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Find the hidden number.
Eagle eyes can only spot on.ā”Good luck guysā”
Eagle eyes can only spot on.ā”Good luck guysā”
3452839
Find the number hidden in this. What number do you see?
Now think about how much power and potential you truly have. š§š§š§š§š§
Let's take a look and see what's really there!
Now think about how much power and potential you truly have. š§š§š§š§š§
Let's take a look and see what's really there!
3452839
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Binance Academy
--
What Is Simon's Cat (CAT)?
Disclaimer: This article is for educational purposes only. The information provided through Binance does not constitute advice or recommendation of investment or trading. Binance does not take responsibility for any of your investment decisions. Please seek professional advice before taking financial risks.
Key Takeaways
Simonās Cat is a popular book and animated series created by Simon Tofield that features a funny cat.
The Simonās Cat brand has grown beyond its animation roots, branching out into mobile games, merchandise, and now the crypto space with the launch of its CAT token.
The CAT token blends Simon's Cat's humor and charm with Web3, offering fans interactive and fun blockchain experiences.Ā
CAT is officially recognized by the Banijay Group, the company that owns the Simonās Cat intellectual property.
The Simon's Cat Series
Simonās Cat is a popular book and animated series created by British animator Simon Tofield that shows the funny and troublesome behavior of a fat (and often hungry) cat.
Since its debut in 2008, the series has garnered over 1.6 billion views on YouTube and more than 25 million followers across various social media platforms.
In 2024, the brand expanded into the cryptocurrency space by launching the CAT token, aiming to combine entertainment with blockchain technology and introduce Web3 opportunities to its fanbase.
What Is the Simon's Cat Token (CAT)?
Inspired by the series, the Simonās Cat Token (CAT) token was launched in August 2024. According to their whitepaper, the CAT project represents the seamless integration of the Simonās Cat intellectual property (IP) into the Web3 world.
The CAT project secured $6.85 million in funding through two sales: a private sale raising $2.6 million at $0.00222 per 1000 tokens and a public sale that brought in $4.25 million at $0.00278 per 1000 tokens.
CAT was initially launched on the BNB Smart Chain (BSC) and later made available on the Solana blockchain as well. As of December 2024, CATās total supply is roughly 8.1 trillion tokens, with a circulating supply of approximately 6.75 trillion.
CAT and 1000CAT: whatās the difference?
Since CATās token supply is high, Binance adopted 1000CAT as a separate version of the original CAT token. As the name suggests, a single 1000CAT token represents 1,000 CAT tokens. So, if CATās trading price is around $0.000038, 1000CAT should be trading around $0.038.
Simonās Cat Mission
Hybrid integration
CAT combines the familiarity of Web2 with the innovation of Web3 to offer a user-friendly experience for fans at all levels of blockchain proficiency, from beginners to advanced users.
Community-driven engagement
One of the core goals of the CAT project is to provide Simonās Catās large audience with exclusive events, interactive content, and unique opportunities to connect with the brand and Web3 community.
Global accessibility
Another mission of the project is to leverage popular blockchain platforms like BNB Chain and Solana to maximize trading liquidity and accessibility for fans worldwide.
Social responsibility
Staying true to Simonās Catās values, CAT uses a percentage of its token supply to actively support animal welfare through strategic partnerships and charitable initiatives.
Simonās Cat Key Products
1. Animated series with millions of followers and more than 4 billion views across social media platforms like Instagram, YouTube, and Facebook.
2. Mobile games with millions of downloads on Google Play and Apple Store:
Telegram Mini-App: Interactive quest game.
Crunch Time: A match-3 puzzle game.
Pop Time: A fun bubble shooter game with Simonās Cat humor.
Story Time: A narrative-driven puzzle game.
3. Books and merchandise:
Branded collaborations with Primark and other retail companies.
Bestselling books include "Simonās Cat in His Very Own Book" and "Simonās Cat vs. the World."
4. Digital content: In addition to the series, the brand also works on comics and interactive content to keep fans engaged.
1000CAT on the Binance HODLer Airdrop
CAT was also part of the Binance HODLer Airdrop program, which rewards BNB holders with tokens based on snapshots of their BNB balances. The airdrops are automatically given to those who subscribe BNB to Simple Earn.
The HODLer Airdrop program distributed 1000CAT tokens to users who subscribed their BNB to Simple Earn products from December 9 to 12, 2024. 1000CAT was listed for trading on December 17, 2024, with the Seed Tag applied.
Closing Thoughts
Simonās Cat has grown way beyond its animation roots, branching out into mobile games, merchandise, and now the crypto space with the CAT token. The brandās business model uses Simonās Catās popular IP to bring together the physical and digital worlds in an interesting way.
By combining Web2 and Web3 experiences, the CAT project keeps the fun spirit of Simonās Cat alive while offering new engagement opportunities for fans worldwide. The roadmap also highlights real-world initiatives, such as community events and charity campaigns.
Further Reading
Your Guide to Binance Launchpad and LaunchpoolĀ
What Are Pudgy Penguins (PENGU)?
What Is a Crypto Wallet and How to Choose the Right One?
Disclaimer: This content is presented to you on an āas isā basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Where the article is contributed by a third party contributor, please note that those views expressed belong to the third party contributor, and do not necessarily reflect those of Binance Academy. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. This material should not be construed as financial, legal or other professional advice. For more information, see our Terms of Use and Risk Warning.
