The crypto exchange stated that BFUSD is a high-yield token but has not yet launched.
Here are the latest developments from the crypto world.
The crypto exchange stated that BFUSD is a high-yield token but has not yet launched.
On November 17, crypto news aggregator Zoomerfied posted on X that Binance would introduce a stablecoin with a 19.55% annual yield, which led to comparisons with TerraClassicUSD (USTC).
Binance responded on X, confirming that BFUSD is an unreleased reward-bearing margin trading product.
They emphasized that BFUSD is not a stablecoin but a reward-bearing margin asset for futures trading.
Traders will hold BFUSD in a 'UM wallet' and receive daily airdrops in their 'UM Futures Wallet' based on snapshots. Users will have a limited BFUSD quota based on their social ranking, referred to as their 'VIP level,' on the Binance platform.
Web3 game Hamster Kombat intends to 're-engage' with its season one participants and draw in new users despite a recent drop in monthly active users (MAU). Although the popular Telegram clicker game hit a record 300 million users in August, the excitement has since waned, leaving the game with around 30 million MAUs.
Nonetheless, a Hamster Kombat spokesperson told Cointelegraph that the decline was expected. The Hamster Kombat team mentioned that interest fluctuates but will increase again with any project.
'Since our project has seasons, this is anticipated. We’re currently in the interlude period, preparing to launch the second season,' the spokesperson said. 'Even during this mid-season phase, our MAU metric remains above 30 million, indicating sustained interest.'
The spokesperson further noted that the team is 'planning to re-engage' with season one participants while seeking to attract new players.
Recently, memecoins have become incredibly popular, even surpassing Bitcoin (BTC) in search interest.
Fueled by humor, internet culture, and the excitement of quick profits, memecoins currently have a combined market cap of $126 billion.
However, this surge in popularity brings challenges, particularly regarding trust. The market is mostly filled with projects valued below $1,000, with only a small percentage exceeding the $10 million mark, causing investors to question the reliability of these projects.
Despite their potential, the memecoin space is often clouded by skepticism, as many projects have failed to maintain trust.
Thus, finding a trustworthy project with genuine dedication has become crucial for the growing memecoin community.