1inch Network is a DEX aggregator that scours decentralised exchanges for the most profitable liquidity provider platforms. It provides users access to 116 sources on the Ethereum ecosystem, the [Binance Smart Chain](/news/article/bnb-price), and the [Polygon](/news/article/polygon-nft-drops-2022) Network.

The aggregation protocol employs various algorithms to perform its function, providing users with access to liquidity sources worth more than $30 billion.

Sergej Kunz and Anton Bukov, two Russian developers, created 1inch Network. They have expertise in smart contract auditing. Kunz and Bukov, both avid DeFi enthusiasts, began experimenting with arbitrage bots, creating the first medium viable product during the ETHNewYork hackathon in 2019.

Since then, the platform has raised approximately $15 million in funding and is governed by the 1inch Network Foundation, a non-profit organisation that launched the 1inch token in December 2020.

## How does the exchange work?

The 1inch Network protocol splits orders across multiple DEXs to find the best market price. The protocol employs a combination of arbitrage bots and other algorithms to accomplish what would require several pairs of hands working at breakneck speed from humans. Users can swipe tokens on three networks at the lowest prices thanks to 1inch Network.

## What is a 1inch token?

1inch is an ERC-20 token designed to serve as the 1inch ecosystem's governance and utility token. The token is available on various exchanges, including Binance, Coinbase, Uniswap, KuCoin, Gemini, and PancakeSwap.

The following are the primary applications for the 1inch token:

•	Utility: The [token](/news/article/crypto-coin-vs-token) can be used as a connector on the Liquidity Protocol to aid in efficient token swap routing.

•	 Governance: All governance votes on the 1inch Network require the token.

•	 Multi-chain: The token is accessible via a bridge on the Ethereum and BSC networks.

How to trade on 1 inch?

1. Connect your wallet 
Go to [1inch.io](https://1inch.io/) and click the "Connect wallet" button in the top right corner.
Select your wallet in the pop-up window (Metamask), and click the "Connect" button.
Your Ethereum address will be visible at the top of the page once the wallet is connected. You can always copy the address, disconnect the wallet, and check your transaction history by clicking on it.

 2. Basic settings
In the dropdown windows, select the coin you have and want.
You can also choose between 'Maximum return' and 'Lowest gas cost'. If you select the 'Maximum return' option, the algorithm will use complex swap routes to ensure you get the best rates.

You can also select the 'Lowest gas cost' option. In that case, the pathfinder algorithm will determine the most cost-effective option in terms of gas. This option is useful for small trades where you don't want to pay high fees, such as converting 10 USDT to WETH. Small transactions optimise fewer liquidity sources; thus, the option with the lowest gas cost will most likely deliver the lowest price. 

3. Swap the coin
Click on the "swap" button. And you get the coin you want at the lowest price.

## Benefits of using 1inch exchange

The primary benefits of using the [exchange](/news/article/best-exchanges-for-crypto-uk) are as follows: 

1.	User-friendly interface
2.	No additional transaction fees: The exchange does not charge any additional fees.
3.	Low swapping charges: Users can choose between different exchanges and actively select the best prices and gas fees.
4.	The platform is safe and secure for transactions. 
5.	Favourable crypto rates: The Pathfinder feature lets users quickly find the best rates for cryptocurrency exchanges.
6.	Increase liquidity: As a DEX aggregator, the exchange has access to over 50 DEXs with significant liquidity.

## Bottom line

1inch includes a slew of features, including an innovative governance model that aims to change the way decentralised networks are managed. With a market capitalisation of approximately $500 million, 1inch Network's ERC-20 token provides sufficient liquidity and provides traders and liquidity providers with a profitable and cost-efficient service.
 



A comprehensive guide to the 1inch Network

The "temporary" suspension is due to "irregular behaviour" and a "possible exploit," according to BNB Chain on [Twitter](https://twitter.com/BNBCHAIN/status/1578148078636650496). The team stated that all systems are now isolated, and they are examining the possible vulnerability promptly. It also asserted that all monies are secure. They had also halted all BNB deposits and withdrawals on the exchange due to "maintenance" on the Chain. 

However, Twitter user and DeFi creator "foobar" had a [different take](https://twitter.com/0xfoobar/status/1578140914283065344) on the matter. He said an attacker took 2 million BNB from "someone" on the network, which is worth around $600 million.

## Evidence of Binance hack

Foobar continued by saying that the attacker is dumping money into liquidity pools and using any bridge to go to safer chains. A snapshot from a block explorer showed the suspect had $532 million in crypto scattered over several EVM-compatible chains and L2s, according to the user. These include $421,000,000 on the BNB (79%) and another $53 million on Ethereum (10%).

The address's total assets are $421 million, matching the foobar snapshot. Which is supported by BNB data, which shows precisely 1,020,094 BNB parked at the same spot, valued at $288 million. 

According to the explorer, the address was previously detected as part of the "BSC bridge attack," as [revealed](https://twitter.com/AnciliaInc/status/1578155138857914368) by the Web 3 cybersecurity organisation Ancilia. Tether, the creator of the world's largest stablecoin, has already [blocked](https://twitter.com/0xfoobar/status/1578144109206073344) the account.