Key Takeaways
Simonās Cat is a popular book and animated series created by Simon Tofield that features a funny cat.
The Simonās Cat brand has grown beyond its animation roots, branching out into mobile games, merchandise, and now the crypto space with the launch of its CAT token.
The CAT token blends Simon's Cat's humor and charm with Web3, offering fans interactive and fun blockchain experiences.Ā
CAT is officially recognized by the Banijay Group, the company that owns the Simonās Cat intellectual property.
The Simon's Cat Series
Simonās Cat is a popular book and animated series created by British animator Simon Tofield that shows the funny and troublesome behavior of a fat (and often hungry) cat.
Since its debut in 2008, the series has garnered over 1.6 billion views on YouTube and more than 25 million followers across various social media platforms.
In 2024, the brand expanded into the cryptocurrency space by launching the CAT token, aiming to combine entertainment with blockchain technology and introduce Web3 opportunities to its fanbase.
What Is the Simon's Cat Token (CAT)?
Inspired by the series, the Simonās Cat Token (CAT) token was launched in August 2024. According to their whitepaper, the CAT project represents the seamless integration of the Simonās Cat intellectual property (IP) into the Web3 world.
The CAT project secured $6.85 million in funding through two sales: a private sale raising $2.6 million at $0.00222 per 1000 tokens and a public sale that brought in $4.25 million at $0.00278 per 1000 tokens.
CAT was initially launched on the BNB Smart Chain (BSC) and later made available on the Solana blockchain as well. As of December 2024, CATās total supply is roughly 8.1 trillion tokens, with a circulating supply of approximately 6.75 trillion.
CAT and 1000CAT: whatās the difference?
Since CATās token supply is high, Binance adopted 1000CAT as a separate version of the original CAT token. As the name suggests, a single 1000CAT token represents 1,000 CAT tokens. So, if CATās trading price is around $0.000038, 1000CAT should be trading around $0.038.
Simonās Cat Mission
Hybrid integration
CAT combines the familiarity of Web2 with the innovation of Web3 to offer a user-friendly experience for fans at all levels of blockchain proficiency, from beginners to advanced users.
Community-driven engagement
One of the core goals of the CAT project is to provide Simonās Catās large audience with exclusive events, interactive content, and unique opportunities to connect with the brand and Web3 community.
Global accessibility
Another mission of the project is to leverage popular blockchain platforms like BNB Chain and Solana to maximize trading liquidity and accessibility for fans worldwide.
Social responsibility
Staying true to Simonās Catās values, CAT uses a percentage of its token supply to actively support animal welfare through strategic partnerships and charitable initiatives.
Simonās Cat Key Products
1. Animated series with millions of followers and more than 4 billion views across social media platforms like Instagram, YouTube, and Facebook.
2. Mobile games with millions of downloads on Google Play and Apple Store:
Telegram Mini-App: Interactive quest game.
Crunch Time: A match-3 puzzle game.
Pop Time: A fun bubble shooter game with Simonās Cat humor.
Story Time: A narrative-driven puzzle game.
3. Books and merchandise:
Branded collaborations with Primark and other retail companies.
Bestselling books include "Simonās Cat in His Very Own Book" and "Simonās Cat vs. the World."
4. Digital content: In addition to the series, the brand also works on comics and interactive content to keep fans engaged.
1000CAT on the Binance HODLer Airdrop
CAT was also part of the Binance HODLer Airdrop program, which rewards BNB holders with tokens based on snapshots of their BNB balances. The airdrops are automatically given to those who subscribe BNB to Simple Earn.
The HODLer Airdrop program distributed 1000CAT tokens to users who subscribed their BNB to Simple Earn products from December 9 to 12, 2024. 1000CAT was listed for trading on December 17, 2024, with the Seed Tag applied.
Closing Thoughts
Simonās Cat has grown way beyond its animation roots, branching out into mobile games, merchandise, and now the crypto space with the CAT token. The brandās business model uses Simonās Catās popular IP to bring together the physical and digital worlds in an interesting way.
By combining Web2 and Web3 experiences, the CAT project keeps the fun spirit of Simonās Cat alive while offering new engagement opportunities for fans worldwide. The roadmap also highlights real-world initiatives, such as community events and charity campaigns.
Further Reading
Your Guide to Binance Launchpad and LaunchpoolĀ
What Are Pudgy Penguins (PENGU)?
What Is a Crypto Wallet and How to Choose the Right One?
Disclaimer: This content is presented to you on an āas isā basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Where the article is contributed by a third party contributor, please note that those views expressed belong to the third party contributor, and do not necessarily reflect those of Binance Academy. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. This material should not be construed as financial, legal or other professional advice. For more information, see our Terms of Use and Risk Warning.
good idea
Binance Academy
--
What Is Bio Protocol (BIO)?
Disclaimer: This article is for educational purposes only. The information provided through Binance does not constitute advice or recommendation of investment or trading. Binance does not take responsibility for any of your investment decisions. Please seek professional advice before taking financial risks.
Key Takeaways
BIO is a curation and liquidity protocol dedicated to advancing Decentralized Science (DeSci).Ā
Its mission is to accelerate biotechnology by giving patients, scientists, and biotech professionals the ability to collectively fund, develop, and own tokenized biotech projects and intellectual property (IP).
