Established to support the development and growth of the EOS ecosystem; the EOS Network Foundation plays an integral role in ensuring the long-term viability and growth of EOS’ global decentralized network. In terms of community support, the EOS Network Foundation (ENF) provides funding and resources to support the EOS community. This includes, among other things, attending meetups and conferences, providing resources for developers and entrepreneurs, and funding development projects. With this support, the ENF helps to promote the growth of EOS and to attract new users and developers to its ecosystem.
In addition to community support, the EOS Network Foundation is very much involved in ecosystem development. The ENF fosters partnerships and collaborations with other blockchain projects and companies, promotes interoperability and integration with other platforms, and provides guidance and resources to help developers build on the EOS blockchain. With this kind of support for ecosystem development, the ENF helps to expand the use cases and potential of the EOS network, as well as contribute to the growth and development of the wider blockchain ecosystem.
In this article I’d like to discuss some of the most recent of these partnerships, and also ones that I believe will have a great impact on the success and growth of the EOS network this year. This is not to take anything away from the amazing partnership the ENF, and by extension EOS, has with other leading blockchain networks that share EOS’ underlying protocol - the Antelope Coalition. Also not forgetting the recent partnerships with the Blockchain Gaming Alliance and the Canadian Blockchain Consortium.
Without further deliberation, let’s look into these new partnerships and what they stand to contribute to the EOS ecosystem over the next couple of months of this year.
Binance is the world’s biggest cryptocurrency exchange and has by far the largest market share by daily trading volume. It is a key industry player and plays a vital role in the adoption of blockchain and cryptocurrency technologies due to its efforts to make these technologies more accessible and user-friendly for the masses.
One of Binance's primary contributions to the industry has been the development of its own cryptocurrency exchange platform, which has become the most popular in the world. Binance has also been proactive in promoting the use of blockchain and cryptocurrency technologies by partnering with a range of companies and organizations around the world.
Binance has also been actively promoting the industry through a range of initiatives. For example, the company has launched a charity foundation that aims to use blockchain technology to improve transparency and accountability in charitable organizations. Binance has also been involved in a number of education and awareness campaigns to help promote the benefits of blockchain and cryptocurrency technologies to the broader public.
Considering that Binance is a leading Block Producer on the EOS network, its partnership(s) with the EOS Network Foundation (ENF) further strengthens the ties between Binance and EOS. This partnership is part of the EOS Network Foundation's goal to get the EOS network widely regarded as a leading player in the crypto and blockchain industry.
Binance's integration of USDT onto the EOS network is expected to have significant implications for the growth of the EOS ecosystem. This integration will enable Binance users to move USDT in and out of the EOS network without having to convert their holdings to EOS or use third-party bridges that are often subject to security risks. The experience will be as seamless as transferring USDT to any other major blockchain network, making it easy for Binance's 30 million registered users to use EOS-native USDT.
Binance's integration of USDT onto the EOS network is expected to have significant implications not only for the EOS ecosystem, but also for other Antelope powered networks. With Antelope IBC (Inter-Blockchain Communication) coming in the very near future, this milestone will benefit other Antelope-powered networks by providing a seamless USDT transfer experience.
This development is part of the EOS Network Foundation's initiative to get EOS-native USDT listed on major exchanges. Binance is one of the largest crypto exchanges globally, with over $16 billion in trading volume over the past 24 hours (as of writing), making it a top tier partner for EOS.
This feature comes at a perfect time, as new initiatives like Yield+ seek to increase the total value locked (TVL) of the network by providing yield incentives to EOS DeFi applications based on the value of EOS and USDT they lock into the Yield+ protocol. This initiative has the benefits of increasing the EOS network’s TVL; decreasing available supply of EOS tokens while raising the demand for them. Leading to increased economic activity and opportunities on EOS.
One of the most significant advantages of the integration is that anyone holding USDT on Binance can now send USDT with all the benefits that EOS has to offer such as EOS’ cost effective and faster transactions. As a result, EOS could become the leading network for transacting USDT, encouraging other major platforms to begin exposing themselves to EOS’ superior blockchain technology.
All in all, the Binance-USDT integration onto the EOS network is a significant development that will help in the growth of the EOS ecosystem. By enabling Binance users to move USDT seamlessly into the EOS network, EOS-native USDT is likely to gain more adoption, particularly in DeFi applications.
Last month saw Binance introduce EOS into its ‘Learn and Earn’ program that helps its users gain knowledge about blockchain and to complete quizzes for a chance to earn free crypto. The program aims to provide Binance users with a platform to learn about different cryptocurrencies, blockchain technology, and related topics.
The Learn and Earn program consists of a series of educational videos, quizzes, and assignments that users can complete to earn rewards in the form of cryptocurrencies. The rewards can be used for trading on the Binance platform or withdrawn to users’ external wallets.
The program covers a wide range of topics, including blockchain basics, cryptocurrency trading, technical analysis, DeFi (Decentralized Finance), and more. The educational content is presented in an easy-to-understand format and is suitable for beginners as well as advanced users.
Binance users can access the Learn and Earn program directly on the Binance website or mobile app. The program is free to join, and users can earn rewards for completing each course. In the first 5 days of the EOS program being active, 10,000 people had already participated in learning about EOS and what makes it unique from other blockchains they may already be familiar with.
