Binance, once one of the top innovators, has been following trends for the past few months: the latest being DeFi. Following in FTX’s footsteps, Binance has been listing new DeFi tokens quickly for a reason that may not be the most appealing to the public. In what seems to now be a deleted tweet, the CEO of Binance CZ stated the following.
Strange Actions
Binance recently released a DeFi index, except that this DeFi index included SXP (Swipe) which is a non-DeFi product. Some speculated that it was only added because Binance had acquired Swipe. Another strange event took place after the CoinMarketCap acquisition. A list of the top DeFi assets was created and BNB reigned on top of that list as number 1 at the start which also is non-DeFi asset.
Binance BSwap
As the liquidity mining craze keeps gaining more attention, Binance decided to launch their own liquidity mining platform called: Binance BSwap. Liquidity mining goes as follows: take your coins (specified ones) to our automatic market making AMM pool and earn the platform’s native token as a reward. This craze has caused certain assets to go up in price as they were required for liquidity mining. One of those assets was COMP during the Yam mining days. Thus far, the liquidity can only be added via the stablecoin pairs made up of USDT, BUSD and DAI.
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