The BIO token serves as a utility and governance tool, enabling holders to support DAOs, vote on key decisions, and fund network growth. Holders may also get access to rewards, early funding, and new products.
What Is BIO?
BIO is a curation and liquidity protocol dedicated to advancing Decentralized Science (DeSci). Its mission is to accelerate biotechnology by empowering patients, scientists, and biotech professionals worldwide with the ability to collectively fund, develop, and own tokenized biotech projects and intellectual property (IP).
The BIO team includes professionals who helped create Molecule and VitaDAO. Molecule is a tokenization platform for biomedicine projects, and VitaDAO is a decentralized community focused on longevity science.
What Is BIO Trying to Solve?
Traditional biotech research often faces challenges like high costs, slow funding processes, and limited access to intellectual property for smaller players. BIOās approach is to break down these barriers using blockchain.Ā
The Bioconomy
Their vision, dubbed the āBioconomy,ā is all about creating a community-driven ecosystem where innovation can thrive without being bottlenecked by outdated systems.
By decentralizing the way biotech projects are funded and developed, BIO wants to make it easier for new ideas to gain traction. Instead of relying on a few big players, theyāre empowering a global network of people to pool resources, vote on promising projects, and share ownership of the resulting breakthroughs.
The BIO Protocol
At its core, the BIO project runs on the BIO Protocol, a framework that lays out the structure for decentralized biotech development. Some of its key components include:
BioDAOs: These are decentralized organizations that focus on specific areas of biotech. Think of them as specialized communities working on projects like gene editing, cancer research, or vaccine development. Members of a bioDAO pool their resources, make collective decisions, and share in the outcomes.
Curation: With so many projects out there, deciding which ones to prioritize can be tricky. Thatās where BIOās curation mechanism comes in. Community members vote to determine which projects have the most potential, ensuring resources are used wisely.
Bio/Acc Rewards: To keep the community active and engaged, BIO offers rewards through its Bio/Acc Rewards program. Whether youāre contributing expertise, funding, or ideas, you can earn tokens based on your contribution.
IP tokens: One of BIOās standout features is the tokenization of intellectual property. Instead of biotech breakthroughs being locked up in corporate vaults, IP is turned into digital tokens. These tokens allow for fractional ownership, meaning more people can invest in and benefit from scientific advancements.
Ecosystem and Governance
By bringing together stakeholders from across the biotech spectrum (researchers, investors, and patients), BIO creates a space where everyone has a voice. Governance is decentralized, with token holders having a say in the projectās direction. This model ensures transparency and keeps decision-making aligned with the communityās interests.
BIO Token
Essentially, the BIO token acts as both a utility and a governance tool within the BIO ecosystem. For example, BIO holders can show support for specific bioDAOs, vote on decisions about how new BIO tokens are created or distributed, and help fund programs to grow and improve the network.Ā
BIO holders can also gain access to governance rights, early funding rounds, financial rewards for health data contributions and clinical trial participation, and new products funded by bioDAOs.
BIO Launchpad
BIO's Launchpad is a platform designed to facilitate the initiation and funding of new biotech projects. It provides tools and resources for project teams to launch their initiatives within the BIO ecosystem, connecting them with a community of supporters and potential collaborators.
BioDAO Incubator
To support the development of new bioDAOs, BIO offers an incubator program that provides guidance, resources, and a structured framework for emerging decentralized organizations. The goal is to foster innovation and ensure the successful launch and growth of bioDAOs within the BIO ecosystem.
Closing Thoughts
The BIO project offers a more open and collaborative approach to biotech research. Instead of being locked into traditional structures where only a few major players have control, BIO provides a way for diverse communities to come together and drive progress.
By tokenizing intellectual property and using decentralized governance, BIO opens up opportunities for innovation that might otherwise be overlooked. For researchers, itās a chance to access funding more quickly and equitably. For patients and advocates, itās a way to directly support the breakthroughs that matter to them.
Further Reading
Binance Beginner's GuideĀ
Your Guide to Binance Launchpad and LaunchpoolĀ
What Is a Crypto Wallet and How to Choose the Right One?
Disclaimer: This content is presented to you on an āas isā basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Where the article is contributed by a third party contributor, please note that those views expressed belong to the third party contributor, and do not necessarily reflect those of Binance Academy. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. This material should not be construed as financial, legal or other professional advice. For more information, see our Terms of Use and Risk Warning.
Key Takeaways
BIO is a curation and liquidity protocol dedicated to advancing Decentralized Science (DeSci).Ā
Its mission is to accelerate biotechnology by giving patients, scientists, and biotech professionals the ability to collectively fund, develop, and own tokenized biotech projects and intellectual property (IP).
The BIO token serves as a utility and governance tool, enabling holders to support DAOs, vote on key decisions, and fund network growth. Holders may also get access to rewards, early funding, and new products.
What Is BIO?
BIO is a curation and liquidity protocol dedicated to advancing Decentralized Science (DeSci). Its mission is to accelerate biotechnology by empowering patients, scientists, and biotech professionals worldwide with the ability to collectively fund, develop, and own tokenized biotech projects and intellectual property (IP).
The BIO team includes professionals who helped create Molecule and VitaDAO. Molecule is a tokenization platform for biomedicine projects, and VitaDAO is a decentralized community focused on longevity science.
What Is BIO Trying to Solve?
