Coin An's "Open" Worldview: BNB's Transformation from a Native Token to an Ecological Bridge

Abstract: BNB is actively undertaking the opening-up strategy of Coin An, becoming a bridge for the Coin An ecosystem.Image sourced from the internetOn April 18th, Coin An completed the BNB destruction work in Q1 2020, destroying a total of 3.37 million BNBs worth $52.47 million. The number of destroyed BNBs increased by 52% compared to the previous quarter and 306% compared to the same period last year. 3.37 million BNB, also setting a historic high for the quarterly destruction of Coin An.According to the mechanism of "destroying 20% of quarterly profits" by Coin An, it can be inferred that:In the first quarter of 2020, the profit of Coin An was 262 million US dollars, approximately 1.85 billion RMB.Among them, it is particularly important to pay attention to changes in the market environment. Under the impact of the epidemic, global production and life have stagnated, consumption levels have fallen to freezing point, and financial markets are filled with lamentations. The U.S. stock market has four circuit breakers in 10 days, and the yield of the 10-year U.S. treasury bond bond hit 0.4%, a new 150 year low. Gold with its own risk aversion attribute was sold due to the lack of liquidity. The cryptocurrency market has also suffered a bloodbath, with Bitcoin almost halving and falling below $4000 in the short term.The global economic performance showed a significant decline in the first quarter. China's GDP in the first quarter of 2020 decreased by 6.8% year-on-year, and the overall performance of the US banking industry was poor. JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Morgan Stanley, and Goldman Sachs' net profit in the first quarter decreased by 69%, 45%, 46%, 89%, 30%, and 46% year-on-year, respectively.The epidemic has not seen a turning point, and no one can say the market changes in the second quarter. However, in the crypto asset industry, Bitcoin is rapidly recovering from the epidemic and regaining its position at $7000. As the seventh largest crypto asset market in the world, BNB has not only withstood the impact of the epidemic but also demonstrated strong resilience by connecting the entire crypto security ecosystem network, ultimately presenting a "quarterly report" that exceeded industry expectations.Exploring the underlying reasons may largely fall on the series of actions taken by Coin An to "build a complete ecological chain and empower BNB".Coin An's "Open" WorldviewAs a leading enterprise in the field of encrypted assets, Coin An has been pondering how to use its global advantages to connect the upstream and downstream of the industry, so that the value of BNB can flow along the industry chain and ultimately affect the long tail users of the industry.CoinMarketCapCMCCoin An's "Open" Worldview

Abstract: BNB is actively undertaking the opening-up strategy of Coin An, becoming a bridge for the Coin An ecosystem.

Image sourced from the internet

On April 18th, Coin An completed the BNB destruction work in Q1 2020, destroying a total of 3.37 million BNBs worth $52.47 million. The number of destroyed BNBs increased by 52% compared to the previous quarter and 306% compared to the same period last year. 3.37 million BNB, also setting a historic high for the quarterly destruction of Coin An.

According to the mechanism of "destroying 20% of quarterly profits" by Coin An, it can be inferred that:In the first quarter of 2020, the profit of Coin An was 262 million US dollars, approximately 1.85 billion RMB.

Among them, it is particularly important to pay attention to changes in the market environment. Under the impact of the epidemic, global production and life have stagnated, consumption levels have fallen to freezing point, and financial markets are filled with lamentations. The U.S. stock market has four circuit breakers in 10 days, and the yield of the 10-year U.S. treasury bond bond hit 0.4%, a new 150 year low. Gold with its own risk aversion attribute was sold due to the lack of liquidity. The cryptocurrency market has also suffered a bloodbath, with Bitcoin almost halving and falling below $4000 in the short term.

The global economic performance showed a significant decline in the first quarter. China's GDP in the first quarter of 2020 decreased by 6.8% year-on-year, and the overall performance of the US banking industry was poor. JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Morgan Stanley, and Goldman Sachs' net profit in the first quarter decreased by 69%, 45%, 46%, 89%, 30%, and 46% year-on-year, respectively.

The epidemic has not seen a turning point, and no one can say the market changes in the second quarter. However, in the crypto asset industry, Bitcoin is rapidly recovering from the epidemic and regaining its position at $7000. As the seventh largest crypto asset market in the world, BNB has not only withstood the impact of the epidemic but also demonstrated strong resilience by connecting the entire crypto security ecosystem network, ultimately presenting a "quarterly report" that exceeded industry expectations.

Exploring the underlying reasons may largely fall on the series of actions taken by Coin An to "build a complete ecological chain and empower BNB".

