ADVERTISEMENT
Press release content from KISSPR. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from KISSPR
Press release content from KISSPR. The AP news staff was not involved in its creation.

How will Binance reform in the next - SheepDex

November 16, 2021 GMT
How will Binance reform in the next - SheepDex
How will Binance reform in the next - SheepDex
How will Binance reform in the next - SheepDex

11/16/2021, New York, NY // KISS PR Brand Story PressWire //

According to the official announcement, Binance has completed the 17th quarter burn of native (BNB) token. As specified their product roadmap, the exchange commits to use XNUMX% of its quarterly profits on burning some of the tokens.

More than 1.3 million BNB, or the equivalent of more than $639 million were removed in the this quarterly burn.

Binance also plans to propose the new Binance Evolution Protocol, BEP-95, which introduces a real-time burning mechanism into the economic model of Binance Smart Chain (BSC). The abstract behind this BEP is to speed up the burning process of BNB and make BSC more decentralized, as part of the gas fee will be burned. The BEP-95 burn is solely dependent on the activity on the BSC network, and it will continue functioning (decreasing BNB supply), even after the scheduled BNB burns by Binance.com reach the target supply of 100M BNB in circulation. Cryptocurrency deflation mainly involves token burn by removing a specific amount of these tokens to an inaccessible address from circulation. This burning mechanism would further reduce token supply; thus, increasing demand would drive the token value higher.

ADVERTISEMENT

Binance Launches $1 Billion Fund for BNB Ecosystem

Cryptocurrency exchange Binance has launched a $1 billion crypto growth fund in support the Finance Smart Chain blockchain, with the goal of helping to accelerate the adoption of digital assets and blockchain technology.

About half of the funds will be directed toward investments in areas such as gaming, virtual reality and blockchain-based financial services, according to a statement from Binance. Of the remainder, about $300 million will go to a builder program and $100 million each will be steered toward liquidity incentives and talent development.

Binance. US Could Go Public in 3 Years, CEO CZ Says

Changpeng Zhao, CZ, CEO of one of the world’s largest exchanges, Binance, says its U.S. affiliate is eyeing an initial public offering within three years. CZ said “Binance.US is just going to do what Coinbase did”. Coinbase, the most popular exchange in the U. S., already held its direct listing on the Nasdaq in April.

Binance.US is also eyeing the completion of a large private funding round within the next two months that would see the exchange’s CEO reduce control of the U.S. affiliate’s board, according to the report. According to CZ, Binance generated between $800 million to $1 billion in profit in 2020.

The move would deeply legitimize the exchange, serve as a roadmap to regulatory compliance, bolster BNB – the exchange’s native token – and make investors a lot of money.

Binance Smart Chain Opportunity: V3

ADVERTISEMENT

Uniswap v3, or v3, is one of the largest decentralized cryptocurrency exchanges by transaction volume, and a leader among decentralized exchanges. V2 employs a automated market maker (AMM), the underlying protocol that powers all decentralized exchanges (DEXs). And v3 has introduced the innovative Concentrated Liquidity features, such as range order, multiple fee tiers. While this had a huge impact on Ethereum, it’s not friendly to the average users in terms of high gas fees.

SheepDex ( https://sheepdex.org/ ) is the only DEX other than Uniswap that has been able to develop the same technology and bring v3 Concentrated Liquidity to the BSC. So concentrated liquidity is also available on BSC. On traditional DEXs, liquidity is evenly distributed from zero to infinity. However, SheepDex allows liquidity providers (LPs) to provide liquidity within a smaller customizable price range. By concentrating the liquidity in a relatively narrow range, trading slippage would be greatly reduced. Even Pancakeswap, a DEX with a TVL of $14B, isn’t a good choice to accommodate bulk trades as trading slippage reduces. So with a much lower slippage on SheepDex, we will be able to see more and more bulk trades on DEXs.

SheepDex also offers transaction fee refunds, yield farming and transaction rewards, which will incentivize users to provide liquidity into the range where they see most transactions and improve capital efficiency. So on SheepDex, smaller LPs are able to make the most out of v3. Moreover, range orders will also provide LPs with more market-making options, and traders can buy or sell assets at expected prices.

SheepDex improves capital efficiency hundreds of times. It’s not just a number, we’ll see more liquidity being fully utilized to incentivize more transactions for financial products. We also believe this will have a significant impact on the future for BSC and DEXs. A new era is coming!

So the recent news see BNB’s healthy and fast growing.

Contact:

SheepDex
business@sheepdex.com
NY, USA


The information provided in this release is not investment advice, financial advice or trading advice. It is recommended that you practice due diligence (including consultation with a professional financial advisor before investing or trading securities and cryptocurrency).



Source: Story.KISSPR.com



Release ID: 56550


There is no offer to sell, no solicitation of an offer to buy, and no recommendation of any security or any other product or service in this article. Moreover, nothing contained in this PR should be construed as a recommendation to buy, sell, or hold any investment or security, or to engage in any investment strategy or transaction. It is your responsibility to determine whether any investment, investment strategy, security, or related transaction is appropriate for you based on your investment objectives, financial circumstances, and risk tolerance. Consult your business advisor, attorney, or tax advisor regarding your specific business, legal, or tax situation.