## Can funds be recovered from the Binance hack? 

[BNB](/news/article/bnb-chain-security-system) had recently [verified](https://twitter.com/BNBCHAIN/status/1578163230790520832) that about $70 to $80 million in assets vanished from the platform before being suspended. Another $7 million of the escaped monies became blocked due to "the community" and [Binance's](/news/article/binance-bridge) "internal and external security partners." 

The business also acknowledged several organisations for their assistance, including CertiK, Ankr, and Coinbase Cloud.



$600mil Binance hack leads to BSC pause

AvengerDAO is a new community-driven security project that BNB Chain has created, the native blockchain of Binance. Its purpose is to protect users from fraud, harmful actors, and possible exploits.

[The decentralized autonomous organization (DAO)](/news/article/daomaker-guide) with a focus on security was established in collaboration with well-known crypto projects and industry leaders in the field of information security, such as Certik, TrustWallet, PancakeSwap, and Opera, to name just a few.

A passive application programming interface (API) called Meter, a subscription-based alert system called Watch, and a programmable fund management system called Vault make up most of the AvengerDAO security endeavour.

These three core components are referred to collectively as "Vault." AvengerDAO will add layer protection whenever a user on the BNB Chain interacts with any applications or counterparties. The Meter API system retrieves security ratings on smart contracts, domains, and addresses and notifies users if there is a weakness in the system's security.

## BNB Chain unveils a new mechanism managed by the network's community

The Watch system provides real-time notifications to users about active exploits. The Vault functions as an escrow service, holding users' assets until certain pre-determined criteria are satisfied before releasing those funds.

[Gwendolyn Regina, investment director at BNB Chain](https://cointelegraph.com/news/bnb-chain-launches-a-new-community-run-security-mechanism-to-protect-users), explained how the community would be responsible for security decisions. She also stated that the community would survey existing security auditing service providers to determine the types of common security vulnerabilities that are currently present. She said, "We believe that when other expert security audit firms become members of the DAO, we will jointly obtain a greater understanding of the security landscape, and we will work toward improving it."

From the beginning of September, users of PancakeSwap can retrieve the security ratings of smart contracts with which they are interacting if certain members of AvengerDAO, such as the security decentralized application (DApp) Hashdit, have already released an integration with PancakeSwap. 

BNB Chain has placed a particular emphasis on the safety of its users and has introduced several new safety measures in the previous few months. Before the AvengerDAO debut, the BNB Chain introduced Dappbay with an innovative feature called Red Alarm that launched before the AvengerDAO launch. This function analyzes the risk associated with the project in real time and notifies users of potentially dangerous DApps. Within a month after its introduction, the DappBay Red Alarm function recognized more than fifty on-chain projects as a significant threat to users.

During July alone, the safety feature assessed 3,300 contracts. AvengerDAO aims to become a multidimensional security initiative focusing on detecting real-time vulnerabilities and exploits, in contrast to Red Alarm, which was only intended to flag vulnerable smart contracts and projects that posed a financial risk. Red Alarm was created to identify projects and smart contracts that posed a financial risk.



BNB Chain introduces a new security system

According to a series of letters sent on Tuesday morning, the 30th of August 2022, House Committee on Oversight and Reform requested information and documents from four agencies and five digital asset exchanges. [Coinbase](https://www.cnbc.com/quotes/COIN), FTX, Binance.US, Kraken, and KuCoin were among the parties contacted about what they are doing to protect consumers from scams and combat cryptocurrency-related fraud.
 
The letters request that government authorities and cryptocurrency exchanges respond by the 12th of September with details regarding their efforts to protect customers. According to the committee, the respondents' feedback will be utilised to develop legislative solutions.
 
The letters specifically request that the exchanges produce documents dating back to the 1st of January 2009. To demonstrate efforts to combat crypto scams and fraud, as well as efforts to identify, investigate, and remove or flag potentially fraudulent digital assets or accounts, as well as discussions about "whether to adopt more stringent policies.
 
In one letter to Sam Bankman-Fried, CEO and creator of FTX, the committee states that although some exchanges evaluate cryptocurrencies before listing them, others allow digital assets to sign up with little or no verification.
 
According to FTC analysis, more than $1 billion in cryptocurrency has been lost to fraud since 2021.
 
## Congress looks at crypto schemes developed by companies

Chainalysis, a blockchain analytics firm, discovered that [37% of crypto scam money](https://www.cnbc.com/2022/08/30/coinbase-ftx-binance-get-inquiries-from-congress-on-crypto-scams.html?__source=google%7Ceditorspicks%7C&par=google#:~:text=Blockchain%20analytics%20firm%20Chainalysis%20found,then%20vanishing%20with%20the%20funds.) last year went to "rug pulls". A rug pull is when someone lists a token on an exchange and invests in it to increase the price and market demand before selling the position at a premium and disappearing with the proceeds.

