The story of the rise of Binance to the top of the cryptocurrency market is well-known, documented and admirable. The exchange barely turned three years old, but it largely determines the mood of cryptocurrency users.
Led by the tireless Changpen Zhao, Binance has become much more than just an exchange offering regular services – it has become a significant player in several different sectors of the vast blockchain and cryptocurrency market – and continues to expand.
This week, Binance announced the Binance X Developer Support Program, a developer-centric innovation promotion platform. This happened just a few days after the launch of the Binance Lending lending platform, which will allow users to “earn crypto while they sleep.” Binance customers – holders of Binance Coin (BNB), Ethereum classic (ETC) and Tether (USDT) – will now be able to receive interest on cryptocurrency stored on the exchange.
Do not forget about the truly revolutionary Binance token, on which this success largely depended. BNB was a significant part of why Binance succeeded in such a short time.
During the video podcast, Zhao explained how, thanks to BNB, the Binance brand began to represent the ecosystem, not just a cryptocurrency exchange.
In our case, it should be borne in mind that there is a BNB token, which is a utilitarian token with more than 100 applications. It seems that the last time we counted 112. So we are not talking only about the growth of the value of the company. It is about increasing the value of the ecosystem.
“Thus, the more people use BNB, the higher the cost of BNB. This is beneficial to everyone involved. Not only members of our team, but also our “angels” who do not get paid. Members of our community, our investors. It really adds value to the ecosystem. ”
Indeed, Binance can offer its own solution for almost any need in the market, despite the fact that proponents of decentralization look at the company with caution. In addition, a good reputation speaks for itself – no matter what nasty things leak into the press, Binance always copes with problems efficiently and without panic. Thus, the presence of such a company in this young market can be a good example necessary for the further distribution of cryptocurrencies and the growth of the industry.