In a recent blog post, Binance shared that it released a couple of updates last month that were based on feedback from its community.
A total of 2,044 product and feature suggestions were reviewed via the Feature Request & Feedback Board according to the post. These updates span across Binance Futures, Copy Trading, Binance Square, and Binance Loans, with all aimed at making things better for users.
The Binance Futures platform introduced a new margin asset, BFUSD, which is a yield-bearing asset designed to enhance trading. BFUSD offers daily USDT rewards simply for holding it in a Binance USDⓈ-M Futures wallet or using it for trading.
“Simply holding BFUSD qualifies you for daily USDT rewards, and using it for futures trading can lead to even greater rewards,” Binance explained.
These rewards come from Binance’s investment strategies, such as delta hedging and Ethereum staking. Delta hedging balances cryptocurrencies like BTC and ETH to generate funding fees, while Ethereum staking uses funds from BFUSD sales to stake ETH, which in turn generates staking rewards for holders of BFUSD.
Binance also added a new update to its copy trading with the introduction of the Lead Trader Comparison Tool. This tool allows users to compare up to four lead traders at once. It presents key metrics such as Sharpe ratio, PnL, ROI, win rate, and profit-sharing margins, which can help users decide which traders to follow.
Additionally, the Coin Info tab has been enhanced with volume metrics and volume-to-market cap data to provide better insights into token liquidity and market activity.
Binance Square, the social networking platform, also received three major updates. The first lets users repost comments. Secondly, users can now earn Binance Points by completing daily tasks, which can be redeemed for rewards such as trading fee rebates and Binance Swag. The last is a Hot Topics tab that has been added to the post editor for users to keep up with popular discussions in the crypto community.
Furthemore, Binance Loans has gotten a brand new improved webpage. According to Binance, the new layout merges Flexible Loans, VIP Loans, and Fixed Rate Loans into a single page for easier switching between the different loan types.
Other updates include the new screen-sharing feature for Binance Square live audio sessions and the “One-Click Swap” option to easily transfer spot assets directly into a user’s UM wallet.
Binance said it made these updates to better serve its users and provide a smooth, efficient experience. The exchange encourages user to follow up on new updates via its official social channels with the hashtag #BinanceBuild.
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