token contract, and wallet address for validation.
There is sometimes a URL to the file or an IPFS link to verify its underlying content. Both, however, can be used by someone else when creating a fake token. In most cases, you’re best off checking with the creator first.
Closing thoughts
When it comes to NFTs, new use cases and developments are constantly coming out. It’s easy to forget that the technology is as recent as 2017 and still in its infancy. Before you start investing money into these tokens, make sure you understand precisely what you’re getting into and how to use them. It’s easy to just think of NFTs as art, but there is a whole world of projects using them in different ways.
Any one Here To buy The Greatest NFT.
Check This Out
#NFT
#NFTRewards
#SellInMay
#CommunityCelebration
https://app.binance.com/en/mp-cms/app/899415d?_dp=Ym5jOi8vYXBwLmJpbmFuY2UuY29tL21wL2FwcD9hcHBJZD0xa3E5NGpGaVMzTExCWlRXVTlDMUxWJnN0YXJ0UGFnZVBhdGg9Y0dGblpYTXZiM1JvWlhJdmQyVmlMMmx1WkdWNCZzdGFydFBhZ2VRdWVyeT13ZWJTcmMlMjUzRCUyNTI1N0IlMjUyNTIyc3JjJTI1MjUyMiUyNTI1M0ElMjUyNTIyJTI1MjUyRmVuJTI1MjUyRm5mdCUyNTI1MkZpdGVtJTI1MjUyRjU5NDc4NDMwJTI1MjUyMiUyNTI1MkMlMjUyNTIyaXNDb25jYXRlbmF0ZWQlMjUyNTIyJTI1MjUzQXRydWUlMjUyNTdEJnNjZW5lVmFsdWU9MTMwMA&description=Explore+Premium%2C+Unique+and+Exclusive+NFTs&title=Binance+NFT&utm_medium=mini_program_1kq94jFiS3LLBZTWU9C1LV&utm_source=mini_program
Check This Out
#NFT
#NFTRewards
#SellInMay
#CommunityCelebration
https://app.binance.com/en/mp-cms/app/899415d?_dp=Ym5jOi8vYXBwLmJpbmFuY2UuY29tL21wL2FwcD9hcHBJZD0xa3E5NGpGaVMzTExCWlRXVTlDMUxWJnN0YXJ0UGFnZVBhdGg9Y0dGblpYTXZiM1JvWlhJdmQyVmlMMmx1WkdWNCZzdGFydFBhZ2VRdWVyeT13ZWJTcmMlMjUzRCUyNTI1N0IlMjUyNTIyc3JjJTI1MjUyMiUyNTI1M0ElMjUyNTIyJTI1MjUyRmVuJTI1MjUyRm5mdCUyNTI1MkZpdGVtJTI1MjUyRjU5NDc4NDMwJTI1MjUyMiUyNTI1MkMlMjUyNTIyaXNDb25jYXRlbmF0ZWQlMjUyNTIyJTI1MjUzQXRydWUlMjUyNTdEJnNjZW5lVmFsdWU9MTMwMA&description=Explore+Premium%2C+Unique+and+Exclusive+NFTs&title=Binance+NFT&utm_medium=mini_program_1kq94jFiS3LLBZTWU9C1LV&utm_source=mini_program
LIVEBinance Announcement
--
Introducing Ethena (ENA) on Binance Launchpool! Farm ENA by Staking BNB and FDUSD
IMPORTANT: Binance will be the first platform to list the token mentioned herein, with trade starting at 2024-04-02 08:00 (UTC). Any claims to offer this token for sale before the stated timeline are false advertising. Please do your own research to ensure safety of your funds!
Fellow Binancians,
Binance is excited to announce the 50th project on Binance Launchpool - Ethena (ENA), a synthetic dollar protocol. The webpage is estimated to be available in 5 hours, before the Launchpool starts.
Users will be able to stake their BNB and FDUSD into separate pools to farm ENA tokens over three days, with farming starting from 2024-03-30 00:00 (UTC).
Listing
Binance will then list ENA at 2024-04-02 08:00 (UTC) and open trading with ENA/BTC, ENA/USDT, ENA/BNB, ENA/FDUSD and ENA/TRY trading pairs. The Seed Tag will be applied to ENA.
ENA Launchpool Details:
Token Name: Ethena (ENA)Max Token Supply: 15,000,000,000 ENA Launchpool Token Rewards: 300,000,000 ENA (2% of max token supply)Initial Circulating Supply: 1,425,000,000 ENA (9.5% of max token supply)Smart Contract Details: EthereumStaking Terms: KYC required Hourly Hard Cap per User: 333,333.33 ENA in BNB pool83,333.33 ENA in FDUSD pool
Supported Pools:
Stake BNB (webpage will be available in around 5 hours): 240,000,000 ENA in rewards (80%) Stake FDUSD (webpage will be available in around 5 hours): 60,000,000 ENA in rewards (20%)Farming Period: 2024-03-30 00:00 (UTC) to 2024-04-01 23:59 (UTC).
ENA Farming Distribution
Dates (00:00:00 - 23:59:59 UTC each day)Total Daily Rewards (ENA)BNB Pool Daily Rewards (ENA)FDUSD Pool Daily Rewards (ENA)2024-03-30 - 2024-04-01100,000,00080,000,00020,000,000
Read about Ethena (ENA) in our research report here, which will be available within 1 hour of publishing this announcement.