Binance US, which received an [investigation](https://www.reuters.com/legal/litigation/new-binance-class-action-likely-clears-one-hurdle-faces-plenty-others-2022-06-14/) from the committee on Tuesday, has been charged in a class action complaint with deceiving customers about the safety of investing in [terraUSD](/news/article/terra-usd) (UST) and its sister token, Luna.

The terms and conditions of the investor-crypto exchange agreement also differ, which needs to be standardised.
Agencies will continue infighting and cannot successfully implement consumer and investor safeguards relating to cryptocurrencies and the exchanges on which they are traded unless clear definitions and advice are provided. 






Congress investigates crypto firms scam protection

## How UK users can fund their Binance account

### Step 1: Register an account

UK Users can register for a Binance account with their email or phone number from the  App,  website, or desktop app.

### Step 2: Complete verification

UK users can complete [identity verification](https://www.binance.com/en/support/faq/360027287111) on their Binance account to unlock the Fiat deposit and withdrawal limits, which includes verifying their basic account information, providing ID documentation, and uploading a picture.

### Step 3: Buy crypto

## Deposit Fiat 

Users can deposit up to 50+ Fiat currencies, such as EUR, BRL, and AUD, to their Binance UK account using bank transfer and bank cards. Once deposited, they can use them to buy crypto directly.

## Buy crypto using a debit/credit card

Users can also buy crypto directly using their credit/debit card on the Binance website or the lite mode on the Binance app.

## Buy crypto via P2P

Users can also go to the [Binance P2P](https://www.binance.com/en/support/faq/360043832851) page, select "buy crypto", and click "P2P trading" on the top navigation.

Investors can select the currency they want to buy. They can also filter the price and the "payment" in the drop-down, select an ad, and then click "buy".

Investors must enter the amount or quantity they want and click "buy."

The payment method and amount confirmations are on the order details page.

Investors must complete their fiat transactions within the payment time limit. Then click "transferred, next" and "confirm".

Once the cryptocurrency is released and the transaction completed. Users can click "transfer to spot wallet" to transfer the digital assets to their spot wallet.

Users can also click "check my account" above the button to view the digital asset they just bought.

Make a deposit or transfer crypto from the existing wallet

Users can log in to the Binance UK account and click wallet-overview 

Users then click deposit and see a pop-up window with the following options. 

1) Make a crypto deposit
2) Make a Fiat deposit

If users choose the crypto deposit option, they can select between [BTC](/coins/btc), ETH, USDT, BNB and EOS.

Next, investors choose the deposit network; however, users must ensure the selected network is the same as the platform they are withdrawing from to avoid losing funds.

Users can select BNB, BSC, ETH, SOL, and TRX.

Users must click to copy their Binance UK wallet's deposit address and paste it to the address field on the platform that they intend to withdraw crypto.

The transaction can take time to approve, depending on the blockchain and its current network traffic.

Funds are credited to the user's Binance account right after.

### Step 5: Explore Binance UK products

## Spot trading

Users can trade hundreds of cryptocurrencies in the spot market, including BNB. As well as develop tokens on the Binance smart chain.

Be warned, Binance is cheap to buy but could cost you your coins

As a last word of caution, be weary of keeping your crypto in Binances hot storage wallet, as, they have been known to be hacked and for suspending withdrawals to UK customers. 

What’s more, as they operate in an unregulated industry there is limited to no accountability and guardrails. Binance recently halted Bitcoin withdrawals, citing technical difficulties. According to a tweet, the platform momentarily suspended bitcoin withdrawals early on Monday, June 13, 2022, due to a stalled transaction producing a backlog. 

It may be cost effective to buy your crypto currency on Binance and transfer it to a cold storage wallet such as a Ledger. Consider transaction costs (network fee’s) to transfer coins out from the Binance and understand the risks of buying and holding your coins on the platform.


Guide to the Binance platform for UK users

Earlier today, Binance Labs, the startup capital and accelerator arm of BNB, made public its strategic investment in Ankr, the Web3 powerhouse known for its decentralized infrastructure.

Ankr's substantial open-source contributions to Binance's BNB Chain, BNB Liquid Staking, and general ecosystem support are primary drivers that attracted the investment from Binance Labs.

## What is Ankr?

In essence, Ankr facilitates the launch of blockchains for businesses, allowing them to provide superior Web3 experiences to their customers in record time. The protocol, scheduled for release in 2021, will eventually process 200 billion Remote Procedure Call (RPC) queries each month across 50 different blockchain networks.

[Specifically, Ankr's COO Ryan Fang said](https://en.cryptonomist.ch/2022/08/11/binance-labs-makes-strategic-investment-in-ankr/): The addition of Binance Labs as a strategic investor fills us with joy. With the most daily transactions and users, BNB is clearly the leader. 

Ankr serves over 7.2 billion daily blockchain requests on over 30 different blockchains, making it the second largest node provider (after Alchemy). 

