Thread by @on_yavin

With the recent announcement by @binance (binance.com/en/support/art…) that it is entering the crypto lending space, offering users up to 15% APR on their crypto by lending it to margin traders looking to leverage their positions - Binance has once again, quietly one-upped themselves

on the silent war they have been raging on @ethereum for the past few months. Binance debuted the margin lending feature with 3 coins in their offering: BNB, USDT and ETC. Many were surprised to hear that alongside the obvious offering of BNB and USDT,

Binance would allow users to receive interest on their idle ETC balances - why allow lending in such an esoteric cryptocurrency, instead of a more established one, like many industry players already do?
The answer is simple, yet hidden:

Binance is in the midst of an all-out war against Ethereum, and have been orchestrating it for the past few months.

By allowing users to lend their ETC - and we have no reason to think Binance has any sentiment towards the ETC ecosystem -

they are directly signaling to the Ethereum community they are willing to list anything but ETH.

Without going too much into details, we'll simply point readers to sources strengthening our thesis, mainly this excellent Medium post by @yanivf (medium.com/@yaniv.feldman…)

and this eye-opening piece by @gregthomson88 (ccn.com/ethereum-kille…). These articles lay out all the moves Binance have been making in their deliberate attempt to dethrone Ethereum.

I believe Binance is on the verge of abusing its unfair advantage, using their centralization as a company and incredible regulatory arbitrage abilities to maneuver faster than the decentralized "enemy" the picked for themselves.

I believe Binance should not attempt to demolish Ethereum but rather strive to flourish alongside it - especially when there is incredible room for growth for each platform on its own merit.

What do you think? Are you in favor of competition at all costs - and may the best project win - or do you believe there are grounds to call "abuse" on Binance's actions?