Project Links
WebsiteWhitepaperXDiscordTelegram
Please note:
Snapshots of user balances and total pool balances will be taken multiple times at any point of time each hour to get users’ hourly average balances and calculate user rewards. User rewards will be updated each hour. Users will be able to accumulate their rewards (calculated each hour) and claim these rewards directly to their spot accounts at any time.Each pool’s annual percentage yield (APY) and total pool balance will be updated in real time.Tokens can only be staked in one pool at a time. For example, User A cannot stake the same BNB into two different pools at the same time, but can allocate 50% of their BNB into pool A and 50% into pool B.Users will be able to unstake their funds at any time with no delay and participate in any other available pools immediately.Tokens staked in each pool and any unclaimed rewards will be automatically transferred to each user’s spot accounts at the end of each farming period.Binance BNB Vault and Locked Products will support the Launchpool. Users who have staked their BNB in BNB Vault and Locked Products will automatically participate in the Launchpool, and receive new token rewards.If there are more than one Launchpool projects running concurrently, users' BNB assets in BNB Vault and Locked Products will be split and allocated into each project equally unless otherwise specified.BNB Vault assets collateralizing against Binance Loans (Flexible Rate) are not entitled to Launchpool rewards.BNB staked into Launchpool will still provide users with the standard benefits for holding BNB, such as airdrops, Launchpad eligibility and VIP benefits.
Participation in Launchpool is subject to eligibility based on the user's country or region of residence. Please refer to the instructions on the Launchpool page.
Please note that the list of excluded countries provided below is not exhaustive and may be subject to changes due to evolving local rules, regulations, or other considerations.
Users need to complete their account verification and also be from an eligible jurisdiction to participate in farming ENA.
Currently, users residing in the following countries or regions will not be able to participate in farming ENA: Australia, Canada, Cuba, Crimea Region, Iran, Japan, New Zealand, Netherlands, North Korea, Syria, United States of America and its territories (American Samoa, Guam, Puerto Rico, the Northern Mariana Islands, the U.S. Virgin Islands), and any non-government controlled areas of Ukraine.
This list may be updated periodically to accommodate changes in legal, regulatory, or other factors.
Note: There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise.
Thank you for your support!
Binance Team
2024-03-29
Fellow Binancians,
Binance is excited to announce the 50th project on Binance Launchpool - Ethena (ENA), a synthetic dollar protocol. The webpage is estimated to be available in 5 hours, before the Launchpool starts.
Users will be able to stake their BNB and FDUSD into separate pools to farm ENA tokens over three days, with farming starting from 2024-03-30 00:00 (UTC).
Listing
Binance will then list ENA at 2024-04-02 08:00 (UTC) and open trading with ENA/BTC, ENA/USDT, ENA/BNB, ENA/FDUSD and ENA/TRY trading pairs. The Seed Tag will be applied to ENA.
ENA Launchpool Details:
Token Name: Ethena (ENA)Max Token Supply: 15,000,000,000 ENA Launchpool Token Rewards: 300,000,000 ENA (2% of max token supply)Initial Circulating Supply: 1,425,000,000 ENA (9.5% of max token supply)Smart Contract Details: EthereumStaking Terms: KYC required Hourly Hard Cap per User: 333,333.33 ENA in BNB pool83,333.33 ENA in FDUSD pool
Supported Pools:
Stake BNB (webpage will be available in around 5 hours): 240,000,000 ENA in rewards (80%) Stake FDUSD (webpage will be available in around 5 hours): 60,000,000 ENA in rewards (20%)Farming Period: 2024-03-30 00:00 (UTC) to 2024-04-01 23:59 (UTC).
ENA Farming Distribution
Dates (00:00:00 - 23:59:59 UTC each day)Total Daily Rewards (ENA)BNB Pool Daily Rewards (ENA)FDUSD Pool Daily Rewards (ENA)2024-03-30 - 2024-04-01100,000,00080,000,00020,000,000
Read about Ethena (ENA) in our research report here, which will be available within 1 hour of publishing this announcement.
Project Links
WebsiteWhitepaperXDiscordTelegram
Please note:
Snapshots of user balances and total pool balances will be taken multiple times at any point of time each hour to get users’ hourly average balances and calculate user rewards. User rewards will be updated each hour. Users will be able to accumulate their rewards (calculated each hour) and claim these rewards directly to their spot accounts at any time.Each pool’s annual percentage yield (APY) and total pool balance will be updated in real time.Tokens can only be staked in one pool at a time. For example, User A cannot stake the same BNB into two different pools at the same time, but can allocate 50% of their BNB into pool A and 50% into pool B.Users will be able to unstake their funds at any time with no delay and participate in any other available pools immediately.Tokens staked in each pool and any unclaimed rewards will be automatically transferred to each user’s spot accounts at the end of each farming period.Binance BNB Vault and Locked Products will support the Launchpool. Users who have staked their BNB in BNB Vault and Locked Products will automatically participate in the Launchpool, and receive new token rewards.If there are more than one Launchpool projects running concurrently, users' BNB assets in BNB Vault and Locked Products will be split and allocated into each project equally unless otherwise specified.BNB Vault assets collateralizing against Binance Loans (Flexible Rate) are not entitled to Launchpool rewards.BNB staked into Launchpool will still provide users with the standard benefits for holding BNB, such as airdrops, Launchpad eligibility and VIP benefits.
Participation in Launchpool is subject to eligibility based on the user's country or region of residence. Please refer to the instructions on the Launchpool page.
Please note that the list of excluded countries provided below is not exhaustive and may be subject to changes due to evolving local rules, regulations, or other considerations.
Users need to complete their account verification and also be from an eligible jurisdiction to participate in farming ENA.
Currently, users residing in the following countries or regions will not be able to participate in farming ENA: Australia, Canada, Cuba, Crimea Region, Iran, Japan, New Zealand, Netherlands, North Korea, Syria, United States of America and its territories (American Samoa, Guam, Puerto Rico, the Northern Mariana Islands, the U.S. Virgin Islands), and any non-government controlled areas of Ukraine.
This list may be updated periodically to accommodate changes in legal, regulatory, or other factors.
Note: There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise.
Thank you for your support!