The possibility is to further serve its customers, they plan to invest the funds towards expanding its market-leading RPC service and its portfolio of Web3 development tools, which currently includes the Liquid Staking Software Development Kit (SDK), the Web3 Gaming SDK, and the App Chains As A Service.

In addition, their Protocol processes over 7 billion blockchain requests every day across the 18 blockchains on which it provides RPC hosting. The fact that all [BNB initiatives](/news/article/binance-staking) and users stand to gain greatly from Ankr's improvements to the network is another reason for Binance Labs' endorsement of the project.

As previously mentioned, Ankr is responsible for most of BNB's foundational architecture, including the Erigon update, the Archive Node upgrade, and the most recent BNB Application Sidechain (BAS) scaling solution. 

Yi He, a co-founder and manager of Binance will be leading the incubator's venture capital (VC) division.

Yi He will be responsible for Binance Labs' general direction and day-to-day operations, with some of his time spent bolstering infrastructure initiatives and enhancing the practical applications of cutting-edge crypto and blockchain endeavors.


Ankr receives significant investment from Binance

Monero is a cryptocurrency that prioritizes user privacy and has one of the most dedicated communities in the cryptocurrency business.

However, investors in the UK frequently struggle to figure out how to exchange Monero (XMR) for British pounds. This article offers a solution to the problem by identifying exchanges from which users can withdraw their Monero holdings.

In other words, you will get the knowledge necessary to sell XMR for GBP or transfer Monero to a bank account in the shortest amount of time feasible.

## A quick ways to sell XMR on Binance in exchange for GBP

[Create an account on Binance](https://www.binance.com/en) and go through their full KYC verification process.

•	Navigate to Wallet > Spot and Fiat.

•	On the wallet, search for XMR and click the Deposit button.

•	Make a copy of the address that has been provided, and then send the funds from your personal Monero wallet.

•	Once the confirmation is complete, navigate to Trade > Convert.

•	When converting to BUSD, choose XMR as the currency (1 BUSD = $1).

•	You may finish the conversion by entering the amount you want to convert to BUSD.

•	Once this step is finished, repeat the previous steps to convert BUSD to GBP.

•	You should now navigate to Wallets > Fiat and Spot.

•	On your British pound wallet, select the Withdraw option.

•	You will be asked to enter the amount you wish to withdraw and your account or card information.

•	Start the withdrawal process, and Binance will move the money from the escrow account to your specified account. 

The preceding illustration presupposes that you already possess XMR stored in a personal wallet and just wish to pay it out
[Binance](/news/article/binance-bridge), which is one of the largest cryptocurrency exchanges in the world, allows users to trade Monero using a variety of different pairs.

Peer-to-peer (P2P) trading is an additional means for people living in the United Kingdom to cash out their Monero holdings on Binance. 

Verification is necessary to access any of the fiat gateways, and this includes P2P trading. How to go about it:

•	Initiate the Know Your Customer (KYC) procedure by registering for a Binance account.

•	Navigate to the Wallet > Fiat and Spot menu.

•	Navigate to your XMR wallet and select the deposit button.

•	Make a copy of the address that has been provided, and then finish the transaction using your external wallet.

•	Navigate to the Trade menu, select Convert, and change the XMR to USDT (You can also convert XMR to BTC) -Go to Trade>P2P.

•	Ensure that the currency is set to GBP, and then flip the Buy to Sell button offered. -When asked which coin you want to sell, select USDT (or BTC if you converted to it).

•	Choose a buyer with a high percentage of successful transactions and an offer corresponding to the price you wish to sell for.

•	To complete the transaction, go to the order, click the Sell button, and add a payment method to your account.

•	Begin placing the order and then wait for the vendor to transfer the payment to the GBP account you supplied.

•	Once you have the notification of the deposit from your bank, verify that you have received it. Finally, the following methods can be used to withdraw funds: bank transfers, credit cards, and debit cards.


How to  exchange Monero (XMR) to GBP in the UK

The Binance Smart Chain protocol is a blockchain technology that provides developers with a way to create their own decentralized applications. It's based on the Binance Chain, which is the mainnet that Binance uses to issue and trade its own cryptocurrency, Binance Coin (BNB).

Developers who want to use the Binance Smart Chain protocol can do so on a white label basis. This means they can create their own applications using the protocol, and they don't have to use the Binance name or branding.

## How does the Binance Smart Chain protocol work?

With a Proof-of-Stake consensus method, Binance Smart Chain achieves block times of under three seconds. For example, participants stake BNB to become validators in a process known as Proof of Staked Authority (or PoSA). They will be compensated with transaction fees from the transactions contained in the block if it is proposed.

Because BNB is not inflationary, it should be noted that, in contrast to many protocols, there is no block subsidy of newly created BNB. On the other hand, because the Binance team often conducts coin burns, the quantity of BNB gradually diminishes over time.

The Binance Smart Chain protocol is a developer's dream come true. It allows them to create their own blockchain platforms that are powered by BNB, the native token of the Binance exchange.

## Here's how it works for developers: 

Developers can create their own smart contracts on the Binance platform and then use BNB to power them. This is a huge step forward for the blockchain world, as it opens up a whole new level of flexibility and customisability for developers.

