Cryptocurrency

Binance launches its mainnet, and announces the swap token BNB

A few minutes ago the well-known exchange Binance has announced on the twitter channel the official debut of its mainnet. Not only that, with the launch of the Binance Chain, will also swap-token BNB, that will pass, therefore, from the blockchain of Ethereum to the owner of Binance.

The most recent statement issued on the Twitter highlights, full-bodied details, including the date of the swap token BNB.

According to the official press release, available HERE, the swap-token BNB on Binance Chain will take place on the 23rd April, between five days. Let’s see together more details!

Binance launches its mainnet, and announces the swap token BNB

As shown, the dates given are only estimates-optimistic, so you may experience some delays. The procedure of swap-token BNB consists of the following steps:

  • Starting from today, Thursday 18 April 2019, all of the validators have been pre-selected will begin to generate the blocks of Binance Chain starting from the Genesis Block;
  • In the block of genesis has been coined the money native, or Binance Coin (BNB);
  • The coin Binance Chain BNB (BEP2) will be managed in this way:
    • The supply will be equal to 200 million of the BNB;
    • As happened to the token ERC20, also on Binance Chain will be destroyed 11.654.398 token from the supply total;
    • 48 million of BNB, will be frozen;
    • The first 5 million of BNB will be allocated to an address belonging to the exchange Binance to convert the token BNB ERC-20 of the fees the owners, who will be burned in favor of the token based on the standard BEP2 of Binance Chain.
  • The Binance Chain Explorer and Web Wallet will be initially available to selected partners and are open to the public from 23 April 2019;
  • There will be no new listing until the first conversion of the token BNB.

As explained in the press release, Binance assist users in swap-token BNB on their mainnet is starting from the coming April 23, 2019. From that day, in fact, if all goes as planned, users will be able to withdraw the token BNB-based Binance Chain. Those who want to keep their token BNB based on the standard ERC-20, you are invited to pick them up before April 23.

Of course, Binance will continue to support the deposit of a token based on the standard ERC-20. However, users are strongly encouraged to perform the swap (and therefore deposit with the BNB ERC-20 on Binance) within 90 days.

Enjin and Ledger ready for Binance Chain

In conjunction with the announcement of the Binance, some of the reality of the sector, crypto have undergone the official support on the mainnet of Binance and token BNB BEP2. Among them, we point out Ledger, which has been released to support the Binance Chain in a beta version for the Ledger Nano’s. You can find HERE the official press release.

It also follows the release of Enjin, which he declared to be already at work to support Binance Chain. Who will be the next? We’ll find out soon!

About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.