Overall, Binance Learn and Earn is a great initiative for users who want to learn more about cryptocurrencies and blockchain technology while earning rewards at the same time. By providing users with a platform to learn and earn, Binance is helping to spread awareness and adoption of cryptocurrencies and blockchain technology. In this case, spreading EOS awareness and adoption.
Leading EOS BP (Block Producer) Binance recently held an AMA event with the ENF founder and CEO, Yves La Rose, to discuss EOS developments. The Ask-Me-Anything event, which was streamed live on Binance’s website, also comes as a result of the partnership between the ENF and Binance.
The AMA went through everything relating to the current state of development of the EOS network and its ecosystem including IBC, Antelope Coalition, key EOS features, and the upcoming EOS EVM, just to name a few. Overall the AMA gave a brilliant overview of what’s been happening in EOS over the past five years.
For those who are new to the crypto/blockchain industry, the AMA was a great introduction to EOS and its amazing ecosystem. In addition to submitting questions, viewers and listeners were kept engaged with multiple opportunities to get rewarded in EOS tokens.
The AMA on Binance’s website has since garnered over 30,000 views since it went live just two weeks ago, much more than what is typical for any other video content from within the EOS ecosystem. Which marks yet another initiative that has helped raise awareness and adoption of EOS.
Messari is a data analytics and research firm that provides insights and information on the cryptocurrency industry. It was founded in 2018 by Ryan Selkis, a former managing director at CoinDesk - a leading media platform that covers news, analysis, and events related to blockchain technology, cryptocurrencies, and the wider fintech industry.
Messari offers a range of tools and services to help investors, researchers, and businesses navigate the cryptocurrency market. Its range of tools and services include a database of crypto assets, research reports, API access, market data dashboard, custom research and consulting services.
“Messari brings transparency to the cryptoeconomy. We want to help investors, regulators, and the public make sense of this revolutionary new asset class, and are building data tools that will drive informed decision making and investment. We believe that crypto will democratize access to information, break down data silos, and ultimately give everyone the tools to build wealth.” - Messari (Mission statement)
The new partnership with the EOS Network Foundation will soon see Messari publish a ‘Introduction to EOS’ report which will provide an overview of the EOS blockchain and its underlying technology. The report is also likely to cover the background and history of EOS; a brief history of EOS and its development, as well as the key features and benefits of the blockchain platform. It will most likely also cover the future development plans for EOS including upgrades, new features, and partnerships.
In addition, the partnership will see Messari publishing quarterly reports on EOS, which will cover the current state over the next 5 quarters. The publication of quarterly reports by Messari covering the EOS ecosystem presents several opportunities for EOS.
These opportunities include:
Increased visibility: The reports are likely to attract attention from investors, researchers, and businesses looking to gain insights into the EOS ecosystem. This could lead to increased awareness and interest in the platform, potentially attracting new users and developers.
Objective analysis: Messari is known for its independent and objective analysis of the cryptocurrency industry. The publication of its reports on EOS will provide an unbiased assessment of the platform's strengths, weaknesses, and overall market position.
Improved transparency: The reports are likely to improve transparency within the EOS ecosystem by providing data and insights on key metrics such as user adoption, transaction volume, and developer activity. This could help to identify areas for improvement and promote accountability within the ecosystem.
Benchmarking: The regular publication of reports by Messari will provide a benchmark for measuring the progress of the EOS ecosystem over time. This could help to track the platform's growth and identify areas for further development.
Industry recognition: The fact that Messari has chosen to publish quarterly reports on EOS is a positive signal for the platform and its ecosystem. This could help to attract more attention from other industry players, potentially leading to new partnerships and collaborations.
All in all, the publication of quarterly reports by Messari on the EOS ecosystem is a positive development for the platform and its ecosystem. It is likely to increase visibility, promote transparency, and provide valuable insights for investors, researchers, and businesses interested in EOS and its blockchain ecosystem. Furthermore, this gives EOS stakeholders, more specifically the EOS Network Foundation, extra incentive to achieve impressive milestones in order to exhibit the qualities of EOS to the wider industry.
The partnerships formed by the EOS Network Foundation are a significant step towards realizing the potential of EOS, and they will provide numerous benefits and opportunities for the EOS ecosystem. Perhaps more importantly, these partnerships will lead to increased awareness and adoption of EOS. I fully expect these partnerships to introduce a lot more people to EOS and its highly performant blockchain. As a result, this will create a new pool of developers and entrepreneurs that will contribute to the growth of EOS and lead to a thriving EOS ecosystem.
These partnerships represent a major milestone in the development of the EOS community. The fact that the EOS Network Foundation has been able to attract such reputable partners demonstrates the network's potential and its position in the blockchain industry. The collaborations will also create a ripple effect, attracting more partners and increasing the network's value proposition.
One other thing that should not be overlooked is how the EOS ecosystem seems light years away from where it was just two years ago when development and growth were on a declining trend. The community support and development from the EOS Network Foundation promises to have an amplifying effect as the growth of the ecosystem will lead to a larger self-sustaining network that is more widely recognized.