Coin An's "Open" Worldview

As a leading enterprise in the field of encrypted assets, Coin An has been pondering how to use its global advantages to connect the upstream and downstream of the industry, so that the value of BNB can flow along the industry chain and ultimately affect the long tail users of the industry.

过去半年甚至一年，币安一直在做的一件事就是“对外开放”，这种开放既包括战略层面上的合作开放，也包括技术服务能力的开放。近期，币安云、收购CoinMarketCap（以下简称“CMC”）、币安智能链这三大重要决策将Coin An's "Open" Worldview体现的淋漓尽致。

Coin An started with cryptocurrency spot trading and has grown into the world's largest cryptocurrency trading platform in less than three years. In April 2019, Coin On launched Coin On Chain, officially laying out the underlying public chain solution.

The underlying public chain is equivalent to the infrastructure of blockchain, which undertakes the entire lifecycle operation of the project. The important reason why the exchange public chain has caused a significant response is that the previous trading platform obtained trading users from the secondary market. Through the underlying public chain, it can attract project parties to develop DApp projects and directly serve project parties through platform tokens, thus directly completing the complete deployment from project development to secondary market trading and long-term operation.

For trading platforms, the underlying public chain can further open up the ecological space of platform tokens, stimulate user vitality, and create a controllable and comprehensive ecological service network; For the project party, it directly reduces the operational cost of the project and can achieve one-stop deployment and trading based on the exchange public chain.

The birth of Coin Security Chain is for the better operation of BinanceDEX, a decentralized trading platform for Coin Security. It provides a high-performance matching engine based on distributed consensus. After running smoothly for nearly a year, the block height of Coin Security Chain has exceeded 78 million, recording over 74 million transactions. However, Coin Security Chain did not have the function of building smart contracts before.

On April 17th, the Coin Security Chain team released a solution to expand the functionality of Coin Security Chain through parallel chain: Coin Security Intelligent Chain. This solution will achieve developer friendly smart contract functionality while retaining the high-performance matching of Coin Security DEX. And it is fully compatible with the existing Ethereum ecosystem.

This means that the Coin On Smart Chain is fully open to the Ethereum ecosystem, and all applications on Ethereum can run on the Coin On Smart Chain. Ethereum users can also seamlessly connect with the Coin On Smart Chain. It can be foreseen that in the future, the Coin Security smart chain will carry a large number of DApps and financial encryption assets, just like Ethereum.

At the same time, it natively supports cross chain interoperability. Users can easily complete cross chain transfers and information exchange. Assets in both blockchains can be traded on Coin Security DEX. Users can enjoy the high-performance matching engine of Coin Security DEX, and can also complete independent development on Coin Security intelligent chain. From another perspective,BNB will directly benefit from the upgrade of the underlying chain by playing the role of the original token in Coin Security Chain and Coin Security Smart Chain.

Another major decision for "open services" is the one stop solution for digital asset trading platforms launched by Qianan Cloud on February 17th this year. By mapping all the core functions of the Coin An Trading Platform, from its powerful matchmaking engine technology, risk control settings, and big data security system to market depth and liquidity, Coin An Cloud enables its partners to launch independent digital asset trading platforms through the platform.

In the eyes of outsiders, this is because Coin An is cultivating competitors and "helping others make money" for itself. However, the actual situation is that through cloud services, Coin An can transfer its technology accumulation in the industry to more partners, thereby reaching more B-end and C-end users. On the basis of sharing resources with ecological partners, Coin An can supplement its technical service capabilities and further improve BNB's trading depth through secondary markets, This directly reflects the overall thinking of Coin An in promoting industry development through openness.

In an interview with Bloomberg, Zhao Changpeng stated that in the next five years, Coin On Cloud will replace the Coin On blockchain asset trading platform as the largest source of revenue.

More than a month ago, Junan announced the launch of the cryptocurrency trading platform BinanceKR in South Korea, becoming the first cryptocurrency trading platform deployed on Junan Cloud and supporting the stable currency BinanceKRW (BKRW) supported by the Korean won (KRW). Through BinanceKR, a critical step towards "open services" has been officially taken.

The third major decision of "open services" is the massive acquisition of CMC by Coinanz. According to TheBlock, the acquisition amount ranges from $300 million to $400 million, while Coin An's cumulative profit for the entire year of 2019 was $578 million. Zhao Changpeng has stated that in the future, CMC will expand its product range to contract trading, derivatives, options, lending products, DApps, and all products related to data and dynamic updates.

Upon closer inspection, the endpoint of this transaction directly points to building CMC into the core of encrypted assets and a data underlying platform with sufficient diversity of data services. If we say that Coin An Cloud and Coin An Intelligent Chain respectively serve customers on the big B and small B end. So, as an infrastructure product in the crypto asset industry, CMC directly affects a wide range of C-end users.

