Binance has identified and moved to restrict the use of alpha exploiting bots, its precocious access tokens distribution system, the exchange said on June 4.
In an article, Binance said that she had “recently detected certain groups using bots to participate in Alpha activities, which undermines the equity of the Binance Alpha Points program”. He added that he had taken measures to stop the activity. “We have improved our risk control systems to improve the detection and handling of this behavior,” said exchange.
Binance said that any use of bots will be treated as a violation by exchange. The Company also said that it “reserves the right to revoke the admissibility to the alpha points of Binance of the accounts involved in such activities and can impose other restrictions if necessary.”
Binance had not responded to the request for comments from Cointelegraph at the time of publication.
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What is Binance Alpha?
Binance Alpha is an early access center inside the Binance portfolio where users can discover web3 projects at an early stage, buy “alpha” tokens before potential exchange lists and collect alpha points. These are points in a rating system based on portfolio balances and trading activity that determine the eligibility for token generation events and the Airdrops.
The program has become a major engine of the activity of the BNB chain. According to May reports, more than 71% of alpha tokens were launched on the BNB channel, and the network has experienced more than a million new addresses per day and increase the weekly volumes.
This is not the first time that the exchange has increased the application of the service. In early May, Binance announced that his Alpha platform had implemented a new frame for a complete chip exam to remove tokens that do not meet the specific quantitative and qualitative criteria.
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Binance Alpha “Killing Airdrops”
The service attracted its fair share of criticism, some accusing it of “killing paratroopers” with its arrangements. Some users have also raised concerns about the strengthening of the early community by the start of the community.
An aerial card is an marketing and distribution method in which a cryptocurrency project distributes free tokens to the holders of an existing cryptocurrency (or users who meet specific criteria) to raise awareness, reward the first supporters or decentralize the property of the tokens. The recipients generally receive tokens directly in their free -cost portfolios, often depending on past assets, onchain activity or participation in promotional tasks.
Giving digital assets is an infallible way to attract attention. For this reason, the Airdrops are also often at the center of scam tactics where bad players exploit media threshing, emptying wallets through false campaigns.
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