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AllianceBlock is excited to announce that Binance, the world’s leading cryptocurrency exchange, has endorsed AllianceBlock’s Liquidity Mining Program with its official release on the Binance Smart Chain (BSC) at Wednesday December 30th 2020.
This is the first officially endorsed and audited Liquidity Mining Program on the Binance Smart Chain and is an exciting first step in what promises to be a strong partnership between AllianceBlock and Binance.
Binance & AllianceBlock: A Shared Vision
The partnership between Binance and AllianceBlock represents much more than liquidity mining and is a significant step forward as institutional interest in blockchain reaches new highs.
Core to the philosophies of both organizations is the desire to strengthen the entire blockchain industry by building a secure, compliant, and user-friendly bridge between Traditional / Centralized Finance markets (CeFi) and Decentralized Finance (DeFi).
The recent announcement of the $100 million Binance CeFi/DeFi Fund highlights Binance’s initiative to further support the DeFi ecosystem and facilitate a more open dialogue with traditional markets.
Similarly, AllianceBlock’s vision to build the first globally compliant decentralized capital market presents great potential and a foundation for further collaboration between the two organizations.
AllianceBlock’s founder & CEO Rachid Ajaja explains: “Having our Liquidity Mining Program on the Binance Smart Chain with the BNB/bALBT pool is is not only a huge step towards significantly improved transaction costs and speed for ALBT Liquidity Miners, it also marks a major milestone towards engaging with the Binance community about AllianceBlock and our vision to bridge CeFi and DeFi.
Binance is the leading cryptocurrency exchange on every measure and its rigorous efforts to bridge CeFi and DeFi sits perfectly in line with our own vision. We truly believe that there are multiple opportunities for further collaboration and we are excited to work alongside Binance to achieve this ambitious outcome.”
This partnership will lay the pathway for AllianceBlock’s growing ecosystem of traditional finance institutions to benefit from the greater efficiencies, lower transaction costs, and faster speed of the Binance Smart Chain.
With several product releases planned for Q1 2021, AllianceBlock expects to onboard its first major financial institutions in the same quarter, which will automatically interact with BSC and offer exciting possibilities as Binance and AllianceBlock jointly work at ushering in a new era for DeFi.
High Yield Staking for BNB & bALBT
Supporters will be able to stake Binance’s BNB token as well as AllianceBlock’s ALBT token (bALBT on BSC) and receive high yield staking rewards in both pairs. To celebrate the release, 1 million bALBT tokens are being offered as the first month reward, providing a starting APY of approximately 12,000% (subject to significant change pending the addition of further liquidity).
The AllianceBlock BSC Liquidity Mining (LM) Program utilizes the same technology as AllianceBlock’s core LM Program. The BSC LM version is fully audited by AllianceBlock’s strategic partner, CertiK, the leading cybersecurity expert in the industry.
BSC is a logical next step for AllianceBlock’s LM Program given its compatibility with Ethereum, yet offers significantly lower transaction fees (around 10–20x).
Operating in parallel with the original Binance Chain, BCS is also optimized for faster transactions than Ethereum and marks an important update to the AllianceBlock LM Program.
The AllianceBlock Liquidity Mining Program
Version 1.0 of the Alliance Block Liquidity Mining Program was released in November followed by the addition of the Balancer protocol in the v1.2 version.
Shortly thereafter the AllianceBlock Liquidity Mining Partnership program together with Frontier was released, which included the industry’s first fully audited Multi-Asset Reward Liquidity Mining Partner Program.
The availability of the AllianceBlock Liquidity Mining Program on Binance Smart Chain (BSC) further expands the reach and impact of AllianceBlock’s Liquidity Mining Program.
About Binance Smart Chain
Binance Smart Chain is a sovereign smart contract blockchain delivering Ethereum Virtual Machine (EVM) compatible programmability. Designed to run in parallel with Binance Chain, Binance Smart Chain retains the former’s fast execution times and low transaction fees while adding Smart Contracts functionality to support compatible dApps.
For more information on Binance Smart Chain, visit https://www.binance.org/#smartChain.
AllianceBlock is building the first globally compliant decentralized capital market. The AllianceBlock Protocol is a decentralized, blockchain-agnostic layer 2 that automates the process of converting any digital or crypto asset into a bankable product.
Incubated by three of Europe’s most prestigious incubators: Station F, L39, and Kickstart Innovation in Zurich, and led by a heavily experienced team of ex-JP Morgan, Barclays, BNP Paribas, Goldman Sachs investment bankers, and quants, AllianceBlock is on the path to disrupt the $100 trillion securities market with its state-of-the-art and globally compliant decentralized capital market.