Binance Boosts Web3 Wallet with New Features and $1M Airdrop Campaign

Binance Enhances Its Web3 Wallet With ERC-404 Token Support, Inscriptions Marketplace, And Announces $1 Million Airdrop To Engage Users.

Binance, a leading global cryptocurrency exchange, has announced significant upgrades to its Web3 Wallet, introducing a range of new features and integrations that streamline the user experience in the decentralized finance (DeFi) space. The platform launched Inscriptions Marketplace, integrated support for ERC-404 tokens and unveiled UI/UX improvements, among other improvements.

Improved support for ERC-404 tokens

Binance has extended the utility of its Web3 wallet by including support for ERC-404 tokens, which combine the properties of the ERC-20 and ERC-721 standards to facilitate fractional ownership of NFT collections without intermediaries. The move follows the success of Pandora, the first token launched under this standard, which shows the market’s appetite for innovative tokenization methods.

Expanding the Web3 Wallet ecosystem

To foster a more dynamic ecosystem, Binance’s Web3 wallet now includes 24 new decentralized applications (dApps) and has integrated five additional networks such as Manta, ZetaChain, ZFair, Metis and Scroll. These integrations are set to provide users with more options and improve wallet functionality in a diverse Web3 environment.

Self Custody Wallet Option

Binance has introduced an option for users to upgrade from semi-custodial wallets to full-custodial wallets, emphasizing user autonomy and security. The process involves a simple backup method using cloud services or QR codes and setting a recovery password, further cementing Binance’s commitment to blockchain’s founding values.

Marketplace and Airdrop Captions

The recently launched Inscriptions Marketplace within the Web3 Wallet enables the mining and trading of Inscriptions, offering an easy-to-use platform for both novices and experts to engage with over 60,000 BRC-20 tokens. To celebrate the launch, Binance initiated an exclusive airdrop campaign that runs from February 22 to April 3, 2024, with over $1 million in token rewards from various BRC-20 partners.

UI/UX improvements and caption accelerator

Additional UI/UX improvements were made to the Inscriptions Marketplace, including a favorites feature, improved token details, streamlined access, and an improved search feature. Additionally, Binance introduced a caption accelerator powered by the BTC transaction accelerator for reduced transaction waiting times.

How to participate in Airdrop?

To participate in the airdrop, users must verify their Binance account, set up a Web3 wallet, opt-in to the activity page, and complete at least one trade with a featured token during the campaign period. Winners will be determined by matching sequences in their Binance User IDs (BUIDs) to the hash value of the BNB Beacon Chain block.

Final thoughts

Binance continues to refine the Binance Web3 wallet, focusing on delivering practical, user-centric improvements. As the digital asset landscape evolves, Binance strives to provide a more efficient and useful access point to the Web3.

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