Trying to predict which new cryptocurrency is going to explode is a near-impossible job due to the versatility of the market. However, if users can be given insights into early-stage projects, they may have a better idea of what they want to invest in before the hype takes over. Looking to facilitate this, Binance, the ecosystem behind the Binance cryptocurrency exchange, has launched Binance Alpha.
Binance Alpha is a platform within Binance Wallet (previously known as Binance Web3 Wallet), featuring tokens that may be considered for listings on the Binance Exchange in the future. The decision process to decide which projects to show is undertaken using Binance’s insights, which in turn spotlight those that demonstrate strong community interest, growing traction and alignment with key trends shaping the crypto ecosystem.
Binance Alpha is also intended to provide users with valuable insights into promising projects. It is designed to help users deepen their understanding of the web3 landscape and its potential to shape the future of blockchain technology.
Winson Liu, global lead of Binance Wallet said: “Binance Alpha serves as a pre-listing token selection pool, designed to enhance transparency in the process of token consideration for Binance Exchange listings. By publicly highlighting a curated selection of early-stage projects, Binance Alpha fosters community trust, offering users insights into tokens with potential for future growth within the Binance ecosystem.”
Getting an early foot in
Announcements about upcoming tokens on Binance Alpha will be shared on Binance Wallet’s and Binance’s official social channels before their launch. A countdown clock and chain details will appear on the Binance Wallet’s Markets tab. Tokens will go live in batches for a 24-hour showcase period, during which users can explore project details and purchase tokens using the ‘Quick Buy’ feature.
After the spotlight ends, featured tokens will remain in the same Alpha section in the Markets tab, where users can continue to track and trade.
The Quick Buy feature enhances the trading experience by optimising the existing Swap functionality within Binance Wallet. This innovation enables faster and more seamless transactions, offering a higher success rate and better prices compared to other decentralized exchanges (DEXes) or trading bots.
Key improvements include automatic selection of the native chain’s token and default trading amount based on wallet holdings, automatic slippage adjustment during retries to improve transaction success rates, and an anti-MEV mechanism to mitigate the effects of maximal extractable value (MEV) on large transactions, ensuring better prices for users.
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