Let me address all these topics one by one. First of all, all the writings mentioned below are statements that I have synthesized by following the community. They do not bind individuals or institutions. You can see it as a self-criticism article. First, I will respond to the fud and then I will criticize myself :) Of course, there are points I find faulty.
1- #BinanceAlpha Is the Binance Alpha Program a scam? Why is the #StopBinanceAlpha hashtag here❓
In these writings, which caught my attention the most and I tried to read carefully, I see a style that includes unfounded sentences written to attract attention. They have one common point. They have spent more than 6 months of effort for testnet or airdrop. In return, either they do not receive a reward, or projects struggle to advance due to the rewards distributed from the Binance Alpha pool.
However, as we saw with $AGT or $NXPC, Binance Alpha airdrops are not a system that hinders projects. On the contrary, it has become a strong advertising tool on social media.
💥Getting stuck on the Alpha ramp and going backward is entirely related to the teams' liquidity and tokenomics. Projects that cannot start with the right liquidity and tokenomics unfortunately get stuck on the ramp. We could think of it as preventing something that will explode in the future from starting. Projects that inflate their deserved valuations and come to the market with unreasonable FDV are getting stuck.
This was already the principle of #Binance Alpha's emergence. Instead of directly listing coins, it examines prices and volumes to see if it is suitable for listing.
💥So the story that Binance's own whales are winning from this system is false. This system actually protects small investors against whales and ensures equality. In fact, it is a system that reduces the advantages of being a whale to zero.
For example, if you want to accumulate 18 points daily, and a whale wants to increase their volume, they would need to accumulate approximately $4 million in volume just to gain 5 points more than you. Since whales would be paying more than $100 due to the fees and slippage costs they incur at that volume, they stay away from the system.
It is a system where small investors receive equal rewards. In fact, I can say it is the only system that rewards small investors, not whales, to date.
So the #StopBinanceAlpha hashtag is not for those who have suffered losses from the system. Despite all their efforts, it has become a trending topic method created by a group criticizing your ability to earn rewards just like them. People have worked for years to win money, and you are earning it in a two-week process.
2) #BinanceAlpha What needs to be improved in the program?
Of course, as in every system, this system has some flaws and errors. In fact, if possible, we have some requests from the @Binance Wallet team.
💥Price-chart inconsistency; unfortunately, they couldn't resolve this issue in the Binance web3 wallet for months. That's why your limit orders are not working correctly. There are situations where you can't sell the token where you want or buy it where you want.
Of course, there are also visual errors; when you try to expand the charts to a wider screen, you might see the price reset. This should not scare you; it's just a graphical error.
💥The reward program in the Alpha program focuses solely on buying and selling. Unintended charts are created as users buy and sell without regard to loss. As long as there is no holder, volume alone contributes to the BSC network. The Alpha program must introduce an Alpha token holder system to protect these tokens here. In other words, giving users extra points for holding a portion of alpha tokens will stabilize the system and somewhat rein in volatility.
💥As you know, with the integration of Alpha into the exchange part, #Web3 transactions have been greatly simplified. This way, you just say buy, and it buys. It selects the swap and completes the transactions in the appropriate pool on your behalf. Still, just like on the web3 side, I find it more appropriate to give those who wish the ability to choose platforms for swap transactions. If I lose in the pool selected by the algorithm, I blame Binance; if I choose the liquidity pool myself, the fault is mine :) At least, this feature should be activated for those who wish.
💥To minimize the grievance in every transaction, we say custom slippage and bring it down to 0.1. However, when making consecutive trades with smaller budgets, having to enter slippage again each time becomes exhausting. Having an option to save this or at least keeping the last set adjustment until I change it would speed up our processes.
💥The claiming process ends at 03:00. One of the most common complaints I receive from the community is this. Because if a person claims after 03:00, since the points for that day are not deducted, they also become entitled to the airdrop to be given the next day. Since it is a process within a 15-day cycle, even though the team sees it as unimportant, with the action taken on the last day of the cycle, a person can collect the reward they would be able to receive 10 days later 10 days in advance. How?
If you accumulated 18 points daily, you would have 270 points on Monday. You claimed for 4 days. You dropped to 210 points. If you claim on Friday, considering the possibility that you will drop to 195 points, by claiming after the market closes on Friday night, even though it is announced as 205 points today, a person who was at 210 points yesterday and waited for today to claim has claimed both. Normally, the only way they could acquire the reward again would be if an airdrop came at 195 points, smartly taking it early.
💥The deduction of -15 points during TGE airdrops is still not accepted by the community. Because there is both a point accumulation condition and a 3 BNB locking condition, the community finds this unreasonable. They do not want to spend 15 points here. Because, regardless of airdrop or TGE, it averages $100 in earnings. Since not all can participate in the point deduction system, they directly eliminate TGEs. Having lower or no point deductions compared to TGE participations will increase participation.
💥Since the fee charges for limit orders have risen up to $5, sometimes it seems more logical to make an instant trade and accept the slippage. If you want to popularize limit orders, reduce the fee charges.
💥The ability to withdraw and deposit Alpha coins should be activated. The absence of a contract address where I can't make a withdrawal or deposit creates distrust. Investors think that these coins are not in my wallet. When they see price volatility, they say Binance made a hard sell with our coins.
💥Binance X opening the alpha page. It has been exhausting for us to follow information from all pages. It’s time to track everything from a single page. Since Alpha will be long-term, this should be ensured. Meanwhile, I have compiled all information related to upcoming and past airdrops and TGE for you in a single form.
docs.google.com/spreadsheets/d…
💥The harsh selling policies in the recent airdrops are resulting in disappointment due to low liquidity. Please do not include projects that do not have the liquidity to support this sale in the Alpha program. Projects like $TGT, $Soon, $ASRR are damaging the program with their poor performance.
💥Finally, we hope that the Alpha program will come to @BinanceTR as soon as possible. This way, Turkish participation will increase. It would be great to have a place for Turkey in this reward-filled program.
So what criticisms or improvements do you have regarding the Alpha program?
