Binance DEX Now Live On Binance Chain

by George Naylor
Binance DEX now live on Binance Chain

Exciting news for Binance and BNB aficionados – a leading cryptocurrency exchange, and blockchain ecosystem, today celebrated the launch of Binance DEX, the company’s decentralized exchange running on its native Binance Chain. The Binance DEX development team is inviting projects to participate and issue new tokens on the new blockchain.

Binance DEX Mainnet Swap

Binance Chain announced the launch of its mainnet and genesis block on April 17th, and executed the Mainnet swap on April 23rd. All pre-selected validators produced blocks with consensus derived from the genesis block on April 18th.

“We believe decentralized exchanges bring new hope and new possibilities, offering a trustless and transparent financial system,” said CZ, CEO of Binance.

“With no central custody of funds, Binance DEX offers far more control over your own assets. We hope this brings a new level of freedom to our community. We will work closely with projects and teams to grow the entire ecosystem.”

With the Binance Chain mainnet launch, Binance Coin has migrated from ERC-20 to BEP-2 to become the native asset on Binance Chain, where BNB is used to assist network transactions.

Great News for BNB Token Holders

Following tweets from Binance Chain and CZ, the speculative price of BNB has increased dramatically; nearing the tokens historic all-time high. Traders and hodlers alike have created a staggering 9000% return on investment since ICO, as well as a 450%+ price increase since December 2018. As native exchange tokens struggle to gain traction (and value) Binance and BNB seem to be writing their own affluent narrative.

Whether the BNB token can continue its stratospheric appreciation will very much depend on the genuine uptake of Binance’s DEX. Criticisms of centralization and price manipulation have done little to deter investors so far. Could BNB experience the same parabolic catalyst as Ethereum in 2017? A successful DEX launch and a queue of product listings will certainly help BNB achieve the necessary critical trajectory. 2019 seems to be shaping up to be the year of Binance.

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