Binance DEX (Decentralized Exchange) launches on its native blockchain, Binance Chain, to empower community growth and foster the industry’s long-term vision of peer-to-peer trading.
Binance, the leading global cryptocurrency exchange and ecosystem, joins the community in celebrating the launch of Binance DEX, a decentralized exchange running on the Binance Chain.
As part of Binance’s effort to push the industry forward, the Binance DEX development team invites projects to participate in and issue new tokens on the native blockchain.
Look at the Problem the Coin Purports to Solve
“We believe decentralized exchanges bring new hope and new possibilities, offering a trustless and transparent financial system,” said CZ (Changpeng Zhao), 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 (BNB), the seventh largest cryptocurrency by market cap to date, has migrated from ERC-20 to BEP-2 to become the native asset on Binance Chain, where BNB is used to assist network transactions. Wallets initially supported on Binance Chain include Trust Wallet, Ledger, Enjin, Magnum Wallet, CoolWallet, Coinomi Wallet, Atomic Wallet, ZelCore Wallet, Infinito Wallet, Math Wallet, Ellipal Wallet, Guarda Wallet and Exodus.
Users now have access to the Binance Chain Explorer, web wallet, public data nodes and APIs, and trading will begin at a later date.
The launch of Binance DEX follows a two-month testnet period, during which nearly 8.5 million transactions were made across a simulated trading competition, coding competition and bug bounty program, with several new updates and enhancements implemented.
As a testament to the community-led nature of Binance DEX, many of the new features and open-source tools that have emerged on the mainnet are contributions made by the Binance community.
To access Binance DEX, visit https://www.binance.org/.
For more information on the launch and development of Binance DEX, including the upcoming launch of certain functions, join the Binance Chain Community Forum at https://community.binance.org/.
What is a Crypto Market Cap?
Learn more about how to use Binance DEX with Binance Academy: https://www.binance.vision/playlists/how-to-use-the-binance-dex.
About Binance Chain
Binance Chain is a blockchain software system initially developed by Binance and the community. Binance Chain is a community-driven development project with many developers and contributors from all over the world. Binance DEX is the decentralized exchange feature developed on top of the Binance Chain blockchain.