My limited tech understanding is there is a trade off between number of nodes vs performance at this time of our blockchain evolution. I barely found out they went from 21 to 41 before they tweeted about it. Also there are only 41 validators nodes out of which 20 are always inactive, which makes BNB one of the most centralized coins.ĬZ - Honestly, I am not involved in the BNB chain decisions. “Is there any plan to make BNB chain more decentralized ? Currently 10k+ BNB needed to become a validator on your own,you also need to get a whole lot of BNB delegated to you as well. (Read our blog post to better Understand the benefits and risks associated with Binance Staking )Ĥ.

These programs are accompanied by user education and extensive disclaimers - we are transparent about how this works, and the risks associated. “Did Binance stake UST in Anchor protocol, to generate yield for users?”ĬZ - Yes, there were some, as part of the Earn program. Lastly, it is always important to thoroughly research and learn about projects you invest in.ģ. I do not think our team intentionally did it, but will check for that anyway. If you think this caused you issues, please contact our customer support. There was another incident where our team used a wrong logo for different project for a while, and then took it down, and corrected it, which I believe it the correct thing to do. I just asked our team about this, there were some tweets about a specific APY, which is no longer true, so they deleted it as to not confuse new users.Īpologies, I didn't know this until now. Not sure about the Binance main account, but I do delete tweets all the time, mainly due to a lack of edit button. I’m 99% certain just a bad twitter conspiracy theory. And to the best of my knowledge, we never said UST was “fiat backed”, etc. “Can you please explain why you misrepresented UST repeatedly then deleted all tweets and promotional material stating that it was safe, stable and fiat backed right after it crashed? What are you doing to make this right?”ĬZ - Binance always has risk warnings to users in all of our announcements. There are high risk tolerance buyers willing to take over from sellers. Lastly, no one is forcing anyone to buy just because trading is on. If we suspend trading, and prices move on other exchanges, what do you think the holders will say? We suspended trading briefly when the validators paused the blockchain, even that caused a lot of complaints, but I believe our action forced the validators to resume the network within a couple of hours. In a decentralized world, there are many other exchanges too. “Why did you(CZ) resumed UST and LUNA trading knowing that it is a failed project and also Luna mint is still happening although you tweeted 'no more minting'?”ĬZ - I saw this question earlier, but it looks like it disappeared as I was answering. You can also follow the link if you’d like to see the Reddit thread firsthand.ġ. We have also included a few unanswered follow-up questions in the first section, marked with a **. Some questions have been cut shorter to make them suitable for display, denoted with a *. A Saturday Afternoon of Questions With Binance’s CZ We’ve even included some unanswered topics that CZ has since covered, so there’s some new for everyone. For those who didn’t follow it live, we’ve gathered here all the questions and responses posted. As one of the most active crypto communities on the web, Reddit’s r/CryptoCurrency subreddit played host to CZ’s latest AMA on May 21. We all like to be in touch with the projects and services we support, and Binance is no different. If one thing’s for sure, the crypto community has an appetite for direct questions and sincere answers. Here’s your chance to catch up with last Saturday’s AMA session and learn more about what’s on the community’s mind. We want to hear your opinions and make your voices heard.Īs one of the industry’s most prominent leaders, there aren’t many crypto fans who wouldn’t have a few questions to ask Binance’s CZ. Getting in direct touch with the community is a vital touchpoint for Binance and CZ. On Saturday, May 21, CZ spent an hour answering r/CryptoCurrency’s top questions.ĬZ has also taken the time to reply to a selection of unanswered questions from the AMA session.

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