And it's not just developers who can benefit from the Binance Smart Chain protocol—businesses can also use it to create their own blockchain platforms. This allows them to bypass the need for expensive and time-consuming custom development, which is great news for small businesses who want to get in on the blockchain action without breaking the bank.

The Binance team has created an incredible platform that's opened up a whole world of possibilities for developers and businesses alike.

## What is a BNB coin?

Binance Coin (BNB) is the trading token for the Binance cryptocurrency exchange. It was initially introduced on the [Ethereum](/coins/eth) blockchain before moving to the Binance Smart Chain, currently known as the BNB Chain.

## Current BNB price

As for the current BNB price, it's hovering around $318.27 and has an estimated market cap of $ 51.35B. BNB has increased by 5.99 percent during the past 24 hours. It has a USD 161.34 million circulating supply. 


What is the BSC protocol BNB price?

Are you interested in purchasing supermoon coins but unsure how to buy them? Read this guide to easily get the cryptocurrency through the Binance exchange. 

To buy cryptocurrencies, different procedures need to be followed. The reason is that they are available on an array of exchanges, and not all of them can be compatible with your existing wallet. That’s why getting a new coin is always a struggle. 

[Supermoon coin](https://coinmarketcap.com/currencies/supermoon/) is one such cryptocurrency which is quite challenging to purchase. To help you figure out the tricky process, here’s a simple guide for buying OSM crypto!

## How do I get the Supermoon Coin?

The following easy steps will guide you through the buying procedure for the OSM coin.
1.	Get your [Binance](https://www.binance.com/en) Wallet
Firstly, you need to get a [Binance](/news/tag/binance-tag) wallet on your device. You can easily download it on your PC with the Google Chrome extension or Apple Store. You can also install it on your Android or iOS phones via Google Play or iOS Store. 

2.	Create your Binance account
Secondly, you would need to set up your Binance account by filling in all your personal details. Then create a strong password, verify the account, and enable two-factor authorisation. Also, ensure the safety of the seed phrase provided to you and note your account address.

3.	Purchase BNB chain
To buy the Supermoon coins, you first need to purchase a Binance crypto chain. For this, sign in and go to ‘buy and sell crypto’. It will give you options like bank transfer, credit card, P2P trading, etc. Select your desired option and proceed to buy BNB, and save them to your Binance wallet.

4.	Transfer BNBs to your wallet
After that, you need to transfer this coin(s) to your wallet. Go to your wallet and look for the withdrawal button. This will lead you to a form where you have to fill in your personal details like email, phone number, account address, and the amount you want to share. Set the network as a BNB chain for a smooth transaction and proceed with the withdrawal.  

5.	Connect your wallet with an exchange
Once you have transferred Binance coins to your wallet, you can look for an exchange to trade it for the OSM coin. One of the trusted decentralised exchanges for getting the cryptocurrency is Pancake Swap. You can link your wallet with it and trade it for Supermoon. 

6.	Swap your BNB chain for Supermoon Coin
Finally, to swap BNB with OSM, you firstly need to select it as your required coin. Besides, BNB will be your payment token. Now, you will be ready to proceed with the swap. It will turn your BNBs into Supermoon coins, and you can use them for any purpose. 

## Bottom line

Purchasing OSM can be tricky, but you can easily acquire them once obtaining Binance coins. Firstly, create your wallet to purchase and transfer BNBs there. After that, link it to a reliable exchange and swap your BNBs with Supermoon coins. 




How to buy Supermoon Coin (OSM)?

Little Baby Doge is an altcoin operating with a very familiar name. If you have been in the space for a while, you'll know that Dogecoin is a well-known cryptocurrency. Little Baby Doge is a member of the Dogecoin family, but a separate crypto coin from [DOGE.](/coins/doge)

Here’s everything you should know about this altcoin.

## What is it?

Little Baby Doge, or LBD, is a hyper-deflationary altcoin created by an international group of climate activists who seek to combat climate change. The LBD project aims to reduce global warming.

The LBD altcoin is a native BEP 20 token built on the [Binance Smart Chain (BSC)](https://www.binance.com/en/blog/ecosystem/introducing-bnb-chain-the-evolution-of-binance-smart-chain-421499824684903434), a blockchain network that supports smart contracts. The network is a creation of the Binance exchange, one of the world’s largest crypto exchanges.

As a BEP 20 token, LBD has several use cases on the Binance Smart Chain. The tokens can, for example, be swapped for other BEP 20 tokens. They can also be used for NFTs and other digital assets.

LBD tokens were launched in November 2021, the same time its parent platform was being launched. No sooner had the tokens hit the market than they quickly hit an all-time high of 0.000000007938. According to the LBD team, the coins have a supply cap of 420 quadrillion.