Binance Team
2024-03-29
LIVEBinance Academy
--
What Is BNB Chain?
Key Takeaways
BNB Chain is a decentralized blockchain ecosystem focused on providing a robust infrastructure for the Web3 economy.
BNB Chain offers a diverse range of services, promoting decentralized data management, layer-2 scaling, and innovative solutions for the world of decentralized finance (DeFi).
This article explores BNB Chain’s transformative journey, from its origins in 2017 to the present, showcasing its ability to adapt and innovate.
Introduction
BNB Chain is a decentralized blockchain ecosystem focused on Web3 economy, infrastructure, and services. It offers a variety of advanced tools and features for users to explore the world of decentralized finance (DeFi) and for developers to build large-scale decentralized applications (DApps).
A Brief History of BNB Chain
BNB Chain (formerly Binance Chain) was created in 2019. At that point, the BNB utility token (created in 2017) migrated from the Ethereum network to become the native token of the BNB Chain. That early version of the BNB Chain is what we now call the BNB Beacon Chain.
In 2020, the BNB Smart Chain (BSC) – formerly Binance Smart Chain – was created as a new blockchain to run in parallel to the BNB Beacon Chain. BSC brought new features and more flexibility through the use of EVM-compatible smart contracts, leading to an explosive growth of DApps and services.
BNB Beacon Chain vs. BNB Smart Chain
In 2022, the BNB Beacon Chain and the BNB Smart Chain (BSC) were put together under the BNB Chain ecosystem. Still, the two chains continued to operate separately, serving different purposes.
BNB Beacon Chain: Governance layer, with staking and voting. It uses the BEP-2 token standard.
BNB Smart Chain (BSC): EVM-compatible layer with DApps, DeFi services, consensus layers, multi-chain support, and other Web3 applications. BSC uses BEP-20 as its main token standard.
Since then, the BNB Chain ecosystem has expanded to include more products, such as BNB Greenfield and opBNB layer-2 solution – more on these later.
Binance Does Not Own or Control BNB Chain
Binance does not possess control over BNB Chain, a fact that may be confusing to some due to the chain’s emergence after Binance Chain and Binance Smart Chain. Some mistakenly perceive BNB Chain as another Binance product, but the distinction lies in BNB Chain’s decentralized nature.
Binance’s centralized structure is focused on serving the Web3 world. While Binance introduced the original idea and remains a supporter, its vision for BNB Chain was for the network to be decentralized and independent. BNB Chain operates with a community-driven approach, allowing anyone to become a network validator through BNB stakes.
The BNB Chain Fusion
In December 2023, the BNB Chain team announced its plan to discontinue the BNB Beacon Chain, transferring its functionalities to the BNB Smart Chain network.
“[...] there's a strategic shift to migrate the Beacon Chain's functionalities to BSC and retire the Beacon Chain. This move aims to streamline the network, improve efficiency, reduce security risks, and align BNB Chain's architecture with the current technological demands and future growth.” – BNB Chain Blog.
The migration is expected to happen through multiple stages, starting in April 2024 and concluding in June of the same year. For more information, please refer to the BNB Chain Fusion roadmap.
By now, we hope you have a good understanding of how BNB Chain was created and where it’s headed. Next, we will explore how the BNB Chain works and some of its key products and features. Please note that the information provided is subject to change – especially after the upcoming BNB Chain Fusion.
BNB Chain Scaling Solution and Decentralized Storage
Since its inception, BNB Chain has expanded into a multi-chain framework that now includes a variety of services, such as opBNB (a layer-2 scaling solution) and BNB Greenfield (a decentralized storage chain).
opBNB
opBNB is a layer-2 scaling solution that leverages the Optimism OP Stack to enhance the BNB Smart Chain's performance. It provides high throughput, low transaction fees, and efficient transaction processing, making it suitable for large-scale Web3 applications.
Scalability: opBNB acts as a layer-2 scaling solution, offloading transaction processing and resource usage from the BNB Smart Chain. It provides scalability beyond layer-1 constraints, supporting over 4,000 transactions per second (TPS).
Gas efficiency: With average gas fees as low as $0.001, opBNB enhances the user experience by delivering high throughput and cost-effective transactions.
BNB Greenfield
The BNB Greenfield ecosystem consists of BNB Greenfield (a storage-oriented blockchain) and a decentralized network of Storage Providers (SPs).
The BNB Greenfield is a blockchain network layer built with the Cosmos/Tendermint infrastructure. Utilizing the Tendermint consensus mechanism, the Greenfield Blockchain ensures network security with a Proof of Stake approach. Validators play a crucial role in achieving consensus and participating in network governance.
SPs are infrastructures provided by organizations or individuals responsible for responding to user requests to upload and download data. SPs act as gatekeepers for user rights and authentications.
Users submit their data storage requests on Greenfield and Storage Providers (SPs) are responsible for maintaining the data off-chain. To ensure the integrity of their stored data, users can perform a Proof-of-Challenge verification on BNB Greenfield.
Developers can build DApps on the BNB Greenfield platform, connecting with BNB Chain and facilitating a foundation for a new data economy in the Web3 era.
Closing Thoughts
The BNB Chain has undergone a remarkable evolution since its inception in 2017, transforming from the early BNB Chain to a huge DeFi ecosystem that now includes thousands of services, products, DApps, and decentralized organizations. The BNB Chain stands as a powerful force in the Web3 world, offering users, developers, and enterprises a robust platform for innovation and growth.
Further Reading
What Is BNB Greenfield?
Connecting MetaMask to BNB Smart Chain
Tendermint Explained
5 Tips to Secure Your Cryptocurrency Holdings
Disclaimer: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Where the article is contributed by a third party contributor, please note that those views expressed belong to the third party contributor, and do not necessarily reflect those of Binance Academy. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. This material should not be construed as financial, legal or other professional advice. For more information, see our Terms of Use and Risk Warning.
