Major cryptocurrency exchange Binance plans to launch a token airdrop as a part of the company’s acquisition of JEX, a crypto-asset commerce platform.
In a Sept. 5 announcement, Binance once more disclosed the acquisition of JEX, which can now operate under the name Binance JEX as an independent team at intervals the Binance ecosystem. Following the acquisition, Binance is going to convert ERC-20 JEX tokens into native Binance Chain-based BNB (BEP2) ones.
Distribution of 200 million tokens
Binance can then distribute all 200 million unlocked JEX team tokens to all BNB holders on Binance.com. The official announcement reads:
“Starting from 2019/10/06, Binance JEX can conduct a monthly airdrop of JEX tokens to BNB holders resembling 30 minutes of the profit generated by Binance JEX in every individual month. [...] Binance can record all users’ lowest BNB balance on a daily basis between 2019/09/06 0:00 AM (UTC) to 2019/10/06 0:00 AM (UTC) and calculate a complete BNB holding ratio for every user at the tip of the entire holding period.”
Binance launched its mainnet Binance Chain in late April. At the time, Binance said it'd be releasing additional BEP2 coins as more users convert their ERC-20 BNB to its native BEP2 BNB, whereas the proportional amounts of ERC20 BNB are burned while “keeping the total offer across each networks constant.”
According to the exchange’s announcement later in June, BEP2 token are listed on Binance and can even be offered on its redistributed counterpart Binance DEX. This plus is one in every of a series of cryptocurrency-pegged tokens that the corporate intends to launch on Binance Chain.
Futures trading?
In Sep, Binance is going to launch a futures trading platform. Binance chief executive officer, Changpeng Zhao indicated at the time that whereas there's yet no precise launch date for the new “Binance Futures” commerce platform, a simulation check version was expected to launch within a couple of weeks.
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