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Token holders know that they can benefit from Binance Smart Contracts greatly, but many of them may be worried about being bested by a scam or a fraud. This article will share the key factors that token holders need to consider in order to avoid getting entangled in a scam and suffering losses.

Binance Smart Contracts are a powerful tool for token holders looking to securely and reliably manage their crypto assets. Binance Smart Contracts provide users with the ability to create decentralized and trustless agreements, allowing them to protect themselves from potential scams and other malicious activities commonly associated with the crypto-currency space. With Binance Smart Contracts, users can write contracts that automatically execute when certain conditions are met and all transactions are securely stored on the blockchain. This allows users to streamline the process of sending money, managing their tokens, and exchanging goods or services amongst other participants in the network.

Binance Smart Contracts also offer a range of additional features such as multi-signature wallets, secure storage protocols, and decentralized applications. This makes it an ideal platform for token holders to manage their assets and stay safe from theft or fraud. Overall, Binance Smart Contracts are a powerful tool that can help token holders securely manage their crypto assets, reduce the risk of scams, and access additional features such as multi-signature wallets and decentralized applications. With its innovative features, it is fast becoming one of the most popular ways to manage tokens and other crypto assets.

Binance Smart Contracts for Token Holders

Binance Smart Contracts offer token holders a number of benefits. With these contracts, token holders can control their own crypto assets without having to rely on third-party services or platforms. This gives them more control over their funds and reduces the risk of fraud or theft. Additionally, Binance Smart Contracts also provide a way for users to transfer tokens securely and easily, without the need for a middleman. This makes it easier for users to send tokens between themselves in a trustless manner. The contracts also provide token holders with additional security features such as on-chain dispute resolution and scam prevention mechanisms.

These additional security measures can help reduce the risk of theft while providing users with more control over their funds. Overall, Binance Smart Contracts provide token holders with a secure and reliable way to manage their crypto assets. The use of these contracts also offers users the ability to create decentralized applications on top of the blockchain without having to worry about security or other issues related to maintaining trust in third-party services. This eliminates the need for users to trust any third-party services or platforms when using the blockchain, allowing them to interact directly with each other without relying on intermediaries. This makes it easier and more secure for users to transact on the blockchain while increasing the flexibility of their crypto assets.

RING Financial is a good example of a project that utilized Binance Smart Contracts and faced some serious challenges along the way. Some have thrown accusations at RING Financial, making the claims that the project was a scam. Lets study this example and see what it says about the Binance blockchain scams or possible solutions to any such scam in the crypto space. But first, lets see what the RING Financial project was designed to be.

The DeFi project was a protocol aimed at aggregating all the best staking protocols and giving access to all decentralized protocols. As many enthusiasts already know the crypto space can be a challenge to navigate. The RING Financial Token was designed to ease the process for all investors. RING Financial also aimed to reduce costs and fees. Having been built on the Binance Smart Chain, RING Financial was able to offer lower price points to users. The project aimed at changing the DeFi space for its noders and it was essentially on the way to achieving this goal. However, RING Financial suffered a hack on December 5, 2021.

Many crypto projects have suffered due to hacker attacks in the past, and RING Financial fell victim to the same issue. The project utilized the famously secure Binance smart contracts, but the development phase had a flaw that laid the project open to attack. The fundamental flaw of the development was not assigning the onlyOwner function to the Reward part of the project. Why didnt the RING Financial developers include the function? They assumed that the codes would automatically inherit the functions assigned to their parents, which is the standard for many coding languages. This resulted in anyone being able to modify this part of the code and hence exposing the project to the threat of a scam. This resulted in the project getting hacked, leading to losses on the part of the users and, in the end, causing a decline in trust in RING Financial.

So, what can we draw from the RING Financial case study? We can discern that crypto spaces are still developing and the potential for a scam is a danger to most crypto projects. We do think that despite the losses suffered, RING Financial was likely not a scam or a fraud due to the nature of the Contracts flaw. Many accused RING Financial of being a scam, but the facts of the case simply dont bear out the claims. What can future crypto investors do to avoid getting accused of being a scam or a fraud? They must avoid security breaches at all costs. Lets check out some important crypto-safety rules they can follow.

To avoid getting entangled in a fraud or a scam ensure proper coding and the lack of development flaws.

These are the most important basic rules to keep in mind for projects to avoid being accused of a scam or fraud. You should also strive to avoid the flaws in other projects such as RING Financial. By following these rules and digging a bit deeper to come up with your own, you can build a safe and secure project of your own, ensuring its success.

