WeTrust [TRST] - Four Takeaways from Binance’s Marketing
As of January 2018, China based Binance is the world’s largest cryptocurrency exchange, and at present time its BNB
cryptocurrency token has a market cap of over 600 million dollars.
Binance has achieved this rapid growth through its exceptional marketing
efforts. The company allocates 50% of its funds towards branding and
marketing, including continuous education on blockchain and Binance’s
role in the blockchain ecosystem. By doing this, Binance not only
promotes itself to cryptocurrency investors and attracts users to its
platform, but also spreads awareness and adoption of blockchain among
the general public. Given their leading position in the industry,
there’s a lot that blockchain businesses can learn from Binance’s
marketing strategy. Here, we look at four key elements of this strategy.
Build a Sense of Community
great example of Binance’s community building efforts is their video
competition campaign. Binance asked users to make videos explaining what
the company does, and to upload those videos to YouTube. The creators
of the best videos would win Binance’s BNB tokens. This campaign
encouraged users to advertise Binance to the rest of the world. In the
process, those users thought about Binance’s selling points and began to
feel that they were representatives of Binance. They may even perceive
the video they made as a small commitment to Binance’s values and
mission. The winners of the video contest may feel obliged to
reciprocate Binance’s generous token prize by further evangelizing the
company. And, even those who did not win the video contest or who did
not participate would still see the large number of videos promoting
Binance and come to think more positively about the company. In this
way, Binance very effectively leveraged a sense of community and
belonging to further its promotional goals.
community that has developed around the BNB token is another great
example. Binance lets users vote on which tokens they would like to see
listed on the exchange. By doing this, they promote a sense of ownership
among their users, making them feel as if they are a part of the
decision making process. In addition, the publicity around voting for
tokens drives further engagement on the Binance platform and furthers
the idea that Binance is creating a community of like minded and
empowered blockchain enthusiasts.
Spirit of Competition
addition to the video competition mentioned above, Binance regularly
creates other contests to promote its brand. These include coding competition targeted at its technically inclined users and
among its musically gifted users. Members of the blockchain community
have been very active in participating these contests, and interest in
the contest has generated additional publicity for Binance. By
leveraging their users competitive instincts, they have also found a way
to let its community create authentic and passionate marketing
material. As an added benefit, Binance has now separated its committed
community into channels with specific interests in topics like coding or
music. It can then target its messaging specifically towards people
with those interests.
In the book Delivering Happiness, entrepreneur Tony Hsieh writes about how happy customers of his company Zappos
were when their shipping was surprisingly upgraded for free. In
addition to generate great feelings about the brand, the customers ended
up telling their friends about the free upgrade, creating even more
buzz for Zappos in the process. Unexpected gifts and benefits can go a
long way towards creating a positive impression of a brand. Binance has
used this type of marketing strategy by using 20% of its profit to offer
users free trades and “buyback and burns”. Bold and generous marketing
campaigns like this have created a lot of positive buzz and word of
mouth. In one case, Binance even announced a surprise Lamborghini giveaway that created a lot of excitement among its fans.
common theme of Binance’s marketing efforts is their focus on
experiences. These experiences can range from creating a piece of music
or a video promoting Binance to a sudden realization that a free trade
has occured to voting on which tokens to list on Binance next. These
experiences make the users actively participate in building the Binance
brand and platform, giving them both a sense of ownership and a feeling
of investment in the company’s success. In addition, Binance targets
specific users with each of their marketing campaigns and crafts
specific experiences that will appeal to those users. The result is a
virtuous cycle in which users do more with Binance, which generates more
revenue and can give its users more positive experiences, which only
leads more users to do more on Binance.
holds valuable lessons for everyone in digital marketing, both inside
and outside the cryptocurrency space. All start-up companies can learn
from Binance and leverage a sense of community, competitive spirit,
exciting surprises, and meaningful experiences to achieve viral growth.
new version of the ARK Desktop Wallet has been released. The best ARK
wallet just got even better thanks to your input! Many of the
improvements and new features are a direct result of community feedback,
testing and bug reporting.
has only been two weeks since the release of version 2 of our Desktop
Wallet and there have already been several improvements and bug fixes. A
sincere Thank You to the community developers who have helped ARK in
the past and continue to support us.
