As Binance Chain continues to build momentum as a leading player in Defi space, the Binance Chain development team keeps building at a breakneck speed. With many successful projects launched in Binance Smart Chain as a tip of the iceberg, let’s take a look at other exciting highlights that happened in October!
Binance Chain Migration
Binance Chain has been running smoothly for more than one year. Its block height exceeds 126MM with more than 152MM transactions submitted by about 797 thousand addresses. We have a total of 257 BEP2 tokens on Binance Chain now. With a total of 153 trading pairs on Binance DEX, some of the newly listed tokens and their projects are hosting trading promotions and activities. Binance DEX closes in on 32 million USD trading volume on CoinMarketCap, CoinGecko in October.
Binance Smart Chain DEFI Ecosystem
Checkout CZ's AMA about Binance's future plan of Defi and Binance Smart Chain at Binance Summit: Blockchain Applied.
BUIDL Reward Program Updates
Binance officially launched the $100 million Binance Smart Chain (BSC) Accelerator Fund. Through this program, Binance will reward qualified developers equivalent to 30% of gas paid by triggering the registered contracts. A developer leaderboard is now available at binance.org/en/leaderboard. October rewards recipients should have received a total of 1059BNB. Read the announcement here.
Binance Bridge Updates
Support More Assets
Binance Panama Service is rebranded with a new name: Binance Bridge. ️It now supports more new assets: ZEC, COMP, MKR, TCT, IOTX, BEL, ELF, PAX, USDC, USDC and SPX. You can read the full announcement here.
To track the circulation of pegged tokens on Binance Chain and Binance Smart Chain, a new dashboard is available here.
Binance Bridge was launched at Oct. 14th. Even though this is still in its early stage, we have witnessed its increasing popularity. Last month, about 2,500 swaps were made with Binance Bridge. The swap volume was about 270BTC.
Binance Smart Chain is an innovative solution to bring programmability and interoperability to Binance Chain. Binance Smart Chain relies on a system of 21 validators with Proof of Staked Authority (PoSA) consensus that can support short block time and lower fees. The most staked validator candidates of will become validators and produce blocks. Last month, the total amount of staked BNB doubled and the sum of validator candidates increased to 28.
Validators and delegators will earn rewards from transaction fees, like dApp usages. The rewards will not be sent to validator right away, instead, they will be distributed and accumulated on a contract. The reward distribution happens on BC around every day UTC 00:00. You can use Binance extension wallet for staking. To learn more about the staking economics, please read this.
Binance Smart Chain Hackathon
Build for Bharat: DeFi-focused Hackathon and Acceleration Program, An initiative by Binance Chain
- Binance Extension Wallet
The below initiatives are from the community. As most of them are in the testing/Proof-of-concept stage, please be aware of the risks of funding loss and use your own judgment.