## Little Baby Doge features

Some of the features that enable LBD to stand out include;

•	Buyback function: Buyback involves a project using its resources to repurchase some of its tokens, limiting its supply and increasing its overall value. Buyback is a major part of LBD's strategy.
•	Coin burning: Coin burning is a common practice among many altcoins that seek to limit their supply. It involves periodically burning coins, effectively eliminating them from existence.
•	Liquidity pair acquisition: Another great function of LBD, LP acquisition involves adding coins as a liquidity pair on decentralized exchanges, in this case Pancake Swap.

## LBD ecosystem

The LDB ecosystem has everything required to meet the needs of individuals in terms of products and services.
The project has an informative LBD wallet, an LBD Exchange and Farms platform, and an LBD lottery. The LBD Wallet provides news and updates about the LBD tokens, while the exchange and farms platforms offer users a place to swap all BEP 20 tokens.

The project also features an LBD NFT marketplace and auction house for its exclusive NFTs and an LBD Merch store. There is a "Change the World" Platform where the community, any individual, or organization can connect and donate to worthy climate change organizations.

On the plus side, at the beginning of 2022, LBD launched a play-to-earn platform where users can play games designed to raise awareness about climate change and earn tokens.

## Conclusion

LBD looks like a promising altcoin. Its features and many projects behind it can help elevate its value.
However, the coin looks like it has some distance to go before it gets to where Dogecoin and other popular altcoins are.


Little Baby Doge: Everything You Should Know

Binance is one of the world's major cryptocurrency exchanges. However, the firm has received criticism from authorities due to lack of necessary permissions.

The latest Binance news covers the exchange platform being [fined 3.3 million euros (£2.8million) by the Dutch Central Bank (DNB)](https://watcher.guru/news/heres-why-the-dutch-central-bank-fined-binance-for-3-3-million) in April 2022. The penalty was levied because the exchange provided services to Dutch nationals without being properly registered. The DNB's General Fine Setting Policy was used to calculate the amount to be paid as fine.

In a statement issued on Monday, the regulator stated that violations committed by Binance are punished by third-category penalties, with a base amount of €2 million (£1.7 million).

This basic amount was increased for Binance, with DNB outlining many reasons for doing so.

According to DNB, one of the reasons is that digital asset brokerage behemoth is not only the largest supplier of crypto services globally but also has a high number of consumers in the nation.

Since May 21, 2020, the Dutch Central Bank has mandated virtual asset service providers (VASPs) to be registered under the Anti-Money Laundering and Anti-Terrorist Financing Act.

According to the authority, Binance violated the registration regulations from May 21, 2020, until last December 1, 2021, when DNB finished its inquiry.

According to DNB, this is the major reason for the higher penalties because these offences are considered extremely serious.

DNB warned Binance in August 2021 that operating in the Netherlands without the appropriate legal registration "may increase the risk of customers becoming involved in money laundering or terrorist financing."

However, the DNB stated that it has reduced the punishment by 5%, partly because Binance has already submitted a registration application, which is presently being reviewed, and because the exchange has been "relatively transparent about its operations throughout the process."

The crypto exchange has been steadily expanding across Europe. Binance revealed last week that its Spanish subsidiary, Moon Tech Spain, has been registered as a VASP with the Bank of Spain.

Both France and Italy certified the crypto exchange as an official digital asset supplier in May of this year.

Read [Latest Moni](/news) for more crypto news. 



Binance news today: DNB fined Binance 3.3 million euros

The Eclipse crypto project is a Binance Smart Chain-based utility token. The currency will be used to purchase features on Eclipse-built platforms, with Eclipse Charts, a charting platform for BSC tokens, being the first to be unveiled.

The Eclipse token will be used for:
1.	Payment for new Eclipse platform features 
2.	Advertising and boosting on Eclipse platforms

Eclipse token holders will be rewarded if they spend their Eclipse tokens.

Every transaction is taxed with a 6% fee, of which 3% is redistributed to all token holders at the time. The remaining 3% is split in half, with 50% sold by the contract into BNB and the remaining 50% automatically paired with the aforementioned BNB and added to PancakeSwap as a liquidity pair.

The developer retains 1% of the total, while the remaining 4% is held in dxsale token lock for 3-6 months.

## Eclipse crypto current price

The current Eclipse price is $1.40e-9, and the 24-hour trading volume is $193.50. Eclipse has increased by 1.14% in the previous 24 hours. It currently ranks #7138 according to the CoinMarketCap ranking, and the live Market cap is not provided. The circulating supply is unknown, with a maximum supply of 1,000,000,000,000,000 Eclipse coins.

## Eclipse price prediction

There is a possibility that the ECP coin will go to $0 in the near future as the ECP project is nearly dead. It has not shown any development since last year. Their last tweet was on the 29 November 2021, which stated that they are working on reprogramming the more significant parts of EclipseCharts, and the ECP would move to Moralis Framework so that they can speed up further development.

Users have complained and some even advise staying away from the project. Some argue that ECP should not be allowed to trade as it is a dead project. Considering these points, the future of ECP is not looking bright, and it may go to $0 by the year 2024.

Also, if you look in more detail, the 24hr trading volume of this project is less than $200. This makes it a very unpopular option in the market.

