In the context of Binance, "other tokens" usually refer to cryptocurrencies and tokens distinct from the more well-known ones like Bitcoin (BTC), Ethereum (ETH), or Binance's own token, BNB. These tokens can include a wide variety of digital assets available on the platform, whether in Binance's centralized exchange, in Binance's Web3 Wallet, or in specific sections like Binance Alpha or Launchpool.
### Types of "Other Tokens" on Binance:
1. Tokens from DeFi Projects:
- Binance allows trading with DeFi tokens like UNI (Uniswap), CAKE (PancakeSwap), AAVE, LINK, among others, which represent decentralized finance projects. These tokens are often used for governance, staking, or providing liquidity on decentralized platforms.
- Example: You can buy tokens like LINK or AAVE directly with a credit card or trade them for other cryptos on Binance.
2. Tokens from Web3 Projects and dApps:
- In Binance's Web3 Wallet, you can interact with tokens associated with decentralized applications (dApps). For example, projects in Binance Alpha like Ondo Finance (ONDO), Morpho (MORPHO), or Aerodrome (AERO) are tokens from emerging projects in the Web3 ecosystem, focusing on areas such as real-world asset (RWA) tokenization or decentralized exchanges (DEX).
3. Tokens from Launchpool and Launchpad:
- Binance Launchpool and Launchpad are platforms where new tokens are launched. Users can stake BNB or other tokens to earn rewards in new tokens. For example, tokens like slisBNB and clisBNB (Staked BNB List and Collateral BNB List) have been mentioned in relation to Launchpool rewards in the Web3 Wallet.
4. Tokens from Community Projects or Memecoins:
- Binance sometimes lists tokens voted by the community or memecoins. Recent examples include tokens like Mubarak (MUBARAK), CZ's Dog (BROCCOLI714), or Banana For Scale (BANANAS31), according to posts on X.
5. Tokens in Binance Alpha:
- Binance Alpha is a section within the Web3 Wallet that highlights early-stage projects with growth potential. Tokens like Kamino Finance (KMNO) or GoPlus Security (GPS) are examples of projects seeking exposure before a possible listing on the main exchange.
6. Tokens from Specific Networks:
- Binance supports tokens on multiple blockchains, such as BEP-20 (BNB Chain), ERC-20 (Ethereum), and others. For example, you can trade tokens like NEIRO, EIGEN, METIS, or ME on specific networks, depending on compatibility with the Web3 Wallet or the exchange.
### How to Interact with These Tokens on Binance?
- In the Centralized Exchange: You can buy, sell, or trade these tokens directly on Binance with pairs like USDT, BNB, or BTC. For example, DeFi tokens like SUSHI or COMP are available for trading.
- In the Web3 Wallet: The Web3 Wallet allows you to manage self-custody tokens, make cross-chain swaps (using Binance Bridge), and explore dApps. Tokens like slisBNB are examples of assets you can manage here.
- Through DEX: If a token is not listed on Binance, you can use a decentralized exchange (DEX) like PancakeSwap, connecting your Web3 Wallet to trade tokens like APSNY for BNB.
### Considerations:
- Risks: The prices of these tokens are volatile, and many new projects (especially in Binance Alpha or Launchpool) are speculative. It is crucial to research before investing.
- Fees: When using the Web3 Wallet to send tokens or make swaps, gas fees apply, which vary depending on the network (for example, BNB for BNB Chain, ETH for Ethereum).
- Self-custody: In the Web3 Wallet, you control your private keys (through MPC technology), which means you are responsible for the security of your funds.
In summary, "other tokens" on Binance encompass a wide range of digital assets, from DeFi and Web3 tokens to memecoins and emerging projects, which you can manage, trade, or explore through the various tools offered by Binance.