Traditional biotech research often faces challenges like high costs, slow funding processes, and limited access to intellectual property for smaller players. BIOās approach is to break down these barriers using blockchain.Ā
The Bioconomy
Their vision, dubbed the āBioconomy,ā is all about creating a community-driven ecosystem where innovation can thrive without being bottlenecked by outdated systems.
By decentralizing the way biotech projects are funded and developed, BIO wants to make it easier for new ideas to gain traction. Instead of relying on a few big players, theyāre empowering a global network of people to pool resources, vote on promising projects, and share ownership of the resulting breakthroughs.
The BIO Protocol
At its core, the BIO project runs on the BIO Protocol, a framework that lays out the structure for decentralized biotech development. Some of its key components include:
BioDAOs: These are decentralized organizations that focus on specific areas of biotech. Think of them as specialized communities working on projects like gene editing, cancer research, or vaccine development. Members of a bioDAO pool their resources, make collective decisions, and share in the outcomes.
Curation: With so many projects out there, deciding which ones to prioritize can be tricky. Thatās where BIOās curation mechanism comes in. Community members vote to determine which projects have the most potential, ensuring resources are used wisely.
Bio/Acc Rewards: To keep the community active and engaged, BIO offers rewards through its Bio/Acc Rewards program. Whether youāre contributing expertise, funding, or ideas, you can earn tokens based on your contribution.
IP tokens: One of BIOās standout features is the tokenization of intellectual property. Instead of biotech breakthroughs being locked up in corporate vaults, IP is turned into digital tokens. These tokens allow for fractional ownership, meaning more people can invest in and benefit from scientific advancements.
Ecosystem and Governance
By bringing together stakeholders from across the biotech spectrum (researchers, investors, and patients), BIO creates a space where everyone has a voice. Governance is decentralized, with token holders having a say in the projectās direction. This model ensures transparency and keeps decision-making aligned with the communityās interests.
BIO Token
Essentially, the BIO token acts as both a utility and a governance tool within the BIO ecosystem. For example, BIO holders can show support for specific bioDAOs, vote on decisions about how new BIO tokens are created or distributed, and help fund programs to grow and improve the network.Ā
BIO holders can also gain access to governance rights, early funding rounds, financial rewards for health data contributions and clinical trial participation, and new products funded by bioDAOs.
BIO Launchpad
BIO's Launchpad is a platform designed to facilitate the initiation and funding of new biotech projects. It provides tools and resources for project teams to launch their initiatives within the BIO ecosystem, connecting them with a community of supporters and potential collaborators.
BioDAO Incubator
To support the development of new bioDAOs, BIO offers an incubator program that provides guidance, resources, and a structured framework for emerging decentralized organizations. The goal is to foster innovation and ensure the successful launch and growth of bioDAOs within the BIO ecosystem.
Closing Thoughts
The BIO project offers a more open and collaborative approach to biotech research. Instead of being locked into traditional structures where only a few major players have control, BIO provides a way for diverse communities to come together and drive progress.
By tokenizing intellectual property and using decentralized governance, BIO opens up opportunities for innovation that might otherwise be overlooked. For researchers, itās a chance to access funding more quickly and equitably. For patients and advocates, itās a way to directly support the breakthroughs that matter to them.
Further Reading
Binance Beginner's GuideĀ
Your Guide to Binance Launchpad and LaunchpoolĀ
What Is a Crypto Wallet and How to Choose the Right One?
Disclaimer: This content is presented to you on an āas isā basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Where the article is contributed by a third party contributor, please note that those views expressed belong to the third party contributor, and do not necessarily reflect those of Binance Academy. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. This material should not be construed as financial, legal or other professional advice. For more information, see our Terms of Use and Risk Warning.
good
Binance Academy
--
What Is BFUSD?
Key Takeaways
BFUSD is a special asset on Binance designed for Futures traders. It works as collateral for trades while offering daily USDT rewards.
By holding BFUSD, users can earn daily rewards in USDT, with additional rewards available for those actively trading USDā-M Futures using BFUSD as collateral. These rewards are powered by Binanceās strategies like delta-neutral hedging and Ethereum staking.
To ensure stability during tough market conditions, a Reserve Fundāinitially funded with 1 million USDTāsupports BFUSDās hedging mechanism, offering protection against negative funding rates.
What Is BFUSD?
BFUSD is a reward-earning asset designed exclusively for Binance Futures users. Itās a special tool that allows traders to earn extra rewards when using it as margin for futures trading. But what exactly is BFUSD and how does it work?
How Does BFUSD Work?
Binance Futures users can buy BFUSD to boost their trading power and earn passive income. In other words, when you buy BFUSD, youāre essentially converting your USDT into an asset that works as trading collateral while also generating rewards.Ā
Users can qualify for daily USDT rewards by simply holding BFUSD in their Binance USDā-M Futures wallet. In addition, if they use BFUSD for futures trading, they can get even higher USDT rewards.
BFUSD Rewards
BFUSD rewards are based on Binanceās investment and hedging strategies, which consist mostly of delta hedging and ether (ETH) staking.
Delta hedging is a strategy that involves hedging ETH and other cryptocurrencies between the spot and futures markets. The idea is to collect funding fees by opening trading positions that offset each other and greatly reduce risks.
The ETH staking strategy involves using the funds collected from BFUSD sales to buy and stake ETH. The staking rewards are then used to fund the rewards given to BFUSD holders.