The new wallet is available for download at: https://github.com/ArkEcosystem/desktop-wallet/releases
Hashes for 2.1.0. of Desktop Wallets (SHA256)
7f6b50aa010915bdf79f9a11478dfd5dfc7d962cb0dd1598bde4ef4acf53675fWindows X86 (Ark.Desktop.Wallet-x86–2.1.0.exe)
1685233b81d79bd9b40e1d95f8f3b1dbe97b34821a8ee4da6fe2af9826accd53Windows X64 (Ark.Desktop.Wallet-x64–2.1.0.exe)
What was fixed or added?
Renaming Ledger wallets — it
is now possible to rename your Ledger wallets from the default name to a
customized name. You can set the name by opening a Ledger wallet,
clicking the three vertical dots on the right and selecting “Wallet
name” to rename it.
You can now rename your Ledger wallets
Including Ledger wallets in the total balance — The total balance of all wallets, including Ledger wallets is now displayed at the top of the wallet overview page.
Total balance now takes into account your Ledger wallets
Optional caching of the Ledger wallets — gives
the option of caching Ledger wallets to speed up initial loading. This
is useful for users with multiple Ledger addresses. This is off by
default and the switch can be found on the “My wallets” page when a
Ledger is plugged in. If the option is turned off, all cached Ledger
wallets for that profile are removed from the cache.
Option to cache Ledger wallets (saving to local storage)
Update Ledger in the background — In
the settings menu you can now choose to Update Ledger addresses in the
background. Turning this on will continue to update all ledger addresses
while in the main transaction screen. This runs a process in the
background to determine if transactions have been processed. If off,
pending/expired transactions will only show when viewing a specific
Ledger wallet address.
Option to update Ledger in the background for up to date data
Rebroadcast expired transactions — After
the default expiration of 45 minutes, expired transactions can now be
rebroadcast with a simple click of the “Resend” button. Alternatively,
you can choose to discard the transaction.
Resend or discard expired transaction
Adding Changelly as an option to purchase ARK — Changelly is now integrated with the v2 wallet.
After the release of the v2 wallet, we received many questions asking
when Changelly would be re-implemented and we heard you loud and clear.
This integration of Changelly is a basic version that will mimic the
performance you are familiar with from v1 of our desktop wallet. Our
next release will feature a new and blended design that better matches
the aesthetic of the rest of the wallet.
You can now purchase ARK from within ARK Desktop Wallet
Properly validate fields when populated by AIP 13 (URI Scheme) — if
you are using ARK’s URI scheme it now properly validates fields and
makes it possible to send a TX. URI scheme plays a big role in our
upcoming ARK Pay module.
Properly validates and fills up all fields that were obtained from URI link
Show full time of the transaction —the full date and time are now shown for transactions.
Shows peer you are currently connected toShows “Rank” inside voted banner — SelectingDelegates on the wallet page now displays a banner the bottom showing the delegate and rank for whom you are currently voting.
Now also showing rank of the voted delegate
Obtain and display the balance of contacts — you can now view balances of the added contacts on the “My contacts” page.
Balance of the contacts is now displayedRecipient search case insensitive — for better UI experience we made recipient case insensitive (was sensitive before).
Searching for recipient is now case insensitiveDisplay helper text when a known address is recognized — when the address is a known address, a helper text will be displayed under the Recipient field.
Shows a text below the field if its recognised walletInputting small numbers into the input field — the input of small numbers has been corrected. For example, 1e-7 now is properly displayed as 0.0000001.
Before / After
Option to enable or disable chart on the dashboard — you can now disable or enable the price chart on the dashboard in settings.
Option to enable or disable chartAdd avatar profile “more” icon — Alerts to the presence of a profile page when clicking on the Avatar in the lower left corner.
“More” iconSeparate logo in the sidebar — for better aesthetics we have separated the logo from the menu.
P.S. Clicking on the logo takes you to the dashboardChart buttons hover background color — there was no visual feedback when hovering over the chart header buttons. We have added it for a better UI experience.
