When it comes to Binance Square, everyone should be familiar with it. Even if you haven't heard of the name, you must have used it. Because the entrance to Binance Square is right on the Binance homepage, users can easily enter by scrolling down. The various articles and information you see on the discovery page are actually content published by square creators.
Next, this article will analyze several reasons why everyone should use Binance Square more.
1. The importance of the square: Why create a square?💪
2. The positioning of the square and speculation on existing/subsequent functions👻
3. Different user types in the square and recommendations for top accounts👀
4. How users can benefit from the square🤑
1. The importance of the square💪
Binance has placed the square as an important entry point below the homepage, which is enough to prove the position of the square in the Binance ecosystem. It is not just an information release area, but also the core strategy for Binance to build private domain traffic and settle community value. Boldly speculating, the square section will likely become an important support for Binance as a leading exchange in the future!
Why does Binance want to create a square?
Meeting the communication needs of cryptocurrency users
Users in the cryptocurrency space need a trustworthy and open platform to share information and exchange experiences, and the square just meets this demand.
Building a unique community moat
The square adopts the UGC (User Generated Content) model, where a content ecosystem jointly built by users helps to form a unique community barrier, making it difficult for other platforms to replicate.
Establishing long-term accumulative private domain traffic
The accumulation of private domain traffic in the square provides a long-term conversion tool for Binance to expand its business and lays a solid foundation for future development.
2. The positioning of the square and speculation on existing/subsequent functions👻
For any user, information acquisition is extremely important. In addition to the necessary trading tools CEX and DEX, social interaction platforms are also places that everyone frequently browses and communicates! Before the emergence of Binance Square, cryptocurrency users usually had the following channels to obtain information:
Top information platforms: such as CoinMarketCap (CMC) and various financial information websites, providing authoritative market information.
Social media: Platforms like Twitter, Telegram, WeChat, and QQ gather the cryptocurrency community, but the information is complicated and scattered.
Real-time interaction platform: Tools like Tencent Meeting for live broadcasts, meetings, etc., used for project parties' AMAs, community interactions, etc.
2.1 Positioning of Binance Square
The emergence of the square may signify an integrated upgrade in acquiring cryptocurrency information and social interaction, providing an opportunity for everyone to achieve all needed functions using just one platform. It has built a multifunctional interactive platform for the cryptocurrency industry, capable of meeting users' needs from information acquisition to deep social interaction. Its core positioning includes at least the following aspects:
One-stop cryptocurrency information and social interaction platform
User Generated Content Platform (UGC)
Private domain traffic pool and user conversion engine
Knowledge sharing and user growth platform
2.2 Existing functions of the square
Currently, the square covers various functions and can meet users' diverse needs from information acquisition to interactive communication.
Discovery: Collects the latest market information, quality content, and hot topics, helping users quickly acquire industry dynamics.
Follow and communicate: Various information published and shared by other users, allowing users to interact through following/liking/commenting, enhancing the community atmosphere.
Announcement: Important information released by Binance official, including new features/token launches, platform maintenance, event announcements, etc., ensuring users stay updated with platform dynamics.
News: Provides real-time information on the global cryptocurrency market, such as policy changes, project progress, and market trends, allowing users to stay updated on the latest market conditions.
Binance Academy: The academy section provides users with systematic cryptocurrency knowledge tutorials, from basic entry to advanced strategy analysis, helping users gradually improve their investment skills.
Live streaming (AMA): The live streaming section of the square provides real-time interaction with industry experts and project parties, helping users deepen their understanding of the market and enhance their knowledge level.
Hidden features:
Video sharing: Users can publish short videos to vividly showcase market views and strategies.
Sign-in: Daily sign-ins accumulate points, which can be redeemed for benefits.
Follow and socialize: Users can follow their favorite creators and create a social relationship chain.
Profile: Users can modify their nickname and introduction on their personal homepage to showcase their style.
Chat room: Provides group chat functionality for instant discussions, allowing users to exchange views and strategies in real time.
2.3 Subsequent function speculations for the square
To further enhance user experience, Binance Square may continue to optimize existing features and add new functions in the future, making it a one-stop platform similar to 'information + Twitter + WeChat + Tencent Meeting'. Here are some possible subsequent function speculations:
Intelligent content recommendation system
Based on users' browsing preferences, follow records, and other data, personalized content recommendations for users.
Themed communities and diversified social networks
The square may launch themed communities based on interests and projects, allowing users to join specific communities (such as DeFi, NFT, etc.) to find like-minded users and enhance community belonging.
User live interaction and rewards
The live streaming feature that has already been opened in the square allows KOL users to communicate with fans through live broadcasts. In the future, it may add real-time market interpretation, live demonstrations, Q&A, and other activities to enhance the practicality and diversity of live broadcasts.
Task system and points incentive
In the future, a task system may be introduced, launching more types of tasks and reward mechanisms, such as daily tasks, weekly challenges, and achievement systems.
Creator revenue sharing mechanism and fan subscriptions
Introducing creator revenue sharing and fan subscription features, high-quality creators can enable 'fan subscriptions', and fans can enjoy exclusive content or market analysis after paying for subscriptions, with creators earning a share from the subscription fees.
Creator revenue and multidimensional reward mechanisms
In addition to sign-in points and content mining, the square may add reward mechanisms based on content likes, comments, views, etc., to attract quality creators to contribute content and improve the UGC ecosystem.
Creator growth center and training programs
Providing creators with a growth center, joining exclusive training programs, content planning guidelines, etc., to help novice creators grow into quality content producers.
Personalized user homepage and achievement showcase
User homepages may add features to showcase achievements, badges, etc., allowing users to display personal style and growth, enhancing interactive enthusiasm.
2.4 Future Outlook: A collection that meets all user needs
With the support of these features, the square is expected to become a one-stop platform for cryptocurrency users, integrating information, socialization, learning, and interaction, achieving a true experience integration of 'information + Twitter + WeChat + Tencent Meeting'! Watch the full version@Van社长 