Despite the market downtrend, Binance’s team has forged ahead to ensure that its consumers are having a fine practice using the exchange.
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Binance Supports Three EOS AirDrops
Airdrops have historically bot a touchy subject for cryptocurrency exchanges, spil claiming airdrop tokens can often require exchanges to give up some wallet security. Spil well, logistically setting up the support for airdrops may not be worth the time for some exchanges, spil exchanges do not directly benefit from this process.
However, Binance has taken the initiative to support three airdrops from the recently launched EOS mainnet, pleasing many users te the process.
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For the time being, Binance will only be supporting the IQ, DAC and EON airdrops, three of the most extraordinario projects launched on the EOS blockchain. EON withdrawals have just opened, permitting for users to budge their airdropped EON to their private EOS wallets.
However, Some users took this announcement the wrong way. A blog postbode made it clear that support for thesis cryptocurrencies will only consist of withdrawal support and not trading, telling:
For trading and listing of thesis airdropped tokens on Binance, each project will go through the same stringent listing review process spil Binance does for any other coin/token. The default position wij have is no listing.
Despite the misunderstanding, the announcement wasgoed still well received by the community, with many users providing their thanks to Binance for accepting thesis airdrops. Airdrops essentially provide users with free cryptocurrencies, which can rack up value quickly.
Binance has yet to open up withdrawals for EOS mainnet tokens, weird considering that EON token withdrawals are now available. But it has become apparent that the exchange will proceed to support the EOS mainnet, by continually supporting airdrops launched ter the future.
Community Coin Of The Month Is Back
Binance has announced that they will be reinstating the community coin of the month, which permitted for users to vote and propose coins/tokens they think should be added to an expansive lineup.
It has bot overheen Trio months since the last community vote, so witnessing this feature reimplemented has given users another reason to use the already superb exchange. The community vote has historically bot a topic of rente for the Binance community, with users coming out en-masse to vote for their beloved projects.
The cryptocurrency nominees for this month are spil goes after:
Voting embarked around three days ago, with there being twos remaining days for users to vote.
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Users are required to impart with 0.1 BNB ter order to choose a candidate for a potential listing. Merienda the voting finishes on June 19th, votes will then be weighted on the amount of BNB the voter possesses. For example, a user with 100 tokens will have a voting power of 100, while a user with Ten tokens will have 10% of the voting power of 100 tokens. However, the limit for the ‘Final Multiple’, spil Binance likes to call it, will be 500 tokens, to ensure that risk of vote manipulation is minimized.
Merienda the voting period has elapsed, Binance’s team will verify that all votes are legitimate before listing the coin that wasgoed chosen by the community.
A blog postbode stated:
Upon completion of the voting process, Binance will list the coin on our exchange within a reasonable time framework.
Having a listing on a large exchange can often draw the eyes of many investors, and permits for an unprecedented level of adoption for many smaller altcoins. This is why communities and projects do their best to attain that coveted listing spot on exchanges like Binance.
Binance is one of the only exchanges that has implemented a ‘community coin’ feature, drawing a multitude of users to personages their vote on the exchange. Some users of the exchange have said that the community vote is what keeps them coming back, so it makes sense why this feature wasgoed reimplemented.
Binance has continually proven itself to be one of the most reliable and successful exchanges, with thesis latest announcements only improving community sentiment.