The Daily Reward Rates are calculated daily, but the exact rate varies depending on how much Binance earns from its hedging and staking activities.
Base Rate and Boosted Rate
Binance splits rewards into two categories:
Base Rate: USDT rewards for simply holding BFUSD in your Binance USDā-M Futures wallet.
Boosted Rate: Higher reward rate for those who actively trade using BFUSD as collateral.
Reserve Fund
The BFUSD Reserve Fund is a special fund created by Binance to protect users from the potential impact of negative funding rates. The fund started with 1 million USDT, but it has grown over time as a portion of the income generated by Binanceās investment and hedging strategies are allocated to it.
How to Use BFUSD
BFUSD can be used as margin in Binance Futures markets, enabling traders to increase their leverage and trading power. You can start using BFUSD in a few simple steps:
Log in to your Binance account.
Navigate to the Futures page and find the BFUSD section.
Click [Buy] BFUSD, enter the amount of USDT you want to convert and click [Confirm].
Enable Multi-Asset Mode: This allows BFUSD to be used as margin in your trades.
Start earning: You can hold your BFUSD for passive earnings or boost your rewards by using BFUSD as margin when trading futures.
Redeeming BFUSD
If you decide you no longer want to hold BFUSD, you can redeem it back into USDT at a 1:1 ratio. Follow these steps to redeem your BFUSD:
Go to your Binance account, navigate to the Futures page, and find the BFUSD section.
Click [Redeem].
Enter the amount of BFUSD you want to convert and confirm.
Keep in mind, there are small fees for both buying and redeeming BFUSD. Also, in rare cases of high demand, Binance might delay redemptions for up to seven days.
Why Should You Use BFUSD?
Benefits for Traders
Earn passive rewards: You can earn USDT rewards every day by simply holding BFUSD in your Binance Futures wallet.
Boost your trading: By using BFUSD as margin, you can access more capital for your trades.
Flexibility: You can redeem BFUSD for USDT in just a few simple steps.
Protection from risks: Binance has set up a Reserve Fund to reduce risks and keep rewards relatively stable.
Things to Consider When Using BFUSD
While BFUSD is a great tool for futures traders, there are a few things to keep in mind:
Fees: Each time you buy or redeem BFUSD, thereās a small fee (usually 0.1%).
Market risk: Your rewards depend on market conditions. On bad days, you might earn less than expected.
Redemption delays: If lots of people try to redeem BFUSD at the same time, you might have to wait a few days for Binance to process it.
Closing Thoughts
BFUSD is a great tool for Binance Futures traders who want to maximize their trading potential while earning some extra income. Itās flexible, easy to use, and backed by solid investment strategies. Whether youāre a passive HODLer or an active trader, BFUSD can be a valuable addition to your trading toolkit.
That said, always keep an eye on fees, market risks, and Binanceās terms. If youāre ready to give BFUSD a try, head over to the Binance Futures section and start exploring its benefits today!
Further Reading
Your Guide to Binance Launchpad and LaunchpoolĀ
What Is a Stablecoin?
What Is Crypto Staking and How Does It Work?Ā
Disclaimer: This content is presented to you on an āas isā basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Where the article is contributed by a third party contributor, please note that those views expressed belong to the third party contributor, and do not necessarily reflect those of Binance Academy. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. This material should not be construed as financial, legal or other professional advice. For more information, see our Terms of Use and Risk Warning.
BFUSD is a special asset on Binance designed for Futures traders. It works as collateral for trades while offering daily USDT rewards.
By holding BFUSD, users can earn daily rewards in USDT, with additional rewards available for those actively trading USDā-M Futures using BFUSD as collateral. These rewards are powered by Binanceās strategies like delta-neutral hedging and Ethereum staking.
To ensure stability during tough market conditions, a Reserve Fundāinitially funded with 1 million USDTāsupports BFUSDās hedging mechanism, offering protection against negative funding rates.
What Is BFUSD?
BFUSD is a reward-earning asset designed exclusively for Binance Futures users. Itās a special tool that allows traders to earn extra rewards when using it as margin for futures trading. But what exactly is BFUSD and how does it work?
How Does BFUSD Work?
Binance Futures users can buy BFUSD to boost their trading power and earn passive income. In other words, when you buy BFUSD, youāre essentially converting your USDT into an asset that works as trading collateral while also generating rewards.Ā
Users can qualify for daily USDT rewards by simply holding BFUSD in their Binance USDā-M Futures wallet. In addition, if they use BFUSD for futures trading, they can get even higher USDT rewards.
BFUSD Rewards
BFUSD rewards are based on Binanceās investment and hedging strategies, which consist mostly of delta hedging and ether (ETH) staking.
Delta hedging is a strategy that involves hedging ETH and other cryptocurrencies between the spot and futures markets. The idea is to collect funding fees by opening trading positions that offset each other and greatly reduce risks.
The ETH staking strategy involves using the funds collected from BFUSD sales to buy and stake ETH. The staking rewards are then used to fund the rewards given to BFUSD holders.
The Daily Reward Rates are calculated daily, but the exact rate varies depending on how much Binance earns from its hedging and staking activities.
Base Rate and Boosted Rate
Binance splits rewards into two categories:
Base Rate: USDT rewards for simply holding BFUSD in your Binance USDā-M Futures wallet.