BNB Chain is a decentralized blockchain ecosystem focused on providing a robust infrastructure for the Web3 economy.
BNB Chain offers a diverse range of services, promoting decentralized data management, layer-2 scaling, and innovative solutions for the world of decentralized finance (DeFi).
This article explores BNB Chain’s transformative journey, from its origins in 2017 to the present, showcasing its ability to adapt and innovate.
Introduction
BNB Chain is a decentralized blockchain ecosystem focused on Web3 economy, infrastructure, and services. It offers a variety of advanced tools and features for users to explore the world of decentralized finance (DeFi) and for developers to build large-scale decentralized applications (DApps).
A Brief History of BNB Chain
BNB Chain (formerly Binance Chain) was created in 2019. At that point, the BNB utility token (created in 2017) migrated from the Ethereum network to become the native token of the BNB Chain. That early version of the BNB Chain is what we now call the BNB Beacon Chain.
In 2020, the BNB Smart Chain (BSC) – formerly Binance Smart Chain – was created as a new blockchain to run in parallel to the BNB Beacon Chain. BSC brought new features and more flexibility through the use of EVM-compatible smart contracts, leading to an explosive growth of DApps and services.
BNB Beacon Chain vs. BNB Smart Chain
In 2022, the BNB Beacon Chain and the BNB Smart Chain (BSC) were put together under the BNB Chain ecosystem. Still, the two chains continued to operate separately, serving different purposes.
BNB Beacon Chain: Governance layer, with staking and voting. It uses the BEP-2 token standard.
BNB Smart Chain (BSC): EVM-compatible layer with DApps, DeFi services, consensus layers, multi-chain support, and other Web3 applications. BSC uses BEP-20 as its main token standard.
Since then, the BNB Chain ecosystem has expanded to include more products, such as BNB Greenfield and opBNB layer-2 solution – more on these later.
Binance Does Not Own or Control BNB Chain
Binance does not possess control over BNB Chain, a fact that may be confusing to some due to the chain’s emergence after Binance Chain and Binance Smart Chain. Some mistakenly perceive BNB Chain as another Binance product, but the distinction lies in BNB Chain’s decentralized nature.
Binance’s centralized structure is focused on serving the Web3 world. While Binance introduced the original idea and remains a supporter, its vision for BNB Chain was for the network to be decentralized and independent. BNB Chain operates with a community-driven approach, allowing anyone to become a network validator through BNB stakes.
The BNB Chain Fusion
In December 2023, the BNB Chain team announced its plan to discontinue the BNB Beacon Chain, transferring its functionalities to the BNB Smart Chain network.
“[...] there's a strategic shift to migrate the Beacon Chain's functionalities to BSC and retire the Beacon Chain. This move aims to streamline the network, improve efficiency, reduce security risks, and align BNB Chain's architecture with the current technological demands and future growth.” – BNB Chain Blog.
The migration is expected to happen through multiple stages, starting in April 2024 and concluding in June of the same year. For more information, please refer to the BNB Chain Fusion roadmap.
By now, we hope you have a good understanding of how BNB Chain was created and where it’s headed. Next, we will explore how the BNB Chain works and some of its key products and features. Please note that the information provided is subject to change – especially after the upcoming BNB Chain Fusion.
BNB Chain Scaling Solution and Decentralized Storage
Since its inception, BNB Chain has expanded into a multi-chain framework that now includes a variety of services, such as opBNB (a layer-2 scaling solution) and BNB Greenfield (a decentralized storage chain).
opBNB
opBNB is a layer-2 scaling solution that leverages the Optimism OP Stack to enhance the BNB Smart Chain's performance. It provides high throughput, low transaction fees, and efficient transaction processing, making it suitable for large-scale Web3 applications.
Scalability: opBNB acts as a layer-2 scaling solution, offloading transaction processing and resource usage from the BNB Smart Chain. It provides scalability beyond layer-1 constraints, supporting over 4,000 transactions per second (TPS).
Gas efficiency: With average gas fees as low as $0.001, opBNB enhances the user experience by delivering high throughput and cost-effective transactions.
BNB Greenfield
The BNB Greenfield ecosystem consists of BNB Greenfield (a storage-oriented blockchain) and a decentralized network of Storage Providers (SPs).
The BNB Greenfield is a blockchain network layer built with the Cosmos/Tendermint infrastructure. Utilizing the Tendermint consensus mechanism, the Greenfield Blockchain ensures network security with a Proof of Stake approach. Validators play a crucial role in achieving consensus and participating in network governance.
SPs are infrastructures provided by organizations or individuals responsible for responding to user requests to upload and download data. SPs act as gatekeepers for user rights and authentications.
Users submit their data storage requests on Greenfield and Storage Providers (SPs) are responsible for maintaining the data off-chain. To ensure the integrity of their stored data, users can perform a Proof-of-Challenge verification on BNB Greenfield.
Developers can build DApps on the BNB Greenfield platform, connecting with BNB Chain and facilitating a foundation for a new data economy in the Web3 era.
Closing Thoughts
The BNB Chain has undergone a remarkable evolution since its inception in 2017, transforming from the early BNB Chain to a huge DeFi ecosystem that now includes thousands of services, products, DApps, and decentralized organizations. The BNB Chain stands as a powerful force in the Web3 world, offering users, developers, and enterprises a robust platform for innovation and growth.
Further Reading
What Is BNB Greenfield?
Connecting MetaMask to BNB Smart Chain
Tendermint Explained
5 Tips to Secure Your Cryptocurrency Holdings
Disclaimer: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Where the article is contributed by a third party contributor, please note that those views expressed belong to the third party contributor, and do not necessarily reflect those of Binance Academy. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. This material should not be construed as financial, legal or other professional advice. For more information, see our Terms of Use and Risk Warning.
