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Binance’s decentralized exchange [DEX] all set to trade ChangeNOW’s latest token

Exchange

ambcrypto.com 24 April 2019 07:50, UTC
  
Reading time: ~2 m

ChangeNOW is in the news again after it announced its decision to trade NOW token on Binance’s Decentralized Exchange [DEX] blockchain. The planned migration was made public on April 22, 2019, via an official blog post, which was followed by an “It’s official!” tweet from the company, moments later.

The leading instant cryptocurrency exchange platform decided to relist NOW token on the Binance Mainnet, from Ethereum blockchain, following the lead of several other tokens, including Binance’s own BNB. This sudden shift in platforms is speculated to be fueled by the crypto ecosystem’s demand for listing coins onto the new exchange.

The reason behind DEX’s inception was Binance’s efforts to validate and catalyze the influx of decentralized exchanges within the crypto-community. Binance’s CEO, Changpeng Zhao, echoed a similar thought through one of Binance’s blog posts,

“We believe decentralized exchanges bring new hope and new possibilities, offering a trustless and transparent financial system.”

In the article, Zhao also shared his vision to “bring a new level of freedom” to the crypto-community.

At the moment, ChangeNOW plans to move half of the NOW tokens [100 million] to the Binance chain, while still circulating the other half on Ethereum’s blockchain. However, NOW token can only be received by users by participating in ChangeNOW’s airdrop campaign, which is planned to be on private sale for professional investment funds only. While the company claims to allow 1:1 rate swapping through NOW Swaps, the holders will be free to trade them on any exchange of their choice.

NOW tokens will be open for trade once the network’s release date is confirmed by the Binance team. Once Binance Mainnet becomes active, it will not only allow new tokens to gain market share, but will also enable decentralization of other exchanges in the future.


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