Binance Reveals New Defi Entrants On BinanceSmartChain

Published September 24, 2020 | Updated September 24, 2020

Binance Reveals New Defi Entrants On BinanceSmartChain

Cryptocurrency exchange Binance has just announced the listing of BakeryToken [BAKE] and Burger Swap [BURGER] in its Innovation Zone. Traders can trade in BAKE/BNB and BURGER/BNB trading pairs starting from 24th September at 11:00 AM [UTC].

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Earlier, announcing the same, Binance tweeted,

This happens to be the second listing announcements of the Malta-based cryptocurrency exchange in its all-new Innovation Zone. This zone essentially allows only selected users to trade new decentralized finance [DeFi] tokens and was created to filter out traders based on their risk appetite.

Binance Innovation Zone Adds Defi Projects

New-projects offering food-based governance tokens in exchange for liquidity mining are popping every other day. But one thing that the rise [and fall of] of Sushiswap taught the community is not to jump to every popular venue without proper research even if it promises better results than the original one despite getting listed on prominent platforms.

These projects are new and risky and hence require traders to their own research. On a similar note, Binance’s CEO and co-founder, CZ had earlier penned down a blog post asserting that, while avoiding scams and malicious projects was important, it also needs to list popular crypto assets in order to stay competitive and this is why the Innovation Zone was created so that the platform can continue listing tokens associated with decentralized finance projects on it.

CZ had further stated,

“By forming the Innovation Zone, we can provide our users with a safer space for accessing newer tokens that will likely have higher volatility than other tokens. This way, we are able to prevent more untoward scenarios for our users who just want to access certain projects.”

Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Ketaki Dixit 94 Articles
Experienced writer and editor with a demonstrated history of working in the industry. Skilled in Copywriting, Web Content Writing, Copy Editing, Writing, Cryptocurrency News Writing, and News Editing.
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