Cryptocurrency exchange operator ChangeNOW announced that its native token, with the ticker NOW, was listed on BinanceDEX, the newly-launched decentralized exchange developed by China-based Binance. Several days earlier, ChangeNOW announced that its token had become the first digital asset besides BNB token to be issued on Binance Chain. For those unfamiliar, the latter is Binance’s native public blockchain network that will host various crypto projects similarly to Ethereum. The first use case of Binance Chain, whose mainnet version was launched on April 18, 2019, is BinanceDEX.
In order to become eligible for the listing on BinanceDEX, ChangeNOW migrated half of its total supply of 200 million tokens on Binance Chain. The other half remained on Ethereum. Thus, holders are not required to move to Binance and have the freedom to choose which blockchain infrastructure best suits their needs. The migrated NOW token became the second digital asset to be listed on Binance’s decentralized exchange. As of Today, May 2, 2019, NOW is traded against BNB at a rate of 0.00156.
On a side note, Binance is also moving its BNB tokens to its proprietary blockchain network. Thus, BNB won’t rely on Ethereum’s ERC-20 standard anymore but on Binance Chain’s BEP2. For a short period, ChangeNOW provides its NOW Swaps service free of charge to help users migrate