When trading on Binance, you might see an option called Innovation Zone, and many coins appear in this group. But what exactly is an Innovation Zone? Why does Binance have to create an Innovation Zone? Are Innovation Zone Coins Potential? Let’s find out the answer in the content of the article below.
What is the Innovation Zone on Binance?
Innovation Zone is a trading area created by Binance in 2020. This is an area to focus on introducing new projects and projects of interest to the community; the purpose of the Innovation Zone is to list new and fastest projects.
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– On Phone:
The first token listed in Innovation Zone was SUN (SUN), listed on September 21, 2020. Up to now, the Innovation Zone has more than hundreds of different coins.
Users who visit the Innovation Zone will have access to new tokens, allowing them to trade cryptocurrencies comfortably on their Binance account.
Why Binance Created the Innovation Zone
Today’s most well-known cryptocurrency exchange, Binance, allows you to trade various currencies. However, Binance does not include all the currencies that are available right now. The coins that Binance lists must pass a stringent examination and selection procedure. Additionally, Binance has gained many clients’ trust due to its strictness.
However, the cryptocurrency market is expanding, particularly the more advanced Defi sector. Even though many initiatives “seem” to have positive reviews, there is always a chance for adverse events or fraud. Even so, the project still attracts the community and many investors.
Binance will need to include well-known, trendy cryptocurrencies in order to compete with other exchanges and draw more users. However, they will categorize currencies from projects with decentralized organizations without a transparent creator into the Innovation Zone based on the amount of risk assessment.
Users of Binance will now be aware that the cryptocurrencies included in this category will be very volatile and risky, thanks to the Innovation Zone. Users may see this as a “light reminder” of Binance.
Is trading on Innovation Zone safe?
If you trade on Innovation Zone, you should note that for projects listed on Innovation Zone, there will be much greater volatility and risk than projects listed in other regions.
This was noted by Binance CEO Changpeng Zhao: “To stay competitive, we need to list new projects. That’s why we created the Innovation Zone. Projects in the Innovation Zone are more volatile and risky than projects outside. Investors should research and learn about the project by themselves before investing.
In addition, when investing in Innovation Zone, you need to know that Binance may delist a project at any time if the project does not meet Binance’s requirements.
Criteria for projects to be listed on Innovation Zone
Since the Innovation Zone is part of Binance, projects that want to be listed above must also meet specific criteria.
Binance will consider an essential criterion: “The project must have a high community level and be interested in many people.” The more strongly supported a project is by the community, the more attention it gets from Binance and the more it gets listed on the Innovation Zone.
Over the past time, you must have known Pepe (PEPE), a meme coin that has only been released for a few days but has a market capitalization of over 1 billion USD, is fascinating and discussed by many people in the media. Seeing that Pepe got a lot of attention, Binance immediately brought PEPE to the Innovation Zone because PEPE has a large following; this meme also has its community on Twitter.
Where to invest in Innovation Zone?
You must respond to 2 questions in order to be eligible to invest in Binance’s “Innovation Zone”:
“Are you willing to take a loss of 50% or more”?
“Are you willing to take responsibility for investment losses”?
You won’t be able to participate in the “Innovation Zone” if the response is NO.
If you select YES, Binance will welcome you to the “Innovation Zone” and grant you access to new projects it will list soon.
To access the Innovation Zone on the web. Please access the following link: https://www.binance.com/markets/coinInfo-innovation-zone
If you still want to try investing in one of the coins of the Innovation Zone Binance, here are some outstanding potential names that you can refer to:
- Shiba Inu (SHIB)
- Project Galaxy (GAL)
- Stargate Finance (STG)
- Biswap (BSW)
- Unifi Protocol DAO (UNFI)
- My Neighbor Alice (ALICE)
- Flamingo (FLM)
- Alpha Finance Lab (ALPHA)
- Some fantoken coins: You can refer to: PSG, BAR, ATM, OG, JUV, ASR …
Bottom line
Innovation Zone offers many opportunities for potential new projects. Being listed here also helps newly launched projects access a broader investor file.
Above is what you need to know about Binance’s Innovation Zone if you want to trade here.
Innovation Zone is exciting because it allows me to invest in the latest projects while still ensuring transparency and safety. Investing in the Binance exchange is also more secure than investing in DEXs.
While their risk “seems” more incredible, many coins are well-regarded and have a lot of potential for future growth. Therefore, please research each project carefully before making an investment decision.
