Dialogue with Viane, head of Binance Plaza: The next 1 billion encrypted user portal

Guest: Viane, Binance Plaza Operations Officer

Host: AB Kuai.Dong

When the market was discussing who would be the next social leader, the monthly active users in Binance Plaza had exceeded 35 million, and a large number of emerging bloggers and social players were active in Binance Plaza.

Since this product is built in Binance's main website and integrates chat rooms, orders, transactions and other functions, it allows everyone to easily enter from the Binance homepage, browse posts and participate in discussions.

In mid-24, Binance co-founder @heyibinance often invited everyone to settle in and experience Binance Plaza in various public channels. The market also rumored that this is a project that Heyi attaches great importance to within. More than two years have passed since the launch of this social platform.

In this issue, we conducted an online interview with Viane, the head of Binance Plaza operations, to learn about the unknown stories behind it.

1. Why did you think of Binance Plaza internally?

Viane: The birth of Binance Plaza is actually a big step taken by Binance in the content ecological layout. In addition to the square, Binance also has free content platforms such as academies, news, blogs, research, and live broadcasts, with the purpose of providing users with more valuable information.

The growth of a square can be divided into two stages:

At the beginning, in October 2022, we launched Binance Plaza, mainly as a content aggregation platform, integrating KOLs, project parties and media content to provide users with the latest cryptocurrency updates.

But later I found that simply aggregating content is not enough, and community users want more. Therefore, in 2023, we repositioned the platform and changed it to a social platform that supports user-generated content.

This is actually quite in line with our philosophy of paying attention to the community. In addition to transactions, we hope to give users more value. We want to create an open and transparent discussion space that eliminates the information noise on traditional social media, so that everyone can focus on sharing and exploring cryptocurrency and Web3 knowledge, and enhance interaction and participation.

The square now has more than 35 million monthly active users and 800,000 active authors, covering 26 languages.

2. At the beginning of its establishment, what expectations did No. 1 sister have for you?

Viane: At that time, I hoped to create a community-driven social platform that truly promoted knowledge sharing and exchange in Web3 and cryptocurrency. Not only the boss, but the team also hopes that the square is not only a place for information aggregation, but also a community that allows users to participate deeply, share insights and learn from each other.

In order to achieve this goal, there are some unique mechanisms in the overall product design. For example, users are required to pass KYC to post documents to ensure the authenticity and credibility of the content. The comment function requires users to have positions and encourage those who are truly involved in the market to discuss.

There is also the function of sharing positions to obtain real-time authentication, allowing everyone to see the poster's trading background more intuitively and increase the reference value of the discussion. These settings are all designed to make the square's ecology healthier and transparent, and different from traditional social media.

3. Will there be any calculations and bonuses for subsequent Alpha points?

Viane: There is no specific plan for the linkage between Alpha points and the square. The original intention of the design of Alpha points is to keep it as simple as possible, mainly based on the user's asset holding and transaction activity in Binance Alpha and wallet ecosystems.

The internal hope is to avoid making the Alpha points system too complicated, so the behavior of the square is not included in the point bonus plan for the time being.

4. How much will the creation mining and content subsidy rewards be allocated every year?

Viane: There is currently no fixed upper limit on the budget for creative mining and content subsidies. First of all, the rewards for content mining depend entirely on the performance of the creator's content. For example, @yixing_web3 made 2689U of profits directly based on a 66-word post, which shows that it has great potential.

As for how much is allocated every year, this is not easy to quantify because it is directly linked to the quality of content, interaction volume and market conditions.

In addition, essay contests are usually sponsored by the project party and organized by Binance Plaza. The rewards are directly distributed to the creators, and the square does not receive a penny.

So the budget for this part actually depends on the investment scale of the project party. If you want to cooperate with, please come to us for a chat and submit an essay!

5. How do you view many readers on media platforms and go to see the square?

Viane: To be honest, we are really happy to see more and more people pay attention to and use Binance Plaza. This shows that everyone recognizes the direction of our efforts. But after all, when users choose a content platform, the most important thing is content quality and community atmosphere.

There are still many places in the square that can do better, such as ensuring the authenticity and diversity of content and creating an open and active communication environment. We hope to create a more solid content ecology in the future, with a lively community atmosphere, attracting more people to join, and making everyone willing to stay forever.

6. The first sister said before that Binance does not look at education, but what is the current situation of the team?

Viane: I am not from a prestigious school, and I will not deliberately count everyone’s academic backgrounds. But as far as I know, there are still some friends around me who have good academic qualifications and experience, and the abilities of the students in the team are relatively diverse.

When recruiting people, the focus is on how deep the candidates understand the industry, whether they really understand encryption, whether they can be close to the community, and understand user needs and community dynamics.

7. What do the team think? My peers are also working in social and information sectors?

Viane: Now the social and information sectors are becoming more and more important in the industry, which we deeply feel deeply. Users now especially want short, fast and accurate content that can quickly feel the key points.