In February, Numeraiannounced Numeraire,
a cryptographic token to incentivize data scientists around the world
to contribute artificial intelligence to our hedge fund (see Forbes, Wired, Smith+Crown).
Earlier today, the Numeraire smart contract was deployed to Ethereum,
and over 1.2 million tokens were sent to 19,000 data scientists around
A Protocol For AI
Numerai is building the protocol to connect machine intelligence to the stock market, and we want you to build on top of it.
has made over $200 000 in payments to our users. We have used bitcoin
to make these payments. The problem with bitcoin is that it exists on a
different blockchain to the Numeraire token. This drastically limits the
extent to which decentralized applications based on Numerai can be
automated and unstoppable because these applications cannot receive
payment in bitcoin, they can only receive and use ether.
Numerai made payments in ether, then a decentralized application on
Ethereum could automatically use that ether to fund its operations (for
example, its gas costs). Bitcoin payments make sense for people not for
decentralized autonomous organizations (DAOs). We want to move more of
Numerai onto Ethereum to accommodate DAOs. Making payments in ether will
have large cascading effects for the kinds of applications that can
interface with Numerai.
we are announcing that we are abandoning bitcoin. It will be phased out
of Numerai by September 30th. From that point on, all payments will
flip into ether and Numeraire.
Numeraire Live On Ethereum
today, data scientists can withdraw Numeraire tokens to any Ethereum
address, and interact with the smart contract. Data scientists can also
use Numeraire to earn more money by staking it on their predictions. If
their predictions perform well, they earn more money. If their
predictions perform badly, their Numeraire is destroyed on the
The staking mechanism
creates a powerful new incentive to build the best machine learning
model on Numerai. For thousands of people, staking Numeraire will be the
first time in their lives they have interacted with an Ethereum smart
contract. And they can do it all from Numerai’s website without needing
to manage keys or use an Ethereum client. This is not speculative; you
can stake Numeraire right now, and the Ethereum transaction will
influence the course of Numerai’s hedge fund.
Staking Numeraire on the Ethereum blockchain
Proof Of Intelligence
is important to us that the holders of Numeraire are the people who it
is most valuable and useful to: the data scientists building Numerai. So
we have distributed the initial allocation of Numeraire for free to our
data scientists based on their past performance in Numerai’s
tournament. Numeraire can only be earned by competing in Numerai’s data
The Numeraire token is the reward for proving the intelligence of a machine learning model on Numerai.
community update includes the next installment of our creature creation
journey and name the creature competition, the next chapter of the
Augmentors backstory and some more information regarding the game.
Creature Creation Journey and Competition Update
For those who missed last week’s update,
we would like to take you all on the journey of creating a new
creature. This journey will culminate in someone from the community
naming the creature, winning a 3D printed model of the creature and a
digital in game token of the creature! Runner up prizes are also up for
grabs! See last week’s post for the full competition details and rules.
now, time to reveal the next phase of the creature. The black and white
sketches have been brought to life in full colour and I reckon this
will be one of our most popular creatures.
Creature coming to life
armoured creature will now brave the 3D modelling phase of creation. If
you want to get your hands on the first in game token of this creature
you’ll need to get creative with names and get ready to enter the
competition when it opens on November 10.
the second age of the Realm something happened, something that would
come to change the fate of the entire Realm. Below the Great Tree in the
Amber Wood, a birth-portal opened. It was a strange portal, unlike any
that had preceded it. It opened slowly; the usual blue light was more
intense and contained sharp streaks of purple…
Thanks for all the feedback regarding the new mechanics announced in last week’s update.
A number of members have asked some valid questions, and offered to
help as we refine it over the coming months. Thanks for your support.
will try and answer one common question about how the deck-building
will work by sharing the current thinking. Each creature will come with
some standard abilities and players will be able to equip it with
different spells (cards). Cards will have varying rarity, and come from
booster packs (either from grinding in the game or bought from the
store). Before every match players will be able to decide what spells
they want to equip before going into battle.
we are working on a mechanism to get the community more involved in
gameplay design through iterative feedback. Details of this will be
announced ahead of pre-alpha.