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@Ameer91
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@Ameer91
Quoted content has been removed
LIVEAmeer91
--
NFT Means??
Easy,Cheap,Reliable,
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I hope you like my thoughts and I will share more but when you appreciate.
Thanks
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#Write2Earrn
What do you think 🤔 about NFT.
NON Fungible Token.
Accordingly it's the best creativity or addition of success to the modern times,as nowadays the life train 🚆 is moving faster and faster as next moment to the hell.
Really?
Isn't it ?
So why wasting time to think think 🤔 and think....
So friends save your time by fulfill your dreams and explore your ideas through one click.
I hope you like my thoughts and I will share more but when you appreciate.
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#NFTDreams #Nft #Usdt_gift #BTCTo1Million
NFT Means?? Easy,Cheap,Reliable,
Hi @Ameer91
#Write2Earrn
What do you think 🤔 about NFT.
NON Fungible Token.
Accordingly it's the best creativity or addition of success to the modern times,as nowadays the life train 🚆 is moving faster and faster as next moment to the hell.
Really?
Isn't it ?
So why wasting time to think think 🤔 and think....
So friends save your time by fulfill your dreams and explore your ideas through one click.
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Thanks
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#NFTDreams #Nft #Usdt_gift #BTCTo1Million
#Write2Earrn
What do you think 🤔 about NFT.
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I hope you like my thoughts and I will share more but when you appreciate.
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#NFTDreams #Nft #Usdt_gift #BTCTo1Million
LIVECrypto Ninjaxx
--
Bullish
Don't Miss the ENA Genesis: Your Ticket to DeFi's Future
The future of finance is knocking, and it sounds a lot like... a synthetic dollar? Buckle up, DeFi enthusiasts, because the ENA Genesis on Binance Launchpool is your chance to be a pioneer in this revolutionary movement. Here's why you can't afford to miss out:
1. Be a Founding Farmer, Not Just Another Follower:
Forget FOMO (fear of missing out) – with ENA farming on Binance Launchpool, you get to be a FOGO (First One Growing Opportunity). Be among the very first to cultivate ENA tokens, the lifeblood of the Ethena protocol. This isn't just about early access – it's about shaping the future of DeFi from the ground floor.
2. Ditch the Banks, Embrace Stability:
Imagine a world where you can hold a stablecoin without relying on traditional financial institutions. Ethena's synthetic dollar aims to do exactly that, offering stability without the hassle. By joining the ENA Genesis, you're not just farming a token; you're supporting a paradigm shift in finance.
3. The Power is in Your Hands (Literally):
ENA isn't just another governance token. It grants you real voting rights within the Ethena protocol. This means you have a say in the project's development, shaping its features and functionalities. Talk about an investment with impact!
4. Earning Potential That'll Make You Blush:
Let's be honest, earning rewards is pretty darn sweet. With ENA farming on Binance Launchpool, you can stake your BNB or FUSD tokens and watch your ENA harvest grow exponentially. Early participation often translates to bigger rewards, so don't miss this golden opportunity.
5. Join the DeFi Revolution, One Seed at a Time:
The ENA Genesis is more than just a token launch; it's a chance to be part of something bigger. You're joining a community of forward-thinking individuals who believe in a decentralized future. Together, you'll cultivate a more accessible and inclusive financial landscape.
Ready to Plant the Seeds of Your DeFi Future?
#ENA #Memecoins #BullorBear #BinanceLaunchpool
The future of finance is knocking, and it sounds a lot like... a synthetic dollar? Buckle up, DeFi enthusiasts, because the ENA Genesis on Binance Launchpool is your chance to be a pioneer in this revolutionary movement. Here's why you can't afford to miss out:
1. Be a Founding Farmer, Not Just Another Follower:
Forget FOMO (fear of missing out) – with ENA farming on Binance Launchpool, you get to be a FOGO (First One Growing Opportunity). Be among the very first to cultivate ENA tokens, the lifeblood of the Ethena protocol. This isn't just about early access – it's about shaping the future of DeFi from the ground floor.
2. Ditch the Banks, Embrace Stability:
Imagine a world where you can hold a stablecoin without relying on traditional financial institutions. Ethena's synthetic dollar aims to do exactly that, offering stability without the hassle. By joining the ENA Genesis, you're not just farming a token; you're supporting a paradigm shift in finance.
3. The Power is in Your Hands (Literally):
ENA isn't just another governance token. It grants you real voting rights within the Ethena protocol. This means you have a say in the project's development, shaping its features and functionalities. Talk about an investment with impact!
4. Earning Potential That'll Make You Blush:
Let's be honest, earning rewards is pretty darn sweet. With ENA farming on Binance Launchpool, you can stake your BNB or FUSD tokens and watch your ENA harvest grow exponentially. Early participation often translates to bigger rewards, so don't miss this golden opportunity.
5. Join the DeFi Revolution, One Seed at a Time:
The ENA Genesis is more than just a token launch; it's a chance to be part of something bigger. You're joining a community of forward-thinking individuals who believe in a decentralized future. Together, you'll cultivate a more accessible and inclusive financial landscape.
Ready to Plant the Seeds of Your DeFi Future?
#ENA #Memecoins #BullorBear #BinanceLaunchpool
ENA is about to launch.
#BinanceLaunchpool
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#BinanceLaunchpool
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LIVECryptoVenom
--
The Biggest Merge In Crypto History: 🔥Superintelligence Alliance Token Merge $ASI🔥
Congratulations If you hold $FET or $OCEAN or AGXI this is All You Need To Know & how to SWAP or Automatically get your Super Token. Fetch.ai is joining forces with SingularityNET and Ocean Protocol to create the Superintelligence Alliance with the token ticker $ASI "Artificial Superintelligence." You can read the full story about the Superintelligence Alliance here.