Boosted Rate: Higher reward rate for those who actively trade using BFUSD as collateral.
Reserve Fund
The BFUSD Reserve Fund is a special fund created by Binance to protect users from the potential impact of negative funding rates. The fund started with 1 million USDT, but it has grown over time as a portion of the income generated by Binanceās investment and hedging strategies are allocated to it.
How to Use BFUSD
BFUSD can be used as margin in Binance Futures markets, enabling traders to increase their leverage and trading power. You can start using BFUSD in a few simple steps:
Log in to your Binance account.
Navigate to the Futures page and find the BFUSD section.
Click [Buy] BFUSD, enter the amount of USDT you want to convert and click [Confirm].
Enable Multi-Asset Mode: This allows BFUSD to be used as margin in your trades.
Start earning: You can hold your BFUSD for passive earnings or boost your rewards by using BFUSD as margin when trading futures.
Redeeming BFUSD
If you decide you no longer want to hold BFUSD, you can redeem it back into USDT at a 1:1 ratio. Follow these steps to redeem your BFUSD:
Go to your Binance account, navigate to the Futures page, and find the BFUSD section.
Click [Redeem].
Enter the amount of BFUSD you want to convert and confirm.
Keep in mind, there are small fees for both buying and redeeming BFUSD. Also, in rare cases of high demand, Binance might delay redemptions for up to seven days.
Why Should You Use BFUSD?
Benefits for Traders
Earn passive rewards: You can earn USDT rewards every day by simply holding BFUSD in your Binance Futures wallet.
Boost your trading: By using BFUSD as margin, you can access more capital for your trades.
Flexibility: You can redeem BFUSD for USDT in just a few simple steps.
Protection from risks: Binance has set up a Reserve Fund to reduce risks and keep rewards relatively stable.
Things to Consider When Using BFUSD
While BFUSD is a great tool for futures traders, there are a few things to keep in mind:
Fees: Each time you buy or redeem BFUSD, thereās a small fee (usually 0.1%).
Market risk: Your rewards depend on market conditions. On bad days, you might earn less than expected.
Redemption delays: If lots of people try to redeem BFUSD at the same time, you might have to wait a few days for Binance to process it.
Closing Thoughts
BFUSD is a great tool for Binance Futures traders who want to maximize their trading potential while earning some extra income. Itās flexible, easy to use, and backed by solid investment strategies. Whether youāre a passive HODLer or an active trader, BFUSD can be a valuable addition to your trading toolkit.
That said, always keep an eye on fees, market risks, and Binanceās terms. If youāre ready to give BFUSD a try, head over to the Binance Futures section and start exploring its benefits today!
Further Reading
Your Guide to Binance Launchpad and LaunchpoolĀ
What Is a Stablecoin?
What Is Crypto Staking and How Does It Work?Ā
Disclaimer: This content is presented to you on an āas isā basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Where the article is contributed by a third party contributor, please note that those views expressed belong to the third party contributor, and do not necessarily reflect those of Binance Academy. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. This material should not be construed as financial, legal or other professional advice. For more information, see our Terms of Use and Risk Warning.
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What Is Phantom Wallet and How to Use It?
Key Takeaways
Phantom Wallet is a crypto wallet for managing cryptocurrencies and other digital assets across multiple blockchains, including Solana, Ethereum, and Bitcoin.
Phantom Wallet is non-custodial, so it doesnāt hold your private keys and seed phrases. Users have total control over their keys and digital assets.
Phantom offers many features and serves as a gateway for users to manage their cryptocurrencies and non-fungible tokens (NFTs). It can also be used to interact with decentralized finance applications.
Keep your crypto wallet safe by using strong passwords, enabling biometric authentication, and connecting only to trusted DApps. Make sure to keep your seed phrase private and safe.
What Is Phantom Wallet?
Phantom Wallet is a non-custodial cryptocurrency wallet. Although it was initially designed for the Solana blockchain, Phantom now supports multiple chains, including Solana, Ethereum, Base, Polygon, and Bitcoin. Being non-custodial means that Phantom Wallet doesnāt hold your private keys and seed phrases, so users have total control over their keys and digital assets.
Phantom Wallet serves as a gateway for users to manage their cryptocurrencies and NFTs (non-fungible tokens). Similar to other Web3 wallets, Phantom also allows you to interact with decentralized finance (DeFi) platforms and applications (DApps).
How to Set Up a Phantom Wallet
Getting started with Phantom Wallet only takes a few simple steps. In this example, we will use the Phantom Wallet browser extension, but the process is pretty much the same on mobile. The main difference is that, on mobile, you can use biometric security such as fingerprint or facial recognition.
1. First, go to the official website and download the version you need. As of December 2024, Phantom is available as a mobile app (iOS and Android) and browser extension (Chrome, Firefox, Brave, and Edge).
2. Next, you can create a new wallet or import an existing one. Letās create a brand new wallet.
3. You can choose to create a wallet using an email address or a seed phrase. We will use a seed phrase to illustrate how it works.
4. Create a strong password for your wallet. Note that this password will only be used locally (based on your current browser profile and device).
If you are on mobile, you will have the option to use biometric security such as fingerprint or facial recognition.
5. Save your seed phrase in a safe and private place. This phrase acts like your master key and is the only way to recover your wallet. Do not share it with anyone.
