Binance Integrates Web3 Wallet BNB Assets Into Launchpool Rewards
Highlights
- Binance includes decentralized BNB assets in Launchpool reward calculations, enhancing user earning potential.
- The update extends to Megadrop and HODLer airdrops, recognizing decentralized BNB assets.
- Future plans may include supporting a wider range of decentralized BNB assets, including those pledged for liquidity and from yield-generating protocols.
Binance, the world’s largest cryptocurrency exchange, has announced a significant expansion of its Launchpool reward system. This latest development bridges the gap between centralized and decentralized finance, offering users new opportunities to maximize their earnings.
Binance Expands Launchpool Rewards
Binance has announced a significant update to its Launchpool reward system. Starting with the next Launchpool event, the platform will include decentralized BNB assets held in their Web3 wallets in its reward calculations.
Under this new policy, users who hold supported decentralized BNB assets in their Web3 MPC (Multi-Party Computation) wallets will see these assets counted towards their total BNB holdings for Launchpool rewards. This move aims to provide more opportunities for users to earn rewards and participate in new token launches.
The integration extends beyond the Launchpool platform, with the exchange confirming that Megadrop and HODLer airdrops will also recognize decentralized BNB assets. This expansion signifies a growing embrace of decentralized finance (DeFi) principles within Binance’s ecosystem.
Looking ahead, they have indicated plans to potentially support a wider range of decentralized BNB assets. These may include BNB tokens pledged for liquidity in various protocols, liquidity provider tokens from decentralized exchanges (DEXs), interest-bearing tokens from lending platforms, and income tokens from yield-generating protocols.
Also Read: Tron’s Justin Sun Hints At Major Ethereum Selloff Amid ETF Outflows
SEC Seeks to Amend Complaint
In a joint status response filed in the US District Court for the District of Columbia on July 30, the SEC informed Binance and other defendants of its intention to amend its complaint. This amendment relates to third-party crypto asset securities, as previously filed in opposition to the exchange’s motion to dismiss.
The SEC’s move comes after a court order stating that BNB is not a security, and a minute order on July 9 declaring that BUSD secondary sales are not securities. In light of these developments, the SEC now asserts that there is no need for the court to issue a ruling to prove allegations on those crypto tokens at this time.
Also Read: Solana Based Sanctum Protocol Sounds Alarm On Compromised Website
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