A New Chapter for Binance, as Exchange Launches DEX
Binance has launched its decentralized exchange (DEX) called Binance Chain. The world’s leading crypto exchange confirmed the launch of its mainnet on multiple media channels, including its official blog and on Twitter.
The “new chapter” as dubbed by CEO of the exchange, Changpeng Zhao (CZ), will see existing BNB coins which are ERC20 tokens swapped to Binance Chain BNB (BEP2 BNB) by April 23.
All indicators reveal that the DEX is up and running. CZ was given the honor of performing the first transaction on Binance Chain. The DEX is currently supported by 9 wallets including Trust Wallet, Ledger, Enjin and Coinomi.
Ceteris paribus, the team will help members of its community through the swap which is expected to begin on April 23. Users will be able to initiate withdrawal requests to their new wallets on Binance Chain. This process will be the mechanism for the swap.
While the exchange has stated that ERC20 BNB tokens will still be supported for the “foreseeable future”, members of the network have been advised to swap their digital assets.
The launch of Binance Chain has not gone unnoticed by members of the crypto community. Binance coin has gained over 11% in the last 24 hours.
Binance is famous for supporting a plethora of cryptocurrencies including several masternode coins. The exchange has over 450 markets.