Binance exchange is a behemoth in the crypto world. It has almost 30 million users and $76 billion in daily trade volume. That’s around the annual GDP of Guatemala traded across the platform every single day. These trades happen in many different cryptocurrencies, from BTC to BUSD to ETH.
Apart from its fantastic popularity among traders, Binance has expanded in the last few years to include investment, crowdfunding, academic research, and education functions. Let’s take a look at the main things you should know about the Binance ecosystem.
Binance Labs is the investment arm of the Binance ecosystem. The idea is that Binance will thrive and the decentralized web grows. So, Binance facilitates this growth by investing in talented technical teams that are currently building the decentralized web.
The focus is on finding decentralized projects that need funding to get off the ground. This can include entrepreneurs, decentralized communities, and startups. If it has a positive impact on the crypto world, it’s up for investment.
In three years, Binance Labs has funded over 180 projects from 25 countries. Some noteworthy projects include:
- Lifeform: Provider of visualization digital identity solutions.
- Magic Square: Decentralized multi-chain crypto app store.
- Merit Circle: DAO for play-to-earn games.
Any project can apply for Binance Labs on its official website.
Binance Launchpad is a platform for staging ICOs. It leverages Binance’s reach, community, and crypto expertise to make the launches more successful for users and project developers.
Users get access to early-stage ICOs that they may not have known about before. These projects are pre-vetted by the Binance Launchpad team, so they are more likely to be legitimate. The criteria include:
- Project maturity
- Readiness for large-scale adoption
- Capable team
- Potential benefit to the broader crypto community.
Some recent Binance Launchpad token launches include:
- The Sandbox: An Ethereum-hosted virtual world where players can monetize their gaming
- Axie Infinity: Ethereum NFT-based online game
- WazirX: India’s largest crypto exchange
With the help of Binance Launchpad, projects get more awareness and faster adoption. This is crucial when launching an ICO because if momentum slows, an otherwise great project can fail.
Binance Research is focused on “institutional-grade” research. The research is officially committed to being objective, independent, unbiased, and openly available to all in the digital asset industry.
The idea behind the project is similar to Binance Labs. If the crypto industry can thrive as a whole, then the Binance ecosystem will too. So, it’s worth the investment from Binance’s point of view and is not pure selfless charity.
Here are some of the research topics released so far:
- Tokenomics deep dive
- Yearly crypto industry reports
- Algorithmic stablecoins
- How central bank policies will impact the crypto market
- Annual crypto-correlations review
All reports and analytical data are open to the public on the official website.
As have many exchange platforms in the last few years, Binance has its own educational arm. It is also focused on being open access for all those in the crypto industry. The content is a blend of text and video. The Binance Academy YouTube channel has more than 131K subscribers and over 100 videos mostly 2-5 minutes in length.
A variety of topics are covered, including the use of stop limit and stop loss, building a well-balanced portfolio, principles of blockchain work, etc.
Binance has grown into a major crypto hub and community with investment, research, and education projects all pushing the crypto world forward. Each of these projects is worth following if you’re interested in what they publish. Binance does not offer full anonymity for its crypto transactions. If this is what you need, somewhere like Godex may be a good option.
Overall, Binance is much more than just an exchange platform. It is in a fantastic position to continue driving the crypto community forward and giving value to its users.