If you're looking for a place to buy Eclipse at the moment, PancakeSwap is the best cryptocurrency exchange for trading Eclipse tokens. It could be seen as a very risky investment, with little to no information coming out from the team. This could even mean the project is not even as serious as it should have been. You must wait and watch, and see what's happening and if there is any update. Until then, you could look at the other solid projects and safeguard your investment.

## Why do you need to re-think before investing in Eclipse?

The [Eclipse](https://coinmarketcap.com/currencies/eclipse-ecp/) project aims to use its Eclipse tokens as payment for new Eclipse platform features. However, we do not have any news about this platform or any information on who would use or advertise on Eclipse platforms, especially when there are already social media giants with millions of users every day.

No further update since November forces us to consider whether the project is still alive and functional or not. Also, many of the tweets use the phrase "our service providers", which somewhat indicates an outsourced tech team that's working on providing updates.

To be clear, there's nothing bad in outsourcing the work, but if we don't have any idea of who constitutes the core team, their capabilities, and what their ambitions are, it becomes a difficult choice to invest in such projects.

Also, Eclipse Charts, the most hyped development by the Eclipse team to date, remains the sole significant achievement in the past year. So, it would be a better decision to wait and understand more about the future of the project before jumping in and hoping it to be the next Solana.

For more crypto coin news, check out [Latest Moni](https://monitalks.io/news/category/crypto-coin-news).

Eclipse Crypto Explained

Binance announced on Monday, 30 May 2022, that it will be rewarding users who are staking BiSwap Coin (BSW). The promotion duration is 1pm UTC on 30 May to 12:59pm UTC on 9 June.

This [Binance Staking promotion](https://www.binance.us/en/staking) celebrates BiSwap's first anniversary as a cryptocurrency exchange after joining the market in 2021. This promotion is open to all Binancians who are fully verified.

## Why Does It Matter?

Binance remains the biggest cryptocurrency exchange by volume. Aside from this, Binance Staking is one of the best when it comes to rewarding users with high annual percentage yields (APY). BiSwap is one of several decentralised digital asset trading platforms in the space.

As of May 2022, every exchange has created a token that supports the fortunes of their respective platforms. Binance has Binance Coin (BNB) and BiSwap has BSW. 

BSW was added to Binance in March 2021, and the trading pairs of BSW/BNB, BSW/BUSD, and BSW/USDT were made available to traders across the globe. 

In May, BSW recorded a minimum and maximum trading volume of $30 million and $115.87 million, respectively, signaling impressive investor interest. 

This corresponds to market capitalisation of around $135 million (small-cap), which has made BSW a top 250 digital asset in terms of ranking. 

As part of its first anniversary, Binance Staking has made available two (2) promotions to increase the mileage of BSW and contribute to extensive demand for the coin, which will positively impact its price in the future.
Binance Staking Promotions for Biswap Coin (BSW) 

The first promotion is to deposit and stake BSW to get a chance to share $370,000 in BSW tokens. Overall, you can enjoy up to 107.59% annual percentage yield (APY). From 30 May through to 9 June 2022, you can engage in locked staking on Binance and see daily payouts.

For this promotion, Binance has capped the maximum limit per user to 100,000 BSW for 30 days, 10,000 BSW for 60 days, and 300 BSW for 90 days. 

The second promotion is primarily reserved for users who are new to locked staking. The first 6,000 new locked staking users on Binance will have the opportunity to share $37,000 in BSW rewards. 

When the agreed staking period ends, Binance Staking will return staked assets to users' respective spot wallets.

As of writing, BSW was changing hands for $0.6. This means that you need $60,000 to buy 100,000 BSW for 30 days of staking, $6,000 to purchase 10,000 BSW for 60 days of staking, and $180 to get your hands on 300 BSW for 90 days of staking. 

If you do not have thousands of dollars to spare, you stand a great chance of earning BSW rewards by staking $180 or more.

## About Binance Staking and BSW 

Launched in September 2019, Binance Staking has the purpose of being a value-added service to Binance users. With Binance Staking, Binancians can grow their portfolios by receiving periodical rewards and distributions by simply depositing and holding funds for a given time on the biggest exchange across the globe.  

Launched in 2021, BSW is the native asset of the first decentralised exchange platform on the market with a three-type referral system that comes at low fees. BSW is the governance token of the exchange and has a total supply of 700 million.  

Aside from Binance, BSW can be accessed on around 14 exchanges: Gate.io, Kucoin, AAX, Bitget, CoinTiger, Bitrue, Nami, MEXC Global, CoinEx, Folgory, BingX, BKEX, Hoo.com, and LBank.

More [Crypto Business news](/news/category/crypto-business-news).


Binance Staking Launches 107.59% APY

On April 20, 2022, [Binance](https://www.binance.com/en), a leading cryptocurrency exchange, launched a Twitter emoji that it later deleted due to its resemblance to the swastika. The swastika is a symbol associated with Nazism.

The emoji was an image of a golden square with four Ls for arms. Its resemblance to a swastika was clear as day to many Twitter users.

