Innovation is a portal offered by Binance, the world’s largest cryptocurrency exchange. This portal is specifically designed for new token launches on the exchange. At present, there are many cryptocurrencies in the category known as the “Innovation Zone”, some of which are popular among investors. So, what exactly is Binance Innovation? What are the tokens known as Innovation coins? Let’s take a closer look at Zatrun.com.
What is Binance Innovation and How Can You Use It?
Binance created the Innovation Zone, which aims to provide users with easier and safer access to new token offerings. This zone aims to allow users to trade from their Binance accounts easily and without the “risk” that comes with trading. The area offers a more user-friendly and easy way to trade new cryptocurrencies compared to DEXs. Binance CEO Changpeng Zhao says that it will help users access new tokens with high volatility more safely and protect them from other scenarios.
Binance Innovation is designed to allow only certain users to buy and sell new DeFi tokens. In this way, Binance aims to provide services filtered according to user’s risk tolerance. Before a user is allowed to enter the innovation zone, the exchange asks two questions. Binance CEO Changpeng “CZ” Zhao said, “We need to list popular coins to stay competitive.”
The first question is whether the user is willing to lose 50% or more of their principal capital, and the second is whether the user is willing to take responsibility for such a loss. If the answer is “no” to these questions, the user cannot access Innovation. As a result, they cannot buy or sell new DeFi tokens that Binance will list in the near future.
What are the Innovation coins?
Currently, Shiba Inu, Litecoin, Convex Finance, Bakery, SushiSwap and Alice Coin are listed on the Binance Innovation Zone. Through this zone, users can invest in these new DeFi tokens. However, the tokens change continuously.
The platform was established to support new projects and allows users to invest in DeFi tokens according to their risk tolerance. If you answer “yes” to the questions and reach Innovation, you can invest in projects with high profit/risk ratios with these cryptocurrencies.