Binance Launches New Feature to Introduce Global Users to ‘Tokenomics’
Binance is expanding its portfolio of services in a bid to maintain a competitive edge in an increasingly crowded industry. On Thursday, September 12, the exchange introduced a new “token unlock and vesting schedule” feature, which it says will make tokenomics more transparent and accessible to users. Vishal Sacheendran, Binance’s head of regional markets, noted that the feature is designed to improve the trading experience for its global user base, which numbers over 210 million.
Understanding Tokenomics and Binance’s New Feature
Tokenomics refers to the economic analysis of cryptocurrency tokens and projects, focusing on factors such as token value, stability, demand, supply, and distribution.
With its latest feature, Binance has streamlined these insights, making them easily accessible alongside the names of cryptocurrencies. Users can now view key data including each token’s circulating supply, the ratio of locked to unlocked tokens, upcoming unlock dates, and a countdown timer. All of this is now displayed on the Binance website.
To implement this feature, Binance has partnered with CoinMarketCap, a leading crypto asset price tracking platform.
Binance further explained the concept: “Token unlocking and vesting refer to the scheduled release of a specific volume of tokens into the open market over a set period of time. This approach provides predictability and transparency for market participants.”
Details about the rollout
The schedule is now live on Binance’s official website and will be available on the mobile app soon, although the exact release date has not yet been announced.
“Our Token Unlock and Vesting Schedule is a first for any crypto exchange. It is a highly intuitive feature that provides our users with additional information to enhance their experience on the platform,” added Vishal Sacheendran.
This initiative aligns with a key piece of advice from crypto analysts: DYOR (Do Your Own Research). With over 2.4 million cryptocurrencies in circulation worldwide, experts are constantly urging investors to do thorough research on the tokens they want to invest in.
