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Today, Binance has completed the ERC20 integration of WAX (WAXP) and the integration of BUSD on the Avalanche and Polygon networks. Binance announced these two integrations on its official website and Twitter handle. https://twitter.com/binance/status/1571712530766270464?s=20&t=gGWHNmzO7zQZfPd1GORPbA
ERC20 Integration of WAX (WAXP)
Today, Binance has completed the ERC20 integration of WAX (WAXP). The Ethereum Network has now opened up deposits and withdrawals for WAX (WAXP). The ERC-20 establishes a protocol for fungible tokens, which means that each token is precisely the same (in terms of type and value) as every other token. In 2015, smart contracts gained popularity, but several problems needed to be solved. Anyone could manufacture a token, so a lot was being produced.
Integration of BUSD
Today, Binance announced that it had completed the integration of Binance USD (BUSD) on the Avalanche and Polygon networks. Both networks now accept BUSD deposits and withdrawals. Users can transfer BUSD between the Ethereum, BNB Chain, Avalanche, and Polygon networks. ERC-20 is a standard used by several popular digital currencies. Some of them are: Tether USD (USDT), USD Coin (USDC), Shiba Inu (SHIB), Binance USD (BUSD), BNB (BNB), DAI Stablecoin (DAI), HEX (HEX), Bitfinex LEO (LEO), MAKER (MKR) The ERC-20 standard plays a significant role in the blockchain because it establishes rules for Ethereum tokens that use smart contracts. These regulations include the transfer of tokens, approval of transactions, how users can access information about a token, and the overall number of tokens available.
Binance Launched BAB Token
Last week, The Binance Account Bound (BAB) token, a soul-bound token intended to identify Binance users who have completed KYC verification, was introduced to Binance. Users may produce BAB tokens on the BNB Chain to serve as identification credentials, take part in the creation of several projects, and earn prizes. The issues associated with preventing bots from getting airdrops can be addressed with the help of the BAB currencies.