Binance Coin (BNB)
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– Binance Chain mainnet has been launched. Public access and BNB mainnet swap will begin on 2019/04/23 2:00 AM (UTC).
– “In accordance with our whitepaper, we have completed our 7th quarterly BNB token burn of 829,888 BNB (roughly $15.6 MM USD equivalent).” 2019/04/15
BNB/USDT $89,980,900 48%
BNB/BTC $58,372,600 31%
BNB/ETH $11,500,000 6%
Binance was bootstrapped through a July 2017 ICO that raised approximately $15 million, and its early user base was characterised by a heavy geographic concentration in China.
Consequently, the exchange was disproportionately affected by China’s September cryptocurrency exchange ban, which ordered the closure of domestic bitcoin exchanges and forced Binance to immediately bar a significant number of its users from trading on the platform.
Despite this setback — and stiff competition from other exchanges that have been operating for far longer — Binance has managed to become the world’s highest-volume cryptocurrency exchange that does not support fiat trading pairs, and it often out paces exchanges that do offer fiat pairs.
INITIAL COIN OFFERING (ICO)
40% 80,000,000 BNB Founding team
10% 20,000,000 BNB Angel investors
When you use BNB to pay for fees, you will receive a significant discount:
1st Year: 50%
2nd Year: 25%
3rd Year: 12.5%
4th Year: 6.75%
5th Year: No Discount.
BNB Repurchasing plan
Every quarter, BNB will use 20% of their profits to buy back BNB and destroy them, until they buy 50% of all the BNB (100MM) back. All buy-back transactions will be announced on the blockchain. The end goal is to burn half the supply to leave 100MM coins left.
Creators / Founders
CZ is the founder of Binance and CEO of BijieTech, a company that provides cloud-based exchange systems to exchange operators. Since founding in Sept. 2015, BijieTech now powers 30+ exchanges in Asia. In the first 12 months since founding, BijieTech closed 36.1 million RMB ($5.3MM USD) in revenue, and will double that in its second year. BijieTech has never accepted any outside investments, being cash flow positive from day one.
Core Development Team
Roger is a co-founder and the CTO. He has been working in the financial industry for 10+ years, responsible for building up technical teams, designing the high level architecture of the exchange and clearing systems, and running ops teams to ensure the security and stability of exchange systems.
James is a co-founder and the Chief Architect of BijieTech. He architects and implements the core matching engine and its middle-ware. He also oversees client exchanges’ public endpoints to ensure security and high performance.
VP of Engineering
Paul is the VP of Engineering at BijieTech, responsible for the C++ implementation of the core machine engine. He has over 15 years of experience in developing exchange systems and financial trading applications. He is constantly looking for new ways to improve the performance and scalability of the system.
Prior to BijieTech, Paul worked at SBI BITS, part of SBI Group, in Tokyo. SBI Group is a listed financial services company with interests in a wide assortment of businesses. Paul was responsible for both client and server side development for trading applications.
Allan is a co-founder and the Product Director of BijieTech. Allan has over 10 years of experience in product design, user experience and trading. He drives the innovations in the exchange systems built by BijieTech, and pushes the product far ahead of the the competition in this ultra competitive space.
Sunny is a co-founder and the Operations Director of BijieTech. He has many years of management and technology consulting experience, has led 20+ exchange systems projects, and provided comprehensive consulting for strategy, operations, risk control and system development.
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