We’ve created a list of the most important BNB ecosystem updates from the second week of September.
This week’s list of BNB Chain updates include the completion of the SPACE ID seed round. In this weekly update, we also included BNB Chain Web3 Stars Accelerator winners. We also included other news and updates from the BNB ecosystem.
SPACE ID Has Completed Its Seed Round
SPACE ID has completed its seed round of funding, which was led by Binance Labs. The investment will be used to advance their .bnb Domain Name Service as well as the upcoming universal domain development.
— SPACE ID (@SpaceIDProtocol) September 2, 2022
SPACE ID will be able to build a strong foundation for all integration and development within the entire ecosystem, as well as enable its transition to a universal domain service with multi-chain support. It is also equipped with customized top-level domains and a single SDK that resolves other name services, thanks to Binance Labs’ support.
Binance Labs’ investment is a significant step forward for SPACE ID and the community in their early stages of providing a key solution in Web3 through a decentralized identity infrastructure, interoperability, and a Single Source of Truth.
SPACE ID has attracted a lot of attention since the launch of their .bnb Domain Name Service. The .bnb Domain Name Service of SPACE ID aims to establish itself as the primary domain identification for all developers to start using BNB Chain.
Winners of BNB Chain Web3 Stars Accelerator
BNB Chain Web3 Accelerator Vietnam registration officially closed last week. Around 150 teams participated in the program over a two-week period. At this stage, ten teams were selected as winners after a rigorous selection procedure. They will continue their journey for the next two months, competing for the September Star and October Grand Final seats.
Find out more about the exciting projects that'll be taking part in our #Web3 Stars Accelerator in Vietnam 🇻🇳
In a country stacked with innovative talent, #BNBChain will be backing some impressive teams alongside our partners.
Find out more ⤵️https://t.co/n3kNQuHmQF
— BNB Chain (@BNBCHAIN) September 5, 2022
These ten teams mostly cover the gaming, infrastructure, lifestyle, and DeFi areas. In addition to the initial online accelerator program, two events will be organized to further promote the ten winning ideas to the community and give an opportunity for the winning teams to connect with one another.
This is the list of 10 winners:
- Incognito Chain
- Planet Sandbox
- Roseon World
- Calamus Finance
- Spinel Labs
- Orochi Network
The Nigerian Authorities and Binance Are Negotiating the Establishment of a Digital Economic Zone
Nigeria and Binance are in talks to establish a blockchain-based digital economic zone. The corporation has recently entered a number of areas as part of its expansion goals. The Changpeng Zhao-led crypto platform was considered as supporting governments in moving forward in the cryptocurrency and blockchain sectors in addition to building offices in numerous locations. The list most recently included Busan, South Korea.
📢 Nigerian 🇳🇬 authorities and #Binance are in talks to establish a digital economic zone that will help entrepreneurs fast track blockchain technology in the West African nation.#BNB #Crypto #CryptoNews $BNB #Binance #BUIDL #Web3 #cryptohubhttps://t.co/903ZT0je1u
— BNB Swap (@BNBSwap) September 5, 2022
The new digital economic zone will help businesses in West Africa to go into blockchain technology. The agreement aims to establish a digital center “similar to the Dubai virtual free zone,” according to a statement from the Nigeria Export Processing Zones Authority.
Nigerians have generally reacted positively to cryptocurrency. Nigeria has made significant progress in terms of Bitcoin adoption. One of the most rapidly growing crypto markets, its peer-to-peer Bitcoin trading volume surpassed $1 billion between January 2022 and June 2022.
SafePal Integrates Binance Connect
SafePal has implemented Binance Connect technology into their wallets. Clients of the service will be able to purchase cryptocurrencies straight from the exchange. On September 1, Binance’s official blog announced the exchange’s collaboration with SafePal. Among other things, the latter offers a range of hardware wallets that run the same-named software.
#Binance Connect partners with SafePal.
— Binance (@binance) September 1, 2022
Users of SafePal will be able to purchase and trade cryptocurrencies directly as part of the partnership. Simply create an account with the service and fund it with a credit or debit card. The project has around six million users globally. As a result, the exchange received its first portfolio of hardware wallets with the Binance Connect infrastructure already installed.
The SafePal S1 model costs $69.99. Users can purchase a special leather case from the company’s official website. The SafePal app, on the other hand, is completely free and open to everyone.
Wombat Exchange Full App Launched
BNB Chain-based stableswap Wombat Exchange launched its full version on the mainnet. Wombat Exchange is a multi-chain stableswap native on the BNB Chain, focused on re-engineering the stableswap experience as the next-generation stableswap 2.0 with its revolutionary algorithm design.
Wombat’s aim is to drive DeFi growth and push limits by increasing capital efficiency, accessibility, and scalability through multi-chain adoption.
Our mainnet's Full version has just gone LIVE 🚀
🌟 Total cap is now updated to 400M
🌟 Liquidity mining is also ON right now
— Wombat Exchange 🐻🔁 (@WombatExchange) September 5, 2022
The following are the main features included in this launch:
- The liquidity pool cap of US$40M set at the Beta Launch will be increased to US$400M ($120M cap for BUSD, USDT, and USDC; $50M cap for DAI).
- With the initial round of stablecoin listings, liquidity mining will be available: USDT, USDC, DAI, and BUSD.
- By depositing any of the four mentioned stablecoins, liquidity providers will earn $WOM from their Base Pool.
- Staking WOM will also let liquidity providers get Wombat’s Boosting Pool rewards using their veWOM system.
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