Binance Build – Feb 10, 2023
Discover the latest and biggest product developments across the Binance ecosystem.
In today’s edition of Binance Build, we’ll cover our upgraded proof-of-reserves system, new Self-Trade Prevention tool, first-ever product feedback board, and the introduction of Binance Tax to users based in France.
We’ve also made a few impactful updates to some of the most popular products in our ecosystem, including Auto-Invest, spot trading, Trust Wallet, and Futures.
Highlights
Introducing zk-SNARKs
We’ve recently upgraded our Merkle tree proof-of-reserves system as part of our commitment to building a trustworthy and transparent crypto ecosystem. The new addition, known as zk-SNARKs, is a zero-knowledge proof protocol that gives Binance users a new and improved way to verify our reserves — thereby enhancing privacy and security.
This is our first time implementing zk-SNARKs and we are looking forward to receiving community feedback so we can continue to improve the system.
Self-Trade Prevention (STP)
API spot trading users can now set up a safety net against self-trading, a practice that, when used intentionally, is strictly prohibited on the Binance platform. The STP function allows users to set their own parameters, choosing whether they want their maker or taker orders to expire in the event of a potential self-trade.
Learn more about Self-Trade Prevention →
Binance Tax
Our newly built tax tool, which is free to use, allows users to generate an estimate of their tax liabilities on up to 100,000 Binance transactions.
At the time of writing, Binance Tax is only available to users based in France and supports every type of Binance transaction except for Futures and NFT. We’re working hard to implement support for more regions, in addition to other networks and wallets outside of Binance. In the meantime, you can visit the Binance Tax page to learn how our tool works.
Learn more about Binance Tax →
You name it, we build it
We’re excited to announce our feature request and feedback board! For the first time ever, users can submit suggestions and feedback directly to our product team.
Building products at Binance starts with you. Let us know your ideas, big or small — the sky’s the limit.
Request a new feature on our feedback board →
Other Innovations We’ve Launched
Trading
New notifications for Auto-Invest. Receive in-app notifications for three additional scenarios: failed transactions, lack of funds for a successful transaction, and the start of a rebalancing.
Adjust trades on the fly. Make changes to your open spot limit orders instead of having to cancel orders and create new ones. It’s a small tweak that brings more efficiency to your trading.
Futures Brief Mode. Switch to [Brief Mode] to view additional open positions on your screen. To return to the traditional, metric-focused Futures interface, you can select [Detailed Mode] in your preferences.
Footer symbol previews. The bottom section of the Futures page now displays symbol previews and their prices. You can arrange your display according to the most popular symbols or your Favorites list.
Edit your orders on the chart. Now available to all Web users, spot and margin traders can now modify their limit orders by dragging and clicking the flag on their Kline chart. This feature is available in both the original and TradingView Kline charts.
Trust Wallet
Binance P2P integration. Buy crypto in the Trust Wallet app using Binance P2P, a peer-to-peer crypto marketplace that supports over 700 payment methods and 100 fiat currencies. Note that this feature requires a verified Binance account.
Mini-games
Valentine’s Day. We’ve prepared a special mini-game for you to find out what kind of #CryptoLover you are! Simply swipe left or right to answer the questions, and follow the activity instructions to earn a share of 5,000 BUSD worth of Gift Cards!
Stay Updated on All Things Binance
Follow us on Twitter and Instagram for the latest news and product updates from across the Binance ecosystem. We also update our blog with daily stories and commentary, from CZ’s thoughts and favorite books to educational articles and product launch announcements.
If there’s a product or feature you want to see implemented, let us know on Twitter using #BinanceBuild or submit your ideas via our feedback and suggestion board. Stay tuned for our next recap, scheduled for February 24, 2023.