This blog post will detail the changes that are taking place to our native cryptocurrency FET.
The Superintelligence Alliance will form through the union of three top decentralized AI companies, Fetch.ai, SingularityNET and Ocean Protocol. With increased activity on our platform, combined with a period of exponential growth for AI projects, the time is right to switch gears with our token too. As part of the union, there will be a token merge of FET, OCEAN and AGIX into a new ASI token. Let's dive in🥂
💥What is $ASI?💥
The most important thing to note is that FET is the reserve currency of The Superintelligence Alliance and will be changing its name to ASI, pending successful governance proposals.
Fetch.ai, SingularityNET and Ocean Protocol will shortly be submitting governance proposals to their respective communities and voting is expected to open on 2nd April. Fetch.ai will complete voting on 7th April with all proposals scheduled to complete voting by 16th April.
If approved, it will then be possible to swap FET for Artificial Superintelligence token at a rate of 1:1. For example, if you hold 100 FET then you will be able to swap it for 100 ASI.
As part of the new initiative, Ocean Protocol will convert OCEAN tokens into ASI and SingularityNET will convert AGIX tokens into ASI at a fixed exchange rate, detailed further down.
The ASI token (the renamed FET token) will have a new market capitalization based on the token merge. The combined value of the Superintelligence Alliance is expected to be around $7.5 Billion with 2.631 Billion tokens, and with FET as the benchmark currency, valued at $2.82 per FET at the time of writing.
Snapshot of the Projects
💡ASI Token Exchange Mechanism💡
Starting with FET as the base token of the Alliance, the FET token will be renamed $ASI, and an additional 1.48 Billion tokens will be minted, with 867 million $ASI allocated to AGXI holders and 611 million $ASI allocated to OCEAN token holders.
The total supply of ASI tokens will be 2.63 Billion tokens.
A snapshot taken on Monday, 25 March 2024 shows a summary of the Max Supply (#) and Fully Diluted Value ($):
Here is the calculation basis for the token minting to give a proportional share of new $ASI tokens to OCEAN and AGIX holders:
Token holders will receive 0.433226 ASI per OCEAN and 0.433350 ASI per AGIX. This exchange rate is fixed and will not change. We expect that smart arbitrageurs will notice if a price differential between the tokens arises, and then arb it out to maintain a balance and equilibrium in the exchange rate.
🟢 I am a FET holder, what action should I take?
FET holders don't need to do anything right now. With the announcement live, each Foundation will speak to business partners, answer questions from the community and start to plan the next steps.
The first priority is to execute the token merge. As mentioned, FET token will be the reserve currency of the Superintelligence Alliance and it will be renamed ASI --- 'Artificial Superintelligence.'
Holders of OCEAN and AGIX need not do anything right now. The exchange rate between FET/ASI and OCEAN and ASI and AGIX is fixed and the swap mechanism will remain open indefinitely, so users can choose to swap tokens at their leisure.
✨ FET Tokens on Exchanges
If you have OCEAN and AGIX tokens on an exchange, no action is needed. We will work with each exchange to ensure a smooth conversion and your holdings will automatically be converted to $ASI tokens directly by the exchange. You won't see OCEAN or AGIX on the exchange --- but don't panic! Your tokens are there, just look for the ASI symbol.
Don't Deposit OCEAN / AGIX tokens into Exchanges after they've Executed a Conversion When an exchange has converted all OCEAN and AGIX tokens, the tickers OCEAN and AGXI will be retired from the exchange. If anyone accidentally sends OCEAN or AGIX an exchange after the conversion event, we cannot guarantee that the tokens will be available or converted to ASI. So please keep abreast of notices and announcements from your exchanges.
If you hold OCEAN or AGIX outside of an exchange and want to convert them to $ASI tokens, please see the next paragraph.
⚡ OCEAN / AGIX Tokens in Hard Wallets or Offline
For those of you holding your tokens in hard wallets or offline, a token swap mechanism will be available in the coming weeks to allow holders to exchange their OCEAN and AGIX for ASI.
Once made available, this swap mechanism will be available indefinitely to allow long-term stakers to exchange their OCEAN and AGIX for ASI tokens when their tokens unlock, without any FX or exchange risk.
⏳Timing for the Token Swap Mechanism
The token swap contracts have been tested and audited but given the complexity of the coordination with hundreds of business partners, we'll complete a more detailed analysis, speak with partners & exchanges, and come back to the community with a firm date to release the token swap tool. Stay tuned to our official channels which you should access via links on our website.
🎯DEXes and Pool Liquidity
We encourage liquidity providers to remove any OCEAN and AGIX related liquidity from DEXs at their convenience. Users may experience higher slippage in pools with lower liquidity. We recommend that you size your swap according to the available liquidity to minimize slippage.
Once a threshold of 95% of the OCEAN and AGIX token supply is converted to ASI, Ocean Protocol and SingularityNET Foundations will remove any pool liquidity that we have provisioned.
🌿New Beginnings🌿
We hope you will continue to join us on this journey into AI. We are extremely excited to move forward as an Alliance and bring our combined knowledge and expertise to bear. All three companies have been working on different parts of the decentralized stack and by teaming up, the value-flow from deep research, to tools & applications, and finally to large-scale commercialization of data and AI services can be expedited.
📚 Source: FET Fetch.ai News Article.
🖋️ By @CryptoVenom
Follow & Like for MORE Exclusive News🥂
This blog post will detail the changes that are taking place to our native cryptocurrency FET.
The Superintelligence Alliance will form through the union of three top decentralized AI companies, Fetch.ai, SingularityNET and Ocean Protocol. With increased activity on our platform, combined with a period of exponential growth for AI projects, the time is right to switch gears with our token too. As part of the union, there will be a token merge of FET, OCEAN and AGIX into a new ASI token. Let's dive in🥂
💥What is $ASI?💥
The most important thing to note is that FET is the reserve currency of The Superintelligence Alliance and will be changing its name to ASI, pending successful governance proposals.
