Binance continues to work towards increased transparency and ease-of-access when it comes to information that helps users. Some of our efforts: 🔸 Proof of Reserves 🔸 Proof of Collateral for B-Tokens 🔸 Fees Dashboards Find more here ⤵️
Last year saw a number of high-profile breaches of trust in the digital asset industry. As a result, rebuilding trust and improving transparency of user funds has become one of our main goals.
In this article, we look at four areas where we’re advancing access to essential information. Whether simple or complex, from proof of reserves and proof of collateral to airdrop portals and fee dashboards, we want anyone within the Binance ecosystem to be able to make their decisions with as many relevant inputs to hand as possible.Binance is committed to ensuring transparency when it comes to the safety and security of assets deposited by users.
The practice of “wrapping” tokens emerged from the need to increase the interoperability of digital assets and expand their utility to multiple networks. B-tokens are simply wrapped tokens offered by Binance to help extend the functionality of popular assets. Airdrops are sometimes used as a marketing tool in order to raise awareness of the coin or token being distributed, as well as a method of expanding the number of holders of that asset. They can also be used to reward existing token holders or incentivize users to participate in certain activities, such as completing surveys or referring friends.
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