One tweeted: "The new Binance emoji is a literal swastika” Another tweeted that on a scale of one to 10, they'd give it a "Nein….".

Other Twitter users also pointed out that the date the emoji launched coincided with Adolf Hilter’s birthday.

After the public outcry, Binance deleted the emoji. So did the CEO, Changpeng Zhao, who also had it up on his Twitter page. The exchange then tweeted: “Well, that was obviously really embarrassing.

“We’re not sure how that emoji got through several layers of review without anyone noticing, but we immediately flagged the issue, pulled it down, and the new emoji design is being rolled out as we speak."

## Twitter Hashflags

Binance created its controversial emoji using Twitter’s branded hashtag feature. Through the feature, companies can design their own custom emojis and include them in hashtags to promote their business. The emojis are also known as hashflags.

Hashflags are images that appear after a tweeted #hashtag. They are embedded on Twitter and enabled for specific occasions or events. Twitter hashflags disappear after a limited time has lapsed, leaving the hashtag. Branded hashflags can cost a company a million dollars.

## Binance Twitter Woes

Binance is the world's largest cryptocurrency exchange by trading volume. It is accessible in many countries across the globe, supports more than 500 different cryptocurrencies, and features low fees. It is also feature-rich.

As good as Binance may be, the exchange is not short of problems. The Twitter emoji issue is only one of those.
The crypto exchange is reportedly under investigation in the US for helping in Bitcoin transactions worth around $716 million in 2019 associated with criminal activities.

Several countries have in the past banned Binance. In 2021, the UK’s financial regulator, the FCA (Financial Conduct Authority), banned Binance from operating in the UK. In the US, citizens cannot use Binance to buy or trade crypto. Instead, they have access to Binance US, which is quite limited compared to the internationally available Binance. The exchange is also not regulated in many countries.

## Final Word

Binance's Twitter emoji problem was easily solvable. Many people continue to wonder if the emoji was an intentional move by the company or something that was an innocent mistake. The emoji is no longer in use, but the damage has already been done for some people.

More [Crypto Business news](/news/category/crypto-business-news).


Binance Twitter and THAT Emoji! 

## Are you using [Binance](https://www.binance.com/en) Bridge?

If you're a Binance user, then you know that their BNB tokens are essential to using the exchange. But what happens if you want to use those tokens on a different platform? 
Or what if you want to sell them for another currency?
That's where the Binance Bridge comes in. You can easily convert your BNB tokens into any other currency with this tool.

Here we discuss how to use the Binance bridge and explain why it's such an important tool for Binance users.

## What is the Binance Bridge?

It is a tool that allows users to convert their BNB tokens into any other currency easily. This can be helpful for two reasons.
To begin with, it allows users to use their BNB tokens on different platforms. It also provides a way to sell your BNB tokens for another currency.

## How to Use the Binance Bridge?

The Binance Bridge is easy to use. To convert your BNB tokens into another currency, all you need is the address of the destination wallet. Then, enter the amount of BNB tokens you want to convert and click "Convert." The Binance bridge will take care of the rest.

After a successful conversion, you can see the results in the "Transactions" tab on the top right corner. You will receive a confirmation email when the conversion is complete. The Binance Bridge supports multiple trading pairs and can be used to convert between any supported pair (such as BNB/[ETH](/news/category/ethereum-news-today) and BNB/[BTC](/news/category/bitcoin-news).

## How Do You Set Up a Bridge Binance?

Binance Bridge is a service that helps you easily connect your Binance account to another application. To set up Binance Bridge, log in to your Binance account and go to the settings page.

Then, click on the "API" tab and generate a new API key. Next, open the Binance Bridge application and input your Binance API key.
Finally, choose the Binance account you want to connect to and click "OK." That's it! Binance Bridge will now help you easily manage your Binance account from within another application.

## How Do We Bridge Binance to MetaMask?

To bridge Binance to MetaMask, you will first need to create a Binance account and to deposit some funds. Then, install the Binance Bridge extension into your MetaMask wallet.

Once you have installed the extension, you are able to connect your Binance account to your MetaMask wallet and use your Binance funds in MetaMask.
This will allow you to use your Binance funds to interact with decentralised applications (dApps) in MetaMask. To disconnect your Binance account from MetaMask, you simply remove the Binance Bridge extension from your MetaMask wallet.

## Conclusion

In addition to converting cryptocurrency from one wallet to another, the Binance Bridge app can be used to convert BNB tokens directly to fiat currency.
This way, users do not have to move their funds to another wallet and can enjoy the benefits of the platform with minimal hassle. 


Latest Moni

Latest Binance News

Read the latest binance news

A comprehensive guide to the 1inch Network

$600mil Binance hack leads to BSC pause

BNB Chain introduces a new security system

Congress investigates crypto firms scam protection

Guide to the Binance platform for UK users

Ankr receives significant investment from Binance

Is Lunar Crypto Price Ripe for Recovery?

Digibet Token Price: What's Happening?

: Fantom Crypto Price Prediction 2025