Binance can entice projects from the Ethereum network to its own blockchain, speculating on the listing issue
In less than two years, the Binance cryptocurrency exchange came out on top in terms of trading volume, demonstrating one of the most impressive financial indicators among industry players. Now the platform has launched its own blockchain Binance Chain and intends to lure projects from the Ethereum ecosystem, using the listing question as a carrot and stick, reports The Block.
Binance is one of the main suppliers of liquidity in the cryptocurrency market, and is also popular with traders around the world. Thus, many projects aim to achieve a listing of their token on the site. It is noteworthy that the commission for listing Binance sends to charity through its own fund Binance Charity.
According to The Block, one of the projects received an offer from representatives of the exchange, in which the latter promised favorable terms of cooperation in the event of migration to the Binance Chain network. The source of the publication stressed that projects may receive substantial privileges for transferring a certain percentage of their chain to the blockchain, and in case of refusal they may face delisting if daily volumes fall below $ 1 million.