Link:

An Introduction to Binance Smart Contracts for Token Holders - Net Newsledger

Road Town, BVI, June 21, 2023 (GLOBE NEWSWIRE) --

Palmswap, a BVI-based perpetual decentralized trading platform built on Binance Smart Chain (BSC), has partnered with Gotbit Hedge Fund and its market making division, a platform-based solution designed to bring back control of markets to project founders, to allocate liquidity as part of their liquidity provider program to the upcoming Palmswap liquidity event in anticipation of the launch of Palmswap v2, scheduled for July 5, 2023. An undisclosed amount will be allocated from Gotbit, through the minting and auto-staking of the Palmswap Liquidity Provider (PLP) token during the Launch Event beginning June 27. PLP stakers get up to 500% APR plus existing LP rewards through the facilitation of trades and market activity on Palmswap v2, once live.

Gotbit Hedge Fund is a performance-focused crypto market maker with a platform-based service and utility integration approach. Gotbit includes an internal team of developers that build utilities to add extra value to web3 projects.

With its unique and synthetic architecture, Palmswap v2 is substantially more capital-efficient than other alternatives, allowing for low trading fees, and a wide range of levers and pairs. The Gotbit platform is perfectly suited to the current needs of Palmswap, as it was designed to be a liquidity-efficient, powerful and user-friendly decentralized leveraged trading platform. It was also designed to provide CEX-like trading features while overcoming common DEX issues, such as front-running, slippage, asset limitations, native security and a lack of risk management features.

According to Palmswaps CPO Bernd Stckl: Our upcoming liquidity event will usher in a new era of fast, efficient, and user-friendly decentralized trading. We are excited about our partnership with Gotbit for our liquidity event and are confident in the platforms ability to handle the transaction volumes, speeds, and order management expected of the event and count on Gotbits continued support as we roll out Palmswap v2 as the preferred next-gen leveraged trading platform for the masses.

Alex Andryunin, CEO & Founder of Gotbit Hedge Fund, also commented on the partnership by saying: Palmswap stands apart from other decentralized trading platforms as one that is thoroughly committed to the ideals of user-friendly, cost-effective, fast, performant, and reliable digital asset trading. We are thrilled to be part of Palmswaps liquidity event and fully support the platforms development and roll-out of robust and reliable, customer-friendly trading tools.

PLP Palmswaps liquidity provider token, consists of an index of USDT assets for leverage trading. It can be minted with USDT and burned back against USDT - being 100% liquid at all times. 60% of protocol fees are distributed to PLP holders and stakers. As part of the liquidity event, rewards of up to 25 million $PALM tokens worth over $500,000 will be issued through this program to depositors, via a FCFS basis, where 1.5 to 5 PALM per PLP, can be earned based on the total initial PLP issued. The starting price of PLP will be $1 per token. Early minters will enjoy higher rewards through this tiered system, and interested parties can sign up to participate here.

Furthermore, the PALM token, as Palmswaps governance token, is designed to facilitate and incentivize the decentralized governance of the protocol along with providing future access to trading fee discounts, tiered access to Palm Pad projects, increased affiliate commissions upon staking and more. The overall Palmswap ecosystem is centered around governance, trading rewards, and staking, and has been developed to fuel the future growth and decentralization of the protocol.

With the deep liquidity being provided via Gotbit and the active participation and growth of the Palmswap user base, Palmswap specifically, Palmswap v2, the new iteration of the Palmswap decentralized leveraged trading platform is perfectly positioned to sustain growth and activity by a new wave of Web3 participants.

About Palmswap

Palmswap is a next-generation decentralized exchange designed for powerful and professional perpetual trading. With the inherent security, privacy, and reliability of decentralization, Palmswap delivers seamless and transparent trading capabilities without relying on third parties. Palmswap aims to strengthen confidence in cryptocurrency trading by giving customers complete control over their assets while offering them deep liquidity pools and a seamless trading experience. Learn more by visiting https://palmswap.org/.

Media contact:

office@palmswap.org

Excerpt from:

Palmswap Secures Partnership with Gotbit for the Palmswap ... - GlobeNewswire

Stockholm, Sweden, June 21st, 2023, Chainwire

My Neighbor Alice unveils crafting features, Elle Collaboration, and free trials in the upcoming ALPHA Season 3.

My Neighbor Alice, the innovative fully-decentralized open-world game, is thrilled to announce its latest crafting features in its immersive gameplay in Alpha Season 3, launching on June 27, 2023. The Alpha Season 3 brings gaming to a new level with an exclusive collaboration with the legendary fashion and lifestyle brand ELLE.