Fetch.ai, SingularityNET and Ocean Protocol will shortly be submitting governance proposals to their respective communities and voting is expected to open on 2nd April. Fetch.ai will complete voting on 7th April with all proposals scheduled to complete voting by 16th April.
If approved, it will then be possible to swap FET for Artificial Superintelligence token at a rate of 1:1. For example, if you hold 100 FET then you will be able to swap it for 100 ASI.
As part of the new initiative, Ocean Protocol will convert OCEAN tokens into ASI and SingularityNET will convert AGIX tokens into ASI at a fixed exchange rate, detailed further down.
The ASI token (the renamed FET token) will have a new market capitalization based on the token merge. The combined value of the Superintelligence Alliance is expected to be around $7.5 Billion with 2.631 Billion tokens, and with FET as the benchmark currency, valued at $2.82 per FET at the time of writing.
Snapshot of the Projects
💡ASI Token Exchange Mechanism💡
Starting with FET as the base token of the Alliance, the FET token will be renamed $ASI, and an additional 1.48 Billion tokens will be minted, with 867 million $ASI allocated to AGXI holders and 611 million $ASI allocated to OCEAN token holders.
The total supply of ASI tokens will be 2.63 Billion tokens.
A snapshot taken on Monday, 25 March 2024 shows a summary of the Max Supply (#) and Fully Diluted Value ($):
Here is the calculation basis for the token minting to give a proportional share of new $ASI tokens to OCEAN and AGIX holders:
Token holders will receive 0.433226 ASI per OCEAN and 0.433350 ASI per AGIX. This exchange rate is fixed and will not change. We expect that smart arbitrageurs will notice if a price differential between the tokens arises, and then arb it out to maintain a balance and equilibrium in the exchange rate.
🟢 I am a FET holder, what action should I take?
FET holders don't need to do anything right now. With the announcement live, each Foundation will speak to business partners, answer questions from the community and start to plan the next steps.
The first priority is to execute the token merge. As mentioned, FET token will be the reserve currency of the Superintelligence Alliance and it will be renamed ASI --- 'Artificial Superintelligence.'
Holders of OCEAN and AGIX need not do anything right now. The exchange rate between FET/ASI and OCEAN and ASI and AGIX is fixed and the swap mechanism will remain open indefinitely, so users can choose to swap tokens at their leisure.
✨ FET Tokens on Exchanges
If you have OCEAN and AGIX tokens on an exchange, no action is needed. We will work with each exchange to ensure a smooth conversion and your holdings will automatically be converted to $ASI tokens directly by the exchange. You won't see OCEAN or AGIX on the exchange --- but don't panic! Your tokens are there, just look for the ASI symbol.
Don't Deposit OCEAN / AGIX tokens into Exchanges after they've Executed a Conversion When an exchange has converted all OCEAN and AGIX tokens, the tickers OCEAN and AGXI will be retired from the exchange. If anyone accidentally sends OCEAN or AGIX an exchange after the conversion event, we cannot guarantee that the tokens will be available or converted to ASI. So please keep abreast of notices and announcements from your exchanges.
If you hold OCEAN or AGIX outside of an exchange and want to convert them to $ASI tokens, please see the next paragraph.
⚡ OCEAN / AGIX Tokens in Hard Wallets or Offline
For those of you holding your tokens in hard wallets or offline, a token swap mechanism will be available in the coming weeks to allow holders to exchange their OCEAN and AGIX for ASI.
Once made available, this swap mechanism will be available indefinitely to allow long-term stakers to exchange their OCEAN and AGIX for ASI tokens when their tokens unlock, without any FX or exchange risk.
⏳Timing for the Token Swap Mechanism
The token swap contracts have been tested and audited but given the complexity of the coordination with hundreds of business partners, we'll complete a more detailed analysis, speak with partners & exchanges, and come back to the community with a firm date to release the token swap tool. Stay tuned to our official channels which you should access via links on our website.
🎯DEXes and Pool Liquidity
We encourage liquidity providers to remove any OCEAN and AGIX related liquidity from DEXs at their convenience. Users may experience higher slippage in pools with lower liquidity. We recommend that you size your swap according to the available liquidity to minimize slippage.
Once a threshold of 95% of the OCEAN and AGIX token supply is converted to ASI, Ocean Protocol and SingularityNET Foundations will remove any pool liquidity that we have provisioned.
🌿New Beginnings🌿
We hope you will continue to join us on this journey into AI. We are extremely excited to move forward as an Alliance and bring our combined knowledge and expertise to bear. All three companies have been working on different parts of the decentralized stack and by teaming up, the value-flow from deep research, to tools & applications, and finally to large-scale commercialization of data and AI services can be expedited.
📚 Source: FET Fetch.ai News Article.
🖋️ By @CryptoVenom
Follow & Like for MORE Exclusive News🥂
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LIVEBinance Announcement
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Binance Futures Bonus Week — 50,000 USDT in Futures Bonus Vouchers to Be Given Away!
Binance is excited to launch a new promotion, where each new futures user who registers for the promotion and completes identity verification can receive a 5 USDT futures bonus voucher on a first-come, first-served basis, until all 50,000 USDT rewards are distributed!
Promotion Period: 2024-03-29 00:00 (UTC) to 2024-04-02 23:59 (UTC)
Register Now
Eligibility Criteria:
The promotion is applicable to:Users who have opened their futures accounts, but have neither traded futures nor made any deposits into their futures wallets prior to the start of the promotion.Users who activate their futures accounts during the Promotion Period. Eligible Users should click the Register Now button, and complete identity verification to participate.
