Photo: / Twitter
This day that was so much anticipated by the community has come. The 23rd of April is finally here which means that are migrating to the Chain.
According to the recently revealed information, has initiated swap and burns. It has been disclosed by Changpeng Zhao (better known as CZ), the CEO of , who told his Twitter followers that they had just burned 5mm ERC20 BNB.
Just burned 5mm ERC20 BNB, commencing swap to the real .
— CZ (@cz_binance)
Moreover, the exchange has already that the Coin (BNB) mainnet swap has been completed and now deposits and withdrawals are open.
At the moment the price is just a little bit lower than its all-time high, as BNB is currently traded for $24.70. And at the moment of the burn, 5 million of the burned amount to around $119,393, 822 which is quite an impressive sum.
Migration to the Binance Chain
Let us remind you that initially, issued its on ’s network where they remained until this very day. Nevertheless, when the exchange its own it became obvious (and announced) that the tokes will be transferred to the newly created network.
Such a desire to keep in their own is quite natural. A number of other cryptos (and are among them) have their own networks as well. As for , they have designed a plan of a 2-step migration. While they have decided to burn ERC-20 BNB, they are planning to launch just the same amount of of the new version on the Cain.
Without any doubts, the launch of its own was rather a long way for . The team has started its work on the network quite long ago and it is still continuing its work. The TestNet this year in February.
Two months have passed and the MainNet has been launched which is a real milestone not only for , that is currently the largest exchange in the world, but for the whole crypto community.
Way of Binance
Though the introduction of its own was a very important step for the exchange, it doesn’t mean that it has been the only focus for over the last months.
The team staying behind is doing its best to hold a finger on the pulse of the industry in order not to miss the recent tendencies and not to lose its positions on the world’s arena.
The launching platform that follows the new model known as is gaining its popularity in the context of recent changes in the industry. is also actively expanding its offerings fiat-to-crypto exchanges for different markets.
Published at Tue, 23 Apr 2019 09:42:55 +0000