The exclusive relationship with ELLE bridges the gap that combines fashion, lifestyle, and gaming to bring an immersive experience for players. This new season includes novel features such as Townhubs, free renting, and a simple Crafting system to improve the gameplay experience and inspire innovation.

Keeping with the teams dedication to inclusivity and accessibility, My Neighbor Alice will be offering a limited-time Free Trial, allowing more players to enjoy the world of My Neighbor Alice. The Free Trial for My Neighbor Alice Season 3 offers two distinct options:

Share Land Plots with Friends: This feature enables players to jointly own a part of the My Neighbor Alice universe, fostering a sense of community and collaboration.

Free Trial for New Users: Newcomers to the game have the opportunity to access a plot of land for a limited period. As new players, they will enjoy an equal and immersive experience akin to that of conventional landowners. To sign up for the Free Trial, interested individuals can visit http://www.myneighboralice.com/free-trial.

The crafting system is set to change how players engage with the game. Players can use blueprints and tickets to make various goods, participate in activities such as fishing and farming for materials, and use crafting tables to assemble their unique creations. From simple elements like fences and tables to more complex components like gates and fountains, crafting adds a new level of customization and interaction to the game.

ELLE will be featured as a neighbor in the game, with plots in each active zone. Players will have the opportunity to complete quests and obtain unique ELLE-branded products with an Alice twist.

Players can now utilize ALICE tokens in My Neighbor Alice to craft exclusive items. This exciting feature introduces the bridging of ALICE tokens from Binance Smart Chain (BSC) to Chromia Appnet, making it the first-ever use of a bridged asset in the game. To learn more about this exciting development, click here.

For more information and to stay updated, please visit My Neighbor Alices:

Discord | Telegram | Telegram Announcement | Twitter | Linkedin

About My Neighbor Alice

My Neighbor Alice is a groundbreaking multiplayer builder game built on Chromias Blockchain that offers an engaging and accessible experience on a charming virtual island. My Neighbor Alice represents the future of gaming, combining virtual reality, blockchain, and decentralized finance to redefine how people interact with virtual worlds. Integrating Blockchain technology allows players to own and trade virtual assets (NFTs). The games marketplace enables players to buy, sell, and trade these NFTs, creating a dynamic and player-driven virtual economy. Players can earn rewards, monetize their creations, and engage in community events, fostering a sense of ownership and collaboration. With different strategic partnerships, MNA underscores the projects dedication to promoting NFT ownership, encouraging a more engaging and interactive gaming community.

Fati Hakim[emailprotected]

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Exciting Adventure Awaits as My Neighbor Alice Unveils Alpha ... - Finbold - Finance in Bold

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Ethereum, a decentralized blockchain with smart contract functionality and the second-seeded digital asset after Bitcoin, continues leading the non-fungible tokens market in terms of trading sale volume. Even though many blockchains have begun to support NFTs, we shall narrow down several reasons suggesting that Ethereum might stay on top than expected.

Solana is a renowned blockchain platform that uses a proof-of-stake mechanism to provide smart contract functionality. For the longest time, Solana has been one of the strong competitors to both Ethereum and Cardano before losing the non-fungible token market dominance to Bitcoin in the past few weeks.

Since its inception in 2020, Solana has attracted mainstream crypto and NFT investors. Some notable NFT projects hosted on Solana include the Degenerate Ape Academy, Solana Monkey, SolPunks, Frakt, Bold Badgers, and Sollamas.

Binance Smart Chain is another blockchain supporting different non-fungible token projects. Binance Smart Chain runs alongside the BNB Chain, previously Binance Chain. The first chain supports smart contracts, while the second enables high transaction volume with 3 seconds block time. Both blockchains together form Binance Chain BNB.

Despite Ethereums NFT market dominance, the Binance Smart Chain (BNB) has attracted many users and projects because of its strong performance and affordable costs. The BEP-721 token standard developed by BSC enables the development of NFTs.

Polygon, an Ethereum scaling protocol, has been imposing strong market pressure on Ethereum and Solana before somewhat fading earlier this year. Polygon is a strong chain and much cheaper in transaction fees when compared to Ethereum.

The Polygon is one of the best options for those tapping into a growing market and looking for low gas fees. However, if you want more liquidity and list your collection alongside blue-chip NFTs, Ethereum automatically becomes a better choice. The average of an NFT on Polygon is less than $10, while on Ethereum, it costs about $345.

Bitcoin was the first blockchain to be launched that functions independently of any central authority. Despite being the flagship chain, Bitcoin has been outpaced by other junior blockchains like Ethereum in various fields, including the NFT market.

