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Binance Launches Smart Contract-Enabled Blockchain, Adds Staking for Its Coin
Crypto exchange Binance has launched the mainnet for its smart contract-enabled blockchain and is also introducing staking for BNB tokens.
Updated Sep 14, 2021, 9:50 a.m. Published Sep 1, 2020, 4:53 p.m.
Cryptocurrency exchange Binance said Tuesday it launched the mainnet of its smart contract-enabled blockchain and is introducing staking for its native Binance token.
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- In a press statement emailed to CoinDesk, the crypto exchange said it hopes to foster the development of decentralized apps (dApps) and decentralized finance (DeFi) products by adding these features.
- The new blockchain will use a “Proof-of-Staked” Authority (PoSA) consensus mechanism, which Binance claims will allow the validators to receive rewards for their work on the chain without sacrificing transaction speed.
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- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
What to know:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
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