Binance NFT Marketplace has announced that it is expanding the NFT ecosystem for its community. Thus, he announced that the Polygon network has been added to the list of supported chains. On the other hand, the exchange has launched a new product where users can earn high rewards during low volatility. Here are the latest developments in Binance, the largest cryptocurrency exchange with daily trading volume…
Binance adds Polygon (MATIC) network to NFT market
The exchange has expanded the NFT ecosystem by adding support for the Polygon network to the NFT marketplace. The integration of the Polygon network makes Binance NFT a multi-chain, open marketplace ecosystem where users can now explore and trade a wider range of NFTs across multiple Blockchains, including the Ethereum (ETH) network and Polygon (MATIC). The inclusion of the Polygon network, as we’ve also reported as Kriptokoin.com, allows users to buy, deposit, withdraw and list NFTs from the Polygon network on the Binance NFT Marketplace.
Users can trade NFT on Binance NFT Marketplace by holding MATIC or any token in their spot wallet. However, currently only the selected ERC-721 NFT collection on the Polygon network is available on the Binance NFT marketplace. The platform plans to integrate more NFT collections on a regular basis. Users must complete authentication to list and trade NFTs on the Binance NFT Marketplace. The platform has committed to integrating more platforms and Blockchains into its market and optimizing its features.
The stock market launches its new product
On the other hand, Binance Earn has recently launched Range Bound, a new product that offers users the opportunity to earn potentially higher rewards during periods of low market volatility. The product allows users to earn rewards when the reference price of their chosen crypto asset stays within the selected price range for the entire subscription period. Users have the option to choose the price range and contract date that best suits their needs from the wide variety of options available.
They may also decide to forfeit the portion of the subscription amount known as the subscription amount at risk if the reference price touches or exceeds the upper/lower range of the selected price range during the subscription period. So they can get high returns on their token rewards. The higher the amount of subscriptions exposed to risk, the higher the potential return. If the reference price stays within the price range, the user will not lose the subscription amount at risk and will be eligible to receive the corresponding return.
However, if the reference price touches or exceeds the upper/lower range of the selected price range, users’ subscription amounts at risk will be lost without earning a return. As a result, Range Bound is a new product that offers users the opportunity to earn higher rewards when market volatility is low. It is an innovative way for users to potentially increase their earnings and provides them with a flexible and customizable subscription process.
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