6. Thatās it! Your Phantom Wallet is ready to use.
How to Use Your Phantom Wallet
If you are using the Phantom Wallet browser extension, you can pin it to your extension bar for easy access.
Phantom Wallet key features
When you open your wallet, you will see four buttons: Receive, Send, Swap, and Buy.
1. Receive: Here you can copy your wallet address or get the corresponding QR code. You will need these addresses when making a deposit or receiving funds from someone.Ā
For example, if you want to withdraw SOL from your Binance account to your Phantom Wallet, you will need to copy and paste the receiving address on the Binance withdrawal page.
2. Send: Here you can send funds from your Phantom Wallet to another wallet. Select the correct blockchain network and make sure to copy and paste the correct receiving address.
3. Swap: Here you can easily make trades (swaps) between multiple cryptocurrencies. Note that you can use the top right button to change your Slippage settings.Ā
In short, a higher slippage percentage means your trade may cost more than expected. A lower slippage is better in terms of price, but the transaction may fail if itās too low. If you are not sure, you can set it to Auto, and Phantom Wallet will try to find the best swap available.
4. Buy: Here you can buy cryptocurrencies through third-party network partners. The payment methods and fees will vary depending on your location. Common payment methods include credit and debit cards, Apple Pay, and Google Pay.
Manage token list
Your Phantom Wallet automatically shows your balances for major cryptocurrencies like SOL, ETH, and BTC. To add or remove specific tokens, click [Manage token list] at the bottom of your wallet interface.
In the following menu, you can choose which tokens you want to show in your wallet by turning their toggles on and off. You can also search for tokens using the Search bar.
We recommend turning off tokens you received from unknown sources, as these are usually scams.
Phantom Wallet accounts
At the top, you can find the public addresses of your Phantom Wallet, one for each supported chain.Ā
When depositing funds from another wallet or receiving funds from someone, you can click the corresponding public address for a quick copy and paste (similar to the Receive feature we covered above).
Itās safe to share these public addresses with others, but make sure you are using the correct networkāSolana for SPL tokens, Ethereum for ERC tokens, Bitcoin for BTC, and so on.
How to create and manage multiple accounts
Phantom Wallet allows you to create multiple accounts within the same wallet. This means you can create and manage multiple crypto wallets using the same password and seed phrase.
1. To create a new account, first click the top left button next to your account name.
2. Next, click [Add / Connect Wallet].
3. You can create a brand new multi-chain account or add existing wallets. Follow the instructions according to your choice.
4. You can easily switch between your accounts using the top left button. Note that each account has a different set of public addresses.
Phantom Wallet Bottom menu
At the bottom of your Phantom Wallet, you will find another menu.Ā
The first tab is the home interface we discussed previously. It displays your token list and balances.
The second tab takes you to your NFT collection, where you can manage your digital art and other non-fungible tokens.
The third tab takes you to the Swap function we covered earlier in this article.
The fourth tab shows your wallet's recent activity, including past transactions and interactions with DApps.
The fifth tab takes you to an exploration interface, where you can search for projects, tokens, websites, and collections.
Tips for Staying Safe
Keep your seed phrase safe: Write it down and store it in a secure place. Donāt save it online.
Use biometric security: If youāre on mobile, enable Face ID or fingerprint authentication.
Be careful with DApps: Only connect to trusted websites and apps.
Update regularly: Make sure youāre using the latest version of Phantom to stay protected.
Closing Thoughts
Phantom Wallet is a super handy and easy-to-use tool for managing your crypto and NFTs across different blockchains. Since itās non-custodial, youāre in full control of your assets, which adds an extra layer of security.
Setting up and using Phantom is quick, even if youāre new to crypto. Just remember to keep your seed phrase safe, stay cautious with unknown tokens and DApps, and regularly update your wallet app to stay ahead of security threats.
Further Reading
How to Set Up a Crypto Wallet
What Is a Crypto Wallet and How to Choose the Right One?
Custodial vs. Non-Custodial Wallets: What's the Difference?
Disclaimer: This content is presented to you on an āas isā basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Where the article is contributed by a third party contributor, please note that those views expressed belong to the third party contributor, and do not necessarily reflect those of Binance Academy. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. This material should not be construed as financial, legal or other professional advice. For more information, see our Terms of Use and Risk Warning.
Phantom Wallet is a crypto wallet for managing cryptocurrencies and other digital assets across multiple blockchains, including Solana, Ethereum, and Bitcoin.
Phantom Wallet is non-custodial, so it doesnāt hold your private keys and seed phrases. Users have total control over their keys and digital assets.
Phantom offers many features and serves as a gateway for users to manage their cryptocurrencies and non-fungible tokens (NFTs). It can also be used to interact with decentralized finance applications.
Keep your crypto wallet safe by using strong passwords, enabling biometric authentication, and connecting only to trusted DApps. Make sure to keep your seed phrase private and safe.
What Is Phantom Wallet?
Phantom Wallet is a non-custodial cryptocurrency wallet. Although it was initially designed for the Solana blockchain, Phantom now supports multiple chains, including Solana, Ethereum, Base, Polygon, and Bitcoin. Being non-custodial means that Phantom Wallet doesnāt hold your private keys and seed phrases, so users have total control over their keys and digital assets.
Phantom Wallet serves as a gateway for users to manage their cryptocurrencies and NFTs (non-fungible tokens). Similar to other Web3 wallets, Phantom also allows you to interact with decentralized finance (DeFi) platforms and applications (DApps).