Terms and Conditions
Only verified users from eligible regions who click "Register Now" on the promotion page during the Promotion Period may qualify for rewards from the promotion (“Eligible Users”).New futures users are defined as Binance users who have neither made a futures trade nor made a deposit to their futures wallets on Binance prior to the start of the promotion. For avoidance of doubt, this promotion is only available to Eligible Users who are enabled for Binance Futures services, and may not be available or may be restricted in certain jurisdictions or regions, or to certain users, depending on legal and regulatory requirements. All Eligible Users are responsible for informing themselves about and observing any restrictions and/or requirements imposed with respect to the access to and use of Binance Futures services in each country from which the services are accessed.Eligible Users will each get a futures bonus voucher worth 5 USDT on a first-come, first-served basis within three working days after the activity ends. Users will be able to log in and redeem their voucher rewards via Profile > Rewards Hub. Futures bonus vouchers will expire by 2024-04-07 23:59 (UTC). Learn how to redeem a voucher.Binance reserves the right to disqualify any participants showing any signs of fraudulent behavior immediately (e.g., wash trading, bulk account registrations, self dealing, market manipulation, and more).Binance reserves the right to determine and/or amend or vary these Terms & Conditions, its eligibility terms and criteria, the selection and number of winners, and the timing of any act to be done if it is justified due to important reasons, including but not limited to:Changes in applicable regulations or policies;Obligations arising out of law or decisions issued by common courts or public administration;Anti-money laundering or combating financing terrorism rules;Technical issues beyond our control;Necessity to protect users from potential losses; andNecessity to protect Binance from the loss of reputation.Additional promotion terms and conditions can be accessed here.There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise.
Thank you for your support!
Binance Team
2024-03-29
Promotion Period: 2024-03-29 00:00 (UTC) to 2024-04-02 23:59 (UTC)
Register Now
Eligibility Criteria:
The promotion is applicable to:Users who have opened their futures accounts, but have neither traded futures nor made any deposits into their futures wallets prior to the start of the promotion.Users who activate their futures accounts during the Promotion Period. Eligible Users should click the Register Now button, and complete identity verification to participate.
Terms and Conditions
Only verified users from eligible regions who click "Register Now" on the promotion page during the Promotion Period may qualify for rewards from the promotion (“Eligible Users”).New futures users are defined as Binance users who have neither made a futures trade nor made a deposit to their futures wallets on Binance prior to the start of the promotion. For avoidance of doubt, this promotion is only available to Eligible Users who are enabled for Binance Futures services, and may not be available or may be restricted in certain jurisdictions or regions, or to certain users, depending on legal and regulatory requirements. All Eligible Users are responsible for informing themselves about and observing any restrictions and/or requirements imposed with respect to the access to and use of Binance Futures services in each country from which the services are accessed.Eligible Users will each get a futures bonus voucher worth 5 USDT on a first-come, first-served basis within three working days after the activity ends. Users will be able to log in and redeem their voucher rewards via Profile > Rewards Hub. Futures bonus vouchers will expire by 2024-04-07 23:59 (UTC). Learn how to redeem a voucher.Binance reserves the right to disqualify any participants showing any signs of fraudulent behavior immediately (e.g., wash trading, bulk account registrations, self dealing, market manipulation, and more).Binance reserves the right to determine and/or amend or vary these Terms & Conditions, its eligibility terms and criteria, the selection and number of winners, and the timing of any act to be done if it is justified due to important reasons, including but not limited to:Changes in applicable regulations or policies;Obligations arising out of law or decisions issued by common courts or public administration;Anti-money laundering or combating financing terrorism rules;Technical issues beyond our control;Necessity to protect users from potential losses; andNecessity to protect Binance from the loss of reputation.Additional promotion terms and conditions can be accessed here.There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise.
Thank you for your support!
Binance Team
2024-03-29
Bullish or bearish
LIVECaptain09021
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Binance Co-Founder Changpeng Zhao Announces New Project
Binance co-founder and former CEO Changpeng Zhao announced a new project on Monday, which he said he’ll give more details soon. In a post on X, CZ says that a new project is coming, not a new token but an “Education project.”
There is no indication of what exactly the project will entail or if it will work on the Binance platform. Since Zhao has stepped down as CEO of the Binance company, it is quite possible he could be launching a new project to teach investors and cryptocurrency newbies about the market.
Since his ousting, CZ has also stayed off social media for the most part. He only recently posts on holidays such as International Women’s Day or Valentine’s Day. Hence, his message sharing a new project was met with a lot of attention in the crypto world. Many are speculating what the project will revolve around.
It’s unclear when Changpeng Zhao will reveal more details on his new project. It will be interesting to learn in the near future what the project is and who will be involved. Back in December, Zhao posted to X, saying, “Learning again by meeting founders.” Perhaps the new project will be in collaboration with founders of other prominent crypto companies/platforms.
#HotTrends
Binance co-founder and former CEO Changpeng Zhao announced a new project on Monday, which he said he’ll give more details soon. In a post on X, CZ says that a new project is coming, not a new token but an “Education project.”
There is no indication of what exactly the project will entail or if it will work on the Binance platform. Since Zhao has stepped down as CEO of the Binance company, it is quite possible he could be launching a new project to teach investors and cryptocurrency newbies about the market.
Since his ousting, CZ has also stayed off social media for the most part. He only recently posts on holidays such as International Women’s Day or Valentine’s Day. Hence, his message sharing a new project was met with a lot of attention in the crypto world. Many are speculating what the project will revolve around.
It’s unclear when Changpeng Zhao will reveal more details on his new project. It will be interesting to learn in the near future what the project is and who will be involved. Back in December, Zhao posted to X, saying, “Learning again by meeting founders.” Perhaps the new project will be in collaboration with founders of other prominent crypto companies/platforms.
#HotTrends
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