- 10 million trees worldwide
- 100 members by UN Day of Forests 2022
- Multi-million dollar initiative to help reforestation efforts
Binance Charity, the first-ever blockchain-enabled transparent donation platform, leads the most ambitious NFT tree planting project to date, to plant 10 million trees worldwide. Tree Millions Alliance launches next Tuesday on 28th September, led by Binance Charity. The initiative already has 17 crypto industry players confirmed to help with reforestation efforts and aims to have 100 members by 21st March, 2022 in celebration of the UN Day of the Forest.
The multi-million dollar fundraising campaign is open to both corporates and individuals. For every donation made an NFT certificate encrypted with the details of trees planted will be issued. It repurposes NFTs as a tool to track how donors’ money has been spent and record details such as the species of tree, where and when it’s been planted. As with all Binance Charity projects, 100 percent of the donation will go directly to the project execution partners.
“The crypto industry is young and constantly evolving so we recognise the role our industry needs to play in protecting the planet. Tree Millions is just one step towards mitigating our impact on the natural world; we’ll keep innovating and collaborating to reduce this further. Blockchain technology is a powerful tool for building a fairer, more transparent, and more equal future. We’re determined to continue unlocking this potential,” commented CZ, Founder and CEO of Binance.
Binance Charity is teaming up with Binance NFT, a world-leading NFT Marketplace for Tree Millions to plant the NFT in Metaverse to create the world’s largest virtual tree planting forest. In addition, Binance NFT will line up creators to take part in NFT for Good to drive fundraising efforts for Tree Millions. NFT for Good was first launched in June 2021 by Binance Charity and Binance NFT, with a vision to capture creativity to drive meaningful change. The NFT certificates produced for Tree Millions by Binance Charity will use Binance SmartChain, which uses less than 1% of the energy consumption of Bitcoin.
“The natural world is in crisis and we’re calling on the digital world to help. It’s increasingly clear that we’re all intrinsically linked so if we fail nature, we fail ourselves. We know trees are a critical resource in the battle against climate change and an essential part in keeping the balance to our fragile ecosystems that help to provide life on earth; that’s why we’re launching Tree Millions. We believe crypto is the future and we want to be part of a future that is green.” commented Helen Hai, Head of Binance Charity and NFT.
Binance Charity is working with established environmental non-profits to help execute the tree planting, such as One Tree Planted and Koala Clancy Foundation already on board with more to be announced soon. The first phase of the project is underway with a $2 million USD donation from Binance. Tree planting efforts have started in Australia, Canada, Germany, Ukraine, Kenya, Uganda, Ethiopia, Ghana, South Africa, Brazil, Mexico, Colombia, Argentina, India, Indonesia, Philippines, Vietnam and Thailand.
Tree Millions Alliance is one step towards Binance Charity and Binance’s shared vision for a greener crypto industry. Last year, Binance launched Binance Smart Chain (BSC), one of the leading green blockchains. If the Bitcoin network consumes approx. 113.89 terawatts per hour per year (TWh/year) and the traditional banking systems consume 263.72 TWh/yr; Binance Smart Chain consumes less than 1% of it. BSC is extremely eco-friendly and cost-efficient as a blockchain and as an NFT minting platform.
For more information contact:
Binance Charity | [email protected]
About Binance Charity
Binance Charity is a non-profit organization dedicated to the advancement of blockchain-enabled philanthropy towards achieving global sustainable development. Binance Charity aims to transfer philanthropy by developing a 100% transparent donation platform based on blockchain to build a future where technology innovation is used to end all forms of poverty and inequality, advance sustainable development and ensure that no one is left behind. To date, Binance Charity has supported over 1 million end beneficiaries through various projects.
Binance Triggers Elrond Mania! EGLD Price to “Moon-Soon”!
The global crypto space is moving vigorously by achieving a new ATH of a $2.67 trillion market cap. While Bitcoin and Ethereum are stealing the show with 3.70% and 9.75% gains in 24 hours, prominent altcoin Elrond came out of the box to compete with these star cryptos.
Binance Exchange Launches EGLD Staking Pool!
Elrond price remained constant for some time now with no significant gains. The platform came up with an exciting announcement on Thursday launching the EGLD staking pool on the Binance exchange. Besides, the exchange achieved a new milestone of 100 billion trades recently. The recent surge in its reputation gives the Elrond network the perfect blow in the near future.
New $EGLD staking provider: @binance
Log into Binance Earn & stake $EGLD for up to 55.49% APY.
100 $EGLD extra rewards offered to mark the occasion.https://t.co/QmJcNq2ztO— Elrond ⚡️ (@ElrondNetwork) October 21, 2021
The combo is giving massive perks to the traders. EGLD staking will enable trades to earn commissions up to 55.49% annual per yield (APY) and share 100 EGLD rewards worth $19000.
Traders can deposit and stake the token for 10, 30, 60, or 90 days to enjoy incredible annualized interest rates. The minimum locked staking limit is set for 0.2 EGLD.
Other than this, the platform is keenly working on several projects to facilitate maximum benefits for the community. Recently, Elrond announced a collaboration with Woodstock fund The partner announced the huge investment on a project to build anon-custodial stakingservice.
