Binance highly anticipated decentralized exchange Binance DEX is now live. This launch is coming ahead of the date originally broadcasted.
Users Can Now Be Create Wallet on Binance DEX
The exchange made this know in a recent announcement. According to the announcement, users can now create a wallet on the platform, however trading is expected to commence “at a later date, ”.
The trading is expected to commence once the tokens are issued and listed on the Binance DEX are completed as well as trading pairs.
This was confirmed by one of the company’s spokespeople who said that “as soon as tokens are issued and listed on Binance DEX, and trading pairs are created. We’re expecting this to happen soon, in the next few days.”
Furthermore, Binance CEO Changpeng Zhao made some comments which read:
“We believe decentralized exchanges bring new hope and new possibilities, offering a trustless and transparent financial system. … With no central custody of funds, Binance DEX offers far more control over your own assets.”
Binance Chain Launched Last Week
Just last week Binance announced the launch of its native blockchain, the Binance Chain. Its exchange token— BNB, has since been moved to the new blockchain. BNB which was previously an ethereum ERC-20 standard token is now being replaced with “BEP2” on Binance Chain.
Those with the old BNB token now have the luxury of exchanging them for the new one on Binance.com.
At the moment, the Binance Chain is said to supports many wallets. This includes Binance’s official Trust Wallet, as well as offerings from Coinomi, Ledger, Enjin, Exodus and more. Since launching some crypto projects have moved their project to the chain and also issued new tokens on the on Binance Chain.
According to a previous report, the DEX is not so different in feature from the main centralised exchange found at Binance.com, save some additional features which include the option to generate a 24-word mnemonic seed phrase to secure users’ private keys.
The platform which underwent a two-month testing period witnessed nearly 8.5 million transactions been made across various competitions and programs.