The popularity of projects like InfoFi and DeSoc actually shows that the value of information aggregation and community interaction is being recognized by the entire market. Not to mention the impact of information on the market. A reliable news, or a heated discussion in the community, can often directly ignite market sentiment, push up or lower prices. This amplification effect of community sentiment makes the role of high-quality content platforms crucial.

The rise of AI has also brought great changes to this field. In the past, users had to spend a lot of time filtering information by themselves. Now AI can quickly integrate massive data and even analyze the trends of community sentiment, helping users grasp the key more efficiently and filter out useless noises.

Binance Plaza’s strategy is very clear: always put content quality first, ensure the credibility and diversity of information, and keep in line with market trends. Plaza not only wants to keep up with the pace of the industry, but hopes to create a high-standard content ecosystem to help users make decisions more rationally in an emotionally driven market and truly create value for the community and the market.

8. Will Binance Plaza also be commercialized in the future?

Viane: Binance Plaza is still a very young content platform. Our focus now is to improve user experience, create high-quality content, and build user trust.

For example, the content is richer and more diverse, reducing unreliable false information, and resolutely blocking fraudulent content. In addition, we are also focusing on creators' monetization, hoping to motivate high-quality creators to continuously produce good content through profits, making the entire ecosystem healthier.

The square has not yet considered commercialization, so it is most important to make the content and user experience well first.

9. The recent popularity of abstract and pornographic tutors, what do you think about this?

Viane: This phenomenon actually reflects the community's love for fresh, viral content, but for Binance Plaza, whether these content is based on correct values ​​is worth discussing.

We hope that the platform can adhere to its values ​​while encouraging creators to produce more high-quality artistic content or related discussions to enrich the platform's content ecosystem.

10. So how do you filter these sensitive posts?

Viane: The review process of the square is a combination of AI and humans. AI first screens out potential violations, such as fraudulent information, plagiarism or indecent language, and then the team reviews according to the community management code.

If the post is deleted or the account is restricted, we will notify the user through the site message to explain the reasons, such as "violating anti-fraud terms". However, we also have a complaint channel. If users believe that the removal notice is not specific enough or have questions, they can appeal through customer service channels.

Audit transparency is crucial to community trust, especially when encrypted market information is changing rapidly, and we hope to bring timely and high-quality content to users of Binance Plaza. Of course, users’ dissatisfaction with post deletion or account restrictions are indeed issues we need to solve, especially sometimes strict reviews may accidentally hurt the creator’s experience. In the future, we hope to better find a balance between the user experience of readers and creators.

The square attaches great importance to community feedback and has accelerated the processing of reports. It will downgrade the low-quality content or authors that have been reported many times, and encourages everyone to help us maintain the quality of the community.

11. Now everyone is strongly supporting the wallet. What is the progress of the square?

Viane: The square will be connected to the Alpha coin tag, and the relevant coin price pages will also be embedded in the square to facilitate users to view dynamics and discussions in real time. At the same time, we will also support these projects to enter the square, open their own project party accounts, launch airdrop activities, and enhance project exposure and community interaction.

In essence, square and wallet belong to two different tracks. In the future, we will combine more about the transaction community with wallets, hoping to bring users more joint mechanisms and wealth passwords with wallets.

12. Recently, on-chain analysis tools are being made on the market. What are your plans?

Viane: Currently, Binance Plaza’s on-chain transaction analysis tool is under active preparation. In the future, the square will integrate project event calendar and on-chain data. Users can view wallet movements, giant whale dynamics, project financial reports and transaction popularity. These information and data are presented in simple and intuitive charts, allowing users to gain insights more intuitively and easily.

13. In addition to internal user conversion, what strategies does the square have to become famous?

Viane: Basically built around improving product functions and optimizing trading community, such as:

• Utilize AI-driven content recommendations and trend analysis, including news summary and community sentiment analysis, to help users efficiently obtain high-value information and attract a wider audience.
• Emphasize the authenticity of transactions, and improve content credibility and community discussion quality through order posting, position sharing, Terminal trading PK and project financial report access.
• Through interactive content such as transaction live broadcast, group chat, order-study mechanism, AMA, streaming live broadcast and other interactive content, users' sense of participation and community vitality are enhanced.

14. What other plans are there in Binance Plaza next?

Viane: Improve community interaction and authenticity. For example, at the product level, social trading is promoted, so that users can more conveniently display transactions and share strategies in the square, including optimizing the order-sending function, allowing users to display investment portfolios, profit and loss situations in one click, or participate in trading PK, enhance the realism and participation of the community, and make the trading process more playful.

At the community level, reward centers suitable for retail investors and KOLs can unlock rewards through tasks. The square will continue to deepen its creator economy and improve monetization tools. Content mining upgrades 2.0, cooperate with more high-quality authors and project parties to add columns and project research and report sections.

15. Is the team still recruiting people?

Viane: Yes, those who love the community and are willing to participate in construction on the front line are welcome to join. If you are interested, please send me a private message, or Brother Ying, or submit it on the Binance recruitment page.