AMA news

'Ask Me Anything'; an online Q&A interview

World latest news

AMA with CZ Binance: Plans for Binance Futures, Smart Contracts and Visa Card

Coinspeaker AMA with CZ Binance: Plans for Binance Futures, Smart Contracts and Visa CardBecause it is Binance’s 2nd anniversary its CEO Changpeng Zhao decided to answer some questions in his, already traditional, fifth live ask-me-anything (AMA) session.Among others, CZ addressed the extension of their 25% trading fee discount, the team’s commitment of BNB allocations to the token burn, and other important topics across the Binance ecosystem.As said, Binance will continue to keep the 25% discount for using BNB to trade on Binance.com. According to the whitepaper, they should be reducing the discount from 25% to 12.5% on July 14. Zhao also said that the company wants to continue the 25% discount for at least another year. He mentioned that yesterday company released margin trading fully to everyone and over 10,000 signed up for margin accounts. He said:“So far, there’s more than $15 million borrowed for margin trading, so clearly there’s a very strong demand for that, and we’re happy to finally push the product out, and have more people use it.”Zhao also said that all team members will allocate 100% of 80 million BNB to the burn.“We’ve been discussing with all the Binance team members. And the unanimous decision by the Binance team is that they will not spend a penny from their ICO allocation of BNB, which is 80 million BNB. At the current rate, that’s currently worth US$2.4 billion. We’re not gonna cash that out, We’re gonna burn it all.”He also confirmed that the company is planning to begin public testing of the Binance Futures feature by the end of July, starting with a simulation market and in 10 to 20 days, they will make the testnet live.He spoke about increasing awareness of Binance DEX. Every month, they plan to select tokens on Binance Chain with high trading volumes to list on Binance.com. This should encourage the project teams to push Binance DEX into their communities and users, so they can get higher trading volumes on Binance DEX. Also, he added that eventually, they’re going to open-source Binance DEX without worrying about people copying them.Zhao also gave a small announcement saying that they will probably support smart contracts in the future. He said:“There are plans and architectures are being discussed, as well as different models we’re considering, but we haven’t decided on one architecture yet, whether it’s layer 2 or native, etc. It will likely be an Ethereum-compatible smart contract engine.”He added they are probably going to pick up the pace for Launchpad projects. Right now, it’s roughly one project every 40 days but he says given the number of good projects in the pipeline, there could be an increase to probably 5 projects over the next three months or so, but the exact numbers are still not exact.He also announced that Binance is in talks with other partners to provide a white-label, Binance VISA card and that they are actively looking into it.Asked about opening BAM (U.S. Binance platform) before the deadline, Zhao said that the exact schedule depends on their partner in the U.S., so he still doesn’t have detailed plans for that, but the plan is to serve U.S. users on that platform.On the question of when they will be adding security tokens, Zhao answered that he finds them “tricky”. He said:“Binance.com is a centralized exchange, and we tend not to overly focus on security tokens. We require project teams to seek. legal opinions on a project not being a security token. So we try not to step on other people’s toes, not to push boundaries there.”AMA with CZ Binance: Plans for Binance Futures, Smart Contracts and Visa Card
Coinspeaker
More news sources

AMA news by Finrazor

OPINION

Cardano CEO Gives Video Update

In his yesterday’s impromptu AMA, Charles Hoskinson, founder of Cardano (ADA), talks about the function of ADA tokens, the Cardano treasury, recent price drops, and a range of general topics.

Read more

Trending

Hot news

Hot world news

UK Finance Chief Ready to Engage with ‘Potentially Transformative’ Libra

The UK is studying the properties of Libra in-depth to prevent the digital currency from damaging the economy. This is what Philip Hammond, Chancellor of the Exchequer of the United Kingdom, said in a recent interview with CNBC’s Squawk Box. Hammond explained that regulators must fully understand how Libra works to counter the risks associated […] The post UK Finance Chief Ready to Engage with ‘Potentially Transformative’ Libra appeared first on CCN Markets
CCN

KOMODO Price Prediction: Long-term (KMD) Value Forecast – July 15

KMD/USD pair has moved in ranges of between $1.60 and $1.40 price lines with several failing attempts to move past the SMA indicator. The KMD/USD is now moving southwards to find a foundation towards a low trading point at $1.20 mark. KMD/USD Medium-term Trend – Bearish Resistance levels: $1.80, $2, $2.20 Support levels: $1, $0.80, […]
Bitcoin Exchange Guide

Tether (USDT) Accidentally Creates $5 Billion in Crypto

Stable coins, which are backed by fiat currency, have become an integral part of the crypto ecosystem over the past couple of years, and in that regard, Tether (USDT) is possibly the most well known. However, the very fact that it is backed by fiat makes it possible for it to be prone to certain errors, and that is exactly what happened yesterday when the team behind USDT made a mistake that had an effect on the wider crypto market for some time. Administrative Error In an astonishing development, the members at Tether transferred $5 billion ... ﾿ Read The Full Article On CryptoCurrencyNews.com Get latest cryptocurrency news on bitcoin, ethereum, initial coin offerings, ICOs, ethereum and all other cryptocurrencies. Learn How to trade on cryptocurrency exchanges. All content provided by Crypto Currency News is subject to our Terms Of Use and Disclaimer.
Crypto Currency News

ZILLIQA Price Prediction Today: Daily (ZIL) Value Forecast – July 15

• The short-term and medium-term outlook is in a downtrend. • Selling opportunities at the broken demand area may be considered. ZIL/USD Medium-term Trend: Bearish Supply zone: $0.02500, $0.02600, $0.027000 Demand zone: $0.01000, $0.00500, $0.00300 ZILUSD is in a downtrend in the medium-term. The bears' strong pressure broke the lower demand area of the rant […]
Bitcoin Exchange Guide
By continuing to browse, you agree to the use of cookies. Read Privacy Policy to know more or withdraw your consent.