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Binance launches an array of features pushing the boundaries of innovation

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Innovation is an ever-present phenomenon at the very core of the crypto space that drives the industry leaps and bounds to enable cryptocurrencies to reach the masses. From advanced technological adoptions to offering new user perspectives, every aspect of the crypto industry constantly evolves to meet the expanding needs of crypto users.

Being at the forefront of such an ever-evolving space, platforms have to go beyond and push the boundaries of innovation to be the industry leader. Binance, the largest cryptocurrency and blockchain technology infrastructure provider, understands what it means to be the industry leader rather than simply being the largest player in the crypto space. The platform recognizes the myriad of responsibilities that are inherent in the former and is finding new ways to push the industry forward.

Even as the market is gripped by a slump that is tearing down platforms and impeding the development of the crypto ecosystem, Binance doesn’t seem to be affected by any of it. Last month, Binance brought together the brightest minds in Web3 and launched an incredible breadth of new products with over fifty new updates and features going live, all while keeping users at the heart of everything they do.

Brand New Product Innovations

Binance kicked off the inaugural Binance Blockchain Week Paris, a three-day event showcasing the finest of Web3, and expanded its ever-growing range of products, including a more user-friendly approach to generating crypto passive income. Concurrently, the platform has continued to push product innovation by launching a variety of new products and updating several features:

The Binance Gift Card Marketplace: The Binance Gift Card Marketplace brings utility and extra fun with exclusive activities and three new types of crypto gift cards:

  • Fixed denomination
  • Cashback
  • Mystery 

Fixed-denomination gift cards provide a more intuitive purchase experience, allowing users to purchase cards loaded with set amounts of supported cryptocurrencies without needing to convert beforehand manually.

Mystery and Cashback gift cards, on the other hand, grant users access to limited-time activities for a chance to take home their share of crypto prizes. Last month, the platform gave away $33,000 in MC and DEGO rewards.

Simple Earn: The platform has revamped some of the most popular Binance Earn products, combining Flexible Savings, Locked Savings, and Locked Staking into a one-stop platform called Simple Earn

As the name suggests, Simple Earn simplifies the crypto subscription process and offers a direct experience for digital asset incentives. With one click, users can subscribe their favorite assets to a flexible plan, which allows them to redeem anytime, or a locked plan, which grants higher rewards for fixed-time subscriptions.

Binance Labs Enhancing Web3 Infrastructure: Binance Labs invested in six projects, including the layer-1 blockchain Aptos, the blockchain security firm Salus Security, the Web3 infrastructure provider Mysten Labs, the name service network Space ID, and the blockchain data business Bitquery.

Binance Labs, the official incubator and venture capital arm of Binance, keeps track of emerging Web3 initiatives and supports them by providing them with the resources they need to flourish.

BUSD launches on Avalanche and Polygon: BUSD is now supported by the Avalanche and Polygon networks, giving users a quick and secure means to move the regulated, 1:1 USD-backed stablecoin between platforms.BUSD is also available on Ethereum, BNB Smart Chain, and BNB Beacon Chain.

Binance ID: Binance ID enables users to register and log in to third-party sites using their Binance account, just like with Google, Apple, and Facebook login. Also, none of the third-party platforms that support Binance ID are owned by Binance, nor are they connected to it.

Updating the Binance App

More trading tools: The platform has included tools like the Daily Percentage Change, Token Info and Funding History, 1-second K-line charts, and a Favourites coin list visible on the homepage. With these added features, users can now review price changes down to the second in local timezones while tracking the performance history of their preferred tokens.

Revamping Binance Options: Binance recently launched their revamped Binance Options trading platform on the Binance app. Retail traders can now hedge their portfolios or express their views of the market via European-style option contracts on a clean, intuitive user interface. For users unfamiliar with options trading, the platform offers a complete guide for more information.

The Discover Feed: The platform has redesigned the Binance Pro mode homepage to make content discovery effortless. Users will now see a Discover content feed at the bottom of the homepage on the Pro version of the Binance app. 

The new Discover feed displays a range of content as it goes live, connecting users to the latest news, events, and insights around Web3. As users explore the Discover feed, the app’s system automatically recommends content based on what the user clicks on and reads.

The Discover feed will connect Binance users to the world of Web3 in real time by offering the latest news on the crypto economy, trending topics among the community, and insightful articles on over 400 topics related to crypto and blockchain.

Book Crypto-Air Tickets: The platform partnered with Crypto Air Tickets, allowing users to reserve and pay for flight tickets with just a few taps on the Binance app using the crypto balance in their wallet. 

The Crypto Air Tickets mini app offers over 1,000 airlines and 9,000 locations to select from and is the simplest method to book plane tickets using cryptocurrency. Users can simply choose a destination and relevant offer, then pay for the ticket using the HODL-ed funds with Binance Pay.

Building utility for the crypto community and beyond

The values inherent in Binance have remained unchanged despite the negative market sentiment as the platform continues building for its users and the larger digital asset space. Binance has always been a standard exchange with innovative business models designed to build new functionalities for the benefit of users. 

The platform strives to push the frontiers of the crypto ecosystem by frequently deploying innovations that can provide more utility for the crypto community thus reshaping the perspective of crypto users from around the globe.

For more information about the platform, please check out their official website.

Disclaimer: This is a paid post and should not be treated as news/advice. 

 

Jacob is a sponsored content writer at AMBcrypto whose interest lies in blockchain technology and its impact on the changing global economy.

Disclaimer: AMBCrypto's content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.