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Binance joins Neo Council, 2.1 million NEO used to secure two Top 21 positions

Binance Staking has secured two positions on the Neo Council. At the time of press, Binance has voted with approximately 2.1 million NEO to secure its places in the Top 21. Binance is the world's largest custodial exchange with nearly US $9.07 billion in 24-hour volume, according to CoinCap.io. Binance Staking is a service that allows users to earn distributions offered on proof-of-stake or other networks that distribute rewards to participants. The platform provides two types of staking: flexible and locked. Flexible staking offers fewer rewards but allows users to move the underlying assets at any time. Locked staking requires users to deposit a token for a specific time frame but provides higher yields. For example, a minimum of 0.01 NEO locked for 15, 30, 60, or 120 days will earn increasing yields of 5.79%, 7.49%, 8.79%, and 13.56% (made in GAS distributions), respectively. In the announcement post, Neo Global Development said "Binance Staking's new membership in the ...
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Binance Reveals ‘Venus’ — Its Own Project to Rival Facebook’s Libra



Top cryptocurrency exchange Binance is launching an open blockchain project "Venus" focused on developing localized stablecoins worldwide.

In an announcement published today, Aug. 19, the exchange argues it is well-positioned to launch such a currency ecosystem in light of its existing public chain technology, Binance Chain, wide user base and already established global compliance measures.

Leveraging existing know-how
The exchange says it is seeking partnerships with governments, corporations, technology firms, and other cryptocurrency and blockchain projects in order to develop a new currency ecosystem that will empower both developed and developing countries

The exchange's vision for the project, per the announcement, is to "build a new open alliance and sustainable community" that enlists partners who wield influence on a global scale.

Binance Chain, as the announcement notes, has already been running several native asset-pegged stablecoins, including a Bitcoin (BTC)-pegged stablecoin (BTCB) and the Binance BGBP Stable Coin (BGBP) pegged to the British Pound.

Binance says it will leverage its existing infrastructure and experience with various regulatory regimes to consolidate a compliance risk control system and build a multi-dimensional cooperation network for the Venus project.

Vying with Libra
Binance's ambitious new venture appears to compete directly with plans from social media titan Facebook to launch a fiat-pegged stablecoin, Libra, that would power a global crypto payments network embedded into the company's three wholly-owned apps: WhatsApp, Messenger and Instagram.

With its choice of name, "Venus," Binance is also stepping into the astrological waters of both Facebook's Libra project and the Winklevoss Twins' Gemini exchange and Gemini dollar.

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