How to Set Up a Phantom Wallet
Getting started with Phantom Wallet only takes a few simple steps. In this example, we will use the Phantom Wallet browser extension, but the process is pretty much the same on mobile. The main difference is that, on mobile, you can use biometric security such as fingerprint or facial recognition.
1. First, go to the official website and download the version you need. As of December 2024, Phantom is available as a mobile app (iOS and Android) and browser extension (Chrome, Firefox, Brave, and Edge).
2. Next, you can create a new wallet or import an existing one. Letās create a brand new wallet.
3. You can choose to create a wallet using an email address or a seed phrase. We will use a seed phrase to illustrate how it works.
4. Create a strong password for your wallet. Note that this password will only be used locally (based on your current browser profile and device).
If you are on mobile, you will have the option to use biometric security such as fingerprint or facial recognition.
5. Save your seed phrase in a safe and private place. This phrase acts like your master key and is the only way to recover your wallet. Do not share it with anyone.
6. Thatās it! Your Phantom Wallet is ready to use.
How to Use Your Phantom Wallet
If you are using the Phantom Wallet browser extension, you can pin it to your extension bar for easy access.
Phantom Wallet key features
When you open your wallet, you will see four buttons: Receive, Send, Swap, and Buy.
1. Receive: Here you can copy your wallet address or get the corresponding QR code. You will need these addresses when making a deposit or receiving funds from someone.Ā
For example, if you want to withdraw SOL from your Binance account to your Phantom Wallet, you will need to copy and paste the receiving address on the Binance withdrawal page.
2. Send: Here you can send funds from your Phantom Wallet to another wallet. Select the correct blockchain network and make sure to copy and paste the correct receiving address.
3. Swap: Here you can easily make trades (swaps) between multiple cryptocurrencies. Note that you can use the top right button to change your Slippage settings.Ā
In short, a higher slippage percentage means your trade may cost more than expected. A lower slippage is better in terms of price, but the transaction may fail if itās too low. If you are not sure, you can set it to Auto, and Phantom Wallet will try to find the best swap available.
4. Buy: Here you can buy cryptocurrencies through third-party network partners. The payment methods and fees will vary depending on your location. Common payment methods include credit and debit cards, Apple Pay, and Google Pay.
Manage token list
Your Phantom Wallet automatically shows your balances for major cryptocurrencies like SOL, ETH, and BTC. To add or remove specific tokens, click [Manage token list] at the bottom of your wallet interface.
In the following menu, you can choose which tokens you want to show in your wallet by turning their toggles on and off. You can also search for tokens using the Search bar.
We recommend turning off tokens you received from unknown sources, as these are usually scams.
Phantom Wallet accounts
At the top, you can find the public addresses of your Phantom Wallet, one for each supported chain.Ā
When depositing funds from another wallet or receiving funds from someone, you can click the corresponding public address for a quick copy and paste (similar to the Receive feature we covered above).
Itās safe to share these public addresses with others, but make sure you are using the correct networkāSolana for SPL tokens, Ethereum for ERC tokens, Bitcoin for BTC, and so on.
How to create and manage multiple accounts
Phantom Wallet allows you to create multiple accounts within the same wallet. This means you can create and manage multiple crypto wallets using the same password and seed phrase.
1. To create a new account, first click the top left button next to your account name.
2. Next, click [Add / Connect Wallet].
3. You can create a brand new multi-chain account or add existing wallets. Follow the instructions according to your choice.
4. You can easily switch between your accounts using the top left button. Note that each account has a different set of public addresses.
Phantom Wallet Bottom menu
At the bottom of your Phantom Wallet, you will find another menu.Ā
The first tab is the home interface we discussed previously. It displays your token list and balances.
The second tab takes you to your NFT collection, where you can manage your digital art and other non-fungible tokens.
The third tab takes you to the Swap function we covered earlier in this article.
The fourth tab shows your wallet's recent activity, including past transactions and interactions with DApps.
The fifth tab takes you to an exploration interface, where you can search for projects, tokens, websites, and collections.
Tips for Staying Safe
Keep your seed phrase safe: Write it down and store it in a secure place. Donāt save it online.
Use biometric security: If youāre on mobile, enable Face ID or fingerprint authentication.
Be careful with DApps: Only connect to trusted websites and apps.
Update regularly: Make sure youāre using the latest version of Phantom to stay protected.
Closing Thoughts
Phantom Wallet is a super handy and easy-to-use tool for managing your crypto and NFTs across different blockchains. Since itās non-custodial, youāre in full control of your assets, which adds an extra layer of security.
Setting up and using Phantom is quick, even if youāre new to crypto. Just remember to keep your seed phrase safe, stay cautious with unknown tokens and DApps, and regularly update your wallet app to stay ahead of security threats.
Further Reading
How to Set Up a Crypto Wallet
What Is a Crypto Wallet and How to Choose the Right One?
Custodial vs. Non-Custodial Wallets: What's the Difference?
Disclaimer: This content is presented to you on an āas isā basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Where the article is contributed by a third party contributor, please note that those views expressed belong to the third party contributor, and do not necessarily reflect those of Binance Academy. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. This material should not be construed as financial, legal or other professional advice. For more information, see our Terms of Use and Risk Warning.
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