Bitcoin officially entered the non-fungible token space earlier this year after Bitcoin developer Casey Rodarmor inscribed NFTs using Satoshis ordinal theory. By leveraging this innovation, Ordinals can store the entire data for images or video on-chain. Recently, Bitcoin-based NFTs have gained mainstream adoption, poising new threats to Ethereum NFT market dominance.

Ethereum is the second most traded crypto blockchain, right behind Bitcoin. Ethereum was the first chain to support non-fungible tokens and has since remained the most widely used blockchain for NFT initiatives. Ethereum is now at the cutting edge of blockchain technology.

The non-fungible token market leader Ethereum features two well-liked native tokens dubbed ERC-721 and ERC-1155, which are used to construct non-fungible tokens and semi-fungible tokens. Despite many market conditions and threats, Ethereum slashes the lions share in the NFT market.

Its worth noting that blockchains manage to build successful non-fungible token markets because of their liquidity capacity and network effects, among other factors. In that case, the more liquidity a blockchain network has, the more it attracts builders or creators.

Bitcoin is the only blockchain that can contend with Ethereum when it comes to liquidity. The flagship crypto has a market capitalization of approximately 2.5 times larger than Ethereum, giving it huge potential to outperform Ethereum. But is the liquidity factor alone enough to give out results? The answer is no.

Solana is a perfect example, showcasing that liquidity is not the determining when it comes to non-fungible token dominance. Despite having a lower market capitalization, Solana has higher liquidity for NFTs than Cardano. Since the liquidity for jpegs on Ethereum is still much higher, it might continue dominating the market longer than expected.

Blockchains By NFT Sales: Source: CryptoSlam.io

Ethereum continues dominating the non-fungible token market, attracting a trading sales volume of 13 million in the past 24 hours. During this period, Ethereum has pumped 4% in NFT sales. Bitcoin distantly follows, attracting $3 million in NFT sales. It has increased by 38% in the past 24 hours.

Wall Street Memes - Next Big Crypto

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Among Blockchains Supporting NFTs, Here's Why Ethereum Will ... - Inside Bitcoins

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Broadening its horizons and looking to increase its on-chain footprint, ChainGPT has begun its interchain movement by bridging the $CGPT token to the Ethereum Network.

Enabled through a partnership with ChainPort, KuCoin, BitGet, and other top-tier Web3 partners, ChainGPT has developed a decentralized bi-directional bridge between the Binance Smart Chain and Ethereum for the $CGPT token. Now users will be able to transfer their $CGPT to and from the ETH and BNB/BSC networks seamlessly.

With the implementation of the bridge, the $CGPT tokens on-chain presence expands, gaining access to the robust and vibrant ecology of the Ethereum network. Integrations into many of the worlds leading DEFI protocols, the opening of token pools on DEXs, and the provision of added trading pairs against a broader segment of popular tokens becomes possible.

At its core, $CGPT is enabling a decentralized economy for AI services. As the native token of the ChainGPT ecosystem, $CGPT serves the dual functions of a utility and governance tool. Its utility purpose is to provide access to a full suite of AI-powered Web3 tooling from NFT minting and community management to smart contract auditing and creation to launchpad tiering and beyond. Its governance function relates to the role of $CGPT in distributing ownership rights over the platform throughout its community members and giving them the opportunity to help steer the direction of the projects development. View the ChainGPT DAO here.

ChainGPT has been in communication with a multitude of exchanges that would be able to provide support immediately after instantiation. At this time, Kucoin, BitGet, and ByBit have confirmed support with a few select other major exchanges signaling their willingness.

On the front of decentralized venues for support, the most popular DEX in the world, UniSwap, will have a $CGPT token pool opened to provide instant listing and liquidity on Ethereum.

With the help of ChainPort, $CGPTs presence on major crypto directories and analytics portals including CoinGecko and Etherscan has been expedited.

Bridge Specifications

$CGPT Contract Address on Ethereum:

$CGPT Contract Address on Binance Smart Chain:

CoinMarketCap: https://coinmarketcap.com/currencies/chaingpt/

DexCheck: https://dexcheck.io/app/bsc/chart/0xcfe847aae922cbe3dcbba61dbb1ed97d2124d322

View the DAO proposal for more information about the bridging here.

ChainGPT is the leading provider of AI-powered Infrastructure for the crypto, blockchain, and Web3 industry. From automated smart contract generation and auditing to autonomous community management, advanced Web3 AI chatbot, AI-powered news aggregation, and NFT generation, ChainGPT is the most sophisticated, end-to-end AI solution on the market.

PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.

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ChainGPT Token (CGPT) is Launching on Ethereum - Bridging ... - CryptoPotato