According to SimilarWeb, CMC has attracted 207.2 million views in the past six months, making it a true concentration of traffic in the cryptocurrency industry. Coin An also has tens of millions of global users, covering over 180 countries and regions.

From this perspective, with the deepening of the three major opening-up decisions, the basic pattern of a complete ecosystem of Coin Security will be established.

Acceleration of Coin Security Ecology, Actively Empowering BNB

Including this time, Coin An has destroyed BNB 11 times. Through these 11 destruction records in the past three years, a complete restoration of the iteration history of Coin An can be achieved.

On October 18, 2017, BNB, which had established a deflationary mechanism, was destroyed for the first time, with 986000 BNBs destroyed that quarter. Following the bull market cycle of Bitcoin, the number of coin security destruction is increasing in the short term.

Historical destruction status of BNB; Drawing: Chain Dede

From 2018 onwards, this is also a crucial year for the global breakthrough of Coin Security. Coin An has established contacts with political figures from Uganda, Jersey, Liechtenstein, Singapore, and other countries, and has launched the French currency exchange in Uganda and Jersey.

In 2018, we added at least 50 partners to support BNB circulation. Coincoin now has a comprehensive range of usage scenarios, including not only booking flights, hotels or bars, cafes, restaurants, but also online gaming and entertainment scenes. BNB users can even use BNB as collateral for loans. Looking back at 2018, Zhao Changpeng appears complacent.

Since then, Coin Security has led and participated in every major change in the crypto asset industry.

In January 2019, Coin On Launchpad announced its restart, leading a wave of "discounted subscription" for crypto assets. A large number of investors rushed into the market to exchange BNB for IEO subscriptions, ultimately helping BNB break a record in June, reaching a historic high of $39.59, an increase of over 500%

At that time, the return on investment for each IEO exceeded 400%. The huge wealth effect has also sparked a wave of imitation within the industry. As the market gradually cooled in the second half of 2019, "imitators" such as HuobiPrime, OKJumpstart, BitMaxEVO, and Bibox Star Plan almost disappeared. Coin On Launchpad conducted a total of 11 projects in 2019, with a total financing amount of over 56 million US dollars.

In 2020, Coin An continued to promote IEO in the bear market, bringing its ability to continuously explore high-quality projects deeper. In the first IEO of 2020, India's WRX achieved the highest return of 1200% on Coin An, while BNB's linked return increased by over 30% in January. When the second phase of the IEO project was recently announced, BNB also rose by over 10% on the same day.

In 2019, ecological construction was comprehensively accelerated in Coin An. On the one hand, in addition to Jersey and Uganda, we have also established the Coin An US fiat trading platform, Coin An Singapore fiat trading platform, Coin An Australian fiat trading platform, and Coin An Latin American fiat trading platform with ecological partners on the fiat channel.

On the other hand, in 2019, Coin On continuously launched complementary business lines such as IEO, public chain, DEX, contract, and C2C, and established the Blockchain Charity Foundation (BCF) to raise donations through BNB, achieving full process witnessing and traceability of donations. Coin On Charity raised $3076215 in 2019, benefiting over 100000 people. In addition, dozens of companies, including the acquisition options platform JEX, data analysis platform DappReview, and investment derivatives trading platform FTX, have continuously enriched their products and business forms. In 2019, the cumulative annual profit of Coin Security was $578 million, an increase of $133 million compared to the full year of $445 million in 2018.

BNB has "transformed"

For Coin An, they have long departed from their old identity as a "digital currency trading platform" and become a comprehensive service platform covering digital assets, cloud services, data services, and blockchain technology services. In the past three years, Coin An has made profits from crypto asset trading, and now they need to open up the potential energy they have accumulated to more ecological practitioners.

BNB is the core fuel for the crypto asset trading platform of Coin Security. Based on Coin Security's continuous activation of its business globally, it is actively undertaking Coin Security's opening-up strategy. BNB has also gradually upgraded from a transactional token to a "linker" role, becoming a bridge for coin security ecology. Currently, BNB has over 1 million holding users, over 180 application scenarios, and a market value of over 17 billion yuan.

For Zhao Changpeng, Coin An is building an "open platform", which is a self innovative and self evolving business model, rather than simply pursuing personal wealth accumulation. This is particularly valuable in a chaotic early industry. On February 28th, Zhao Changpeng posted on Weibo about being the richest person in the blockchain field on the Hurun Rich List, saying, "I looked at my wallet and found that the valuation is a pie. Since I started Coin An, I haven't realized anything. Coin An is still a baby and continues to accompany her as she grows up