B i n a n c e E x c h a n g e www.binance

1 Binance Exchange Whitepaper Intro3 Problems3 Binance Exchange4 Matching Engine4 Feature Rollout4 Coins5 Device Coverage5 Multilingual Support5 UI Preview6 Revenue Model7 Binance Coin (BNB)7 Allocation8 ICO8 ICO Schedule8 BNB Value & Repurchasing Plan9 BNB Vesting Plan for the Team9 Funds Usage10 Team10 Changpeng Zhao - CEO10 Roger Wang - CTO11 James Hofbauer - Chief Architect12 Paul Jankunas - VP of Engineering12 Allan Yan - Product Director13 Sunny Li - Operations Director13 Investors & Advisors14 Risks17 Security is Paramount17 Market Competition17 Intro Inourview,therearefundamentallytwodiffer enttypesofexchanges:theonesthat dealwithfiatcurrency.

2 ,westronglybelievethatpure cryptoexchangeswillbebigger,manytimesbig ger,thanfiatbasedexchangesinthe this new paradigm Binance ; Binary Finance. Withyourhelp, Binancewillbuildaworld-classcryptoexchan ge,poweringthefuture of crypto finance. Problems Some of the current crypto exchanges suffer from a number of problems: Poor technical architecture Manyexchangesare puttogetherquickly ,bygoodtechpeople,butwho mayworkwellinthebeginning,astrafficgrows ,thesystemwillnotableto thegroundupwithsecurity,efficiency,speed , often slows down the initial development, but is critical for long-term success.

3 Ourteamhasdecadesofcombinedexperiencebui ldingandmaintaining these systems are built from the ground up. Insecure platform There are hundreds of exchanges that went down due to being hacked. 1 Binanceisbuilttohighstandards,audited, experiencebuildingfinancialsystemstotheh ighestsecuritystandardsand strive to ensure security first. Poor market liquidity Professionaltradersandnormalusersaresign ificantlyaffectedbythis. Havingashalloworderbookmeanshighslippage whentrading,whichisvery ,institutionalinvestorsandlargetraders intoanewexchangeisachickenandeggproblem, andrequiresateamwith deep industry resources.

4 1 Binance steamhavebeeninboththefinanceandcryptoin dustryformany ,and will be key in bootstrapping the exchange. Poor customer service statusupdatewould hardlybenoticed,butonanexchange,thesamew ouldbeunacceptable, resulting in a torrent of user complaints. Inadditionaltothetechnologystack,Binance isbuiltwithserviceinmind. Binancesharessupportresponsibilitiesacro sstheentirestaffandcompany. Whenatraderhasaproblem,theygetananswerdi rectlyfromsomeonewho knows the system and not someone reading from a script.

5 Poor internationalization and language support or one country. Ourinternationalmulti-lingualteamhasexte nsiveworkingexperiencein NorthAmerica,EuropeandAsia,andweareablet osmoothlysupportthe global market. Binance Exchange Matching Engine Ourmatchingengineiscapableofsustaining1, 400,000orders/second,making ,on ourexchange,thatyourorderswillneverbestu ckduetothematchingenginebeing overwhelmed. Feature Rollout We will roll out the platform in roughly the following order: Spot trading Margin trading Futures Anonymous instant exchange Decentralized (on-chain) exchange and Coins Binance will support trading pairs in the following coins: BTC ETH LTC NEO (ANS) BNB (Binance Coin) strongcredibility,userbase, listed on Binance later, participating in our ICO will help.

6 We have no plans to support any fiat currencies such as USD, RMB, JPY, or KRX. Device Coverage We will provide cross-platform trading clients for: Web-based trading client Android native client iOS native client (pending App Store review) Mobile HTML5 client (including WeChat H5 client) PC (Windows) native client REST API Multilingual Support WewillsupportEnglish,Chinese JapaneseandKoreanonallofouruser interfaces.(Theveryinitialreleasewillbei nEnglishandChineseonly.)More languages will be added over time.

7 UI Preview Professional Web Trading Interface Mobile HTML5 Market Data iOS Trading Page Windows PC Native Client - Multi-Interval View Revenue Model Binance s revenue will come from the following sources: Source Description Exchange Fee variationswillbesubsequentlyintroduced,i ncluding maker-taker,volumedbasedtieringand0feepr omotions. We have no plan to charge above Withdrawal Fee Binance may charge a small fee for withdrawals. Listing Fee Binancewillselectinnovativecoinsandother assetstobe listedontheexchange,theremaybeafeeassoci atedwith those listings.

8 Margin Fee Ifyoutradeonmargin,theremaybeafeeorinter estonthe borrowed amount. Other Fees Theremaybeotherfeestheplatformmaycollect forvarious services such as automated algorithmic order etc. Binance Coin (BNB) Wewillissueourtokencoin, willbecreated, blockchain with ERC 20. Allocation % Amount (BNB) Participant 50% 100,000,000 ICO 40% 80,000,000 Founding Team 10% 20,000,000 Angel investors ICO The ICO will be done in BTC and ETH, on multiple platforms around the world.

9 ICO Schedule All times below are China Standard Time (CST), UTC+8 hours. Date Task 2017/06/14 Confirmed start of the Binance project 2017/06/16 Initial draft white paper completed, circulated to potential angel investors 2017/06/22 Announce Binance ICO plan, and release whitepaper to general public 2017/07/01 ICO starts (platforms will be announced soon) 2017/07/15 release go live, active trading begins 2017/07/21 ICO finishes, or whenever the coins are sold out ICOwillstartfrom3 PMJuly1st,investorscanpurchaseBNBtokensi n3 phasesonafirst-come,first-servedbasisunt il100,000,000tokensaresold.

10 As each new phase starts, the price will increase. InvestorswillreceiveBNBtokenswithin5work ingdaysaftertheICOfinishes. The detailed schedule is as below: ICO Phase 1st week 2nd week 3rd week CST/GMT+8 15:00 July 1th - 15:00 July 7th 15:00 July 7th - 15:00 July 14th 15:00 July 14th - 15:00 July 21th 1 ETH 2700 BNB 2500 BNB 2300 BNB 1 BTC Based on market price BNB Value & Repurchasing Plan You can use BNB to pay for any fees on our platform, including but not limited to: Exchange fees Withdraw fees Listing fees Any other fee When you use BNB to pay for fees, you will receive a significant discount.