Elrond Price to “Moon-Soon”!
After a decent correction at $225 for the past week. The altcoin broke out at crucial resistance reaching the $250 mark at the press time with 6.01% profits in 24 hours. A closer look at the 1-day chart highlights that the altcoin has formed Ascending parallel channel. There is the likelihood that the altcoin is close to brake out since the pattern is approaching its convergence zone.
As more buyers are jumping in, the asset has the potential to surpass the $283 resistance mark. Another tug war could take place between buyers and sellers near ATH. If its recent staking program attracts new users, green candles could dominate outpowering the red taking the price rally beyond $300. On the contrary, the Elrond price could settle down below $225 if it fails to hold the present resistance.
Collectively, the rest of the quarter looks bright for the EGLD price action. Once Bitcoin’s dominance starts to depreciate well below 40, then Elrond could become the first altcoin to enter the splendid altseason. However, the asset is focusing more on fundamentals to dominate the fast-approaching technological revolution.
Binance’s Trading Volume Hits $100 Billion in Just One Day
Binance continues to see unprecedent trading activity while attempting to sail through regulatory hurdles
Binance’s daily volume hit an eye-popping $100 billion on Oct. 20, according to a tweet by CEO Changpeng Zhao.
The leading crypto exchange recorded this crucial milestone on the day Bitcoin, the largest cryptocurrency, reached a new all-time high of $67,276.
Despite introducing stricter measures for users due to severe regulatory scrutiny, Binance enjoys a comfortable lead over other crypto exchanges in both spot and derivatives trading, according to data provided by CoinMarketCap.
Eerier this month, the trading platform also announced a $1 billion ecosystem fund.
Meanwhile, the decentralized finance sector is catching up with centralized behemoths. The total value locked in DeFi protocols has hit $100 billion for the first time.
How Binance is protecting its users with responsible trading program
The sad reality is that a lot of fake news, scam messages and other fraudulent and defamatory materials are circulating the web, making it difficult for investors to know what information is legitimate and who they can trust. While trading can be fun and exciting, it can also lead to emotional or financial stress, especially when many dishonest parties manipulate the market.
Although bad people will always exist, traders can exercise caution by leveraging the principles of responsible trading. Responsible trading requires investors to execute control over their trades, knowing when they are in a suitable position to take on risks and taking accountability for their actions. By acting as a responsible trader, investors never take risky positions without research or invest funds they cannot afford to lose.
For this reason, Binance continues to focus on the ongoing development of their industry’s regulatory framework to help discourage bad actors from harming honest investors. Being a significant player in the cryptocurrency industry, Binance has also taken it upon itself to provide leadership to the market.
Over the past year, this has involved the development of ongoing partnerships with law enforcement and security firms to help improve cybersecurity measures across the broader cryptocurrency industry. The exchange has also continued to ramp up its in-house anti-money laundering (AML) detection and analytics capabilities and taken several additional actions to prove its commitment to responsible trading.
Although the topic might not be top of mind to some consumers, recent news would suggest these precautions are coming at a time more necessary than ever before. Binance continues to remain their resolve to bring to light these injustices and provide support however possible.
Why responsible trading matters
Some common examples of falsified information come down to bad actors pretending to be the exchange itself and sharing information that is untrue and can negatively impact a user’s account, such as using a fake link in an email to encourage users to provide their login information.
Other common concerns center around pump and dump schemes. Bad actors with a big holding in a given cryptocurrency will spread false information to drive up the price; as prices increase, they encourage other traders to “buy before it’s too late.” This becomes harmful when new investors go all in and invest their life savings away, only to have the asset crash before their eyes.
Of course, a final example is apparent with Fancycat, the international organization of cybercriminals responsible for over $500 million worth of ransomware crime. Many of these criminals often looked to cryptocurrency exchanges to safely funnel their earnings without being caught by the authorities.
Although very different examples, addressing these concerns comes down to one thing. Responsible trading.
A demonstration of commitment
To date, Binance has taken some additional steps to ensure responsible trading is maintained. Among them are:
- Limiting new platform users (accounts opened in the last 60 days) to maximum leverage of 20x
- Confirming plans to become a regulated financial institution, in addition to ensuring local licensing and compliance is maintained
- Restricting access to derivatives products in the financial hub
- Limiting new API key creation to verified accounts only to ensure safe and fair trading for market participants
- Becoming the first and only cryptocurrency exchange to introduce a responsible trading program
Upon taking a closer look at the responsible trading program, three key focus areas are apparent. They are practicing self-discipline, continually educating themselves, and protecting traders’ assets. In practice, these procedures include:
- Measures to limit impulsive trading actions, such as when a trader suffers a losing streak or loss, the platform will provide automated reminders of the risks involved in trading
- Cooling-off features for users to temporarily disable derivative trading abilities if they would like additional support in exercising self-discipline
- Price protection, a feature that prevents users from getting hurt by market manipulation by triggering stop-losses or take-profits when bad actors are manipulating the system
The team hopes that by sharing their learnings and any proactive measures they take, they can help steer their industry forward, now and long into the future.