According to a Binance blog post, the Gas-Free Carnival is all about using stablecoins on the BNB Chain. From now until the event ends, users can withdraw USDT, USDC, and FDUSD without paying any fees (originally $0.1 and $0.2). However, users must have a minimum withdrawal threshold of $20 or more.
This offer applies to transactions on both the BNB Smart Chain (BSC) and the opBNB Chain. By removing these costs, Binance hopes to attract more people to use the BNB Chain.
How can users benefit?
To get the most out of their assets, users who hold stablecoins on centralized exchanges like Bitget, Gate.io, and MEXC can take advantage of this offer, provided the minimum withdrawal is between $10 and $20.
Additionally, users who verify wallets like Bitget Wallet and SafePal will get help with gas fees. Additionally, BNB Chain has partnered with Celer cBridge, a decentralized, non-custodial asset bridge, to enable users to transfer stablecoins to BNB Chain from other blockchains without paying gas fees.
Users will receive full compensation in USD for their gas expenditures, making it easier for them to participate in high-yield products and decentralized finance (DeFi) activities. Furthermore, users can also participate in other opportunities, such as liquidity provision and staking.
Users can also explore other activities across popular protocols like Aave, PancakeSwap, and Venus to increase their rewards.
BNB Price Performance and Market Sentiment
Currently, BNB is trading at $596 after seeing a slight decline of 1.4%, after peaking at $612. The total trading volume has also seen a decline of almost 12%, but many believe that the gas-free carnival could help revive BNBâs price.
With the removal of gas fees, BNB may see more trading activity and higher demand. If this continues, it may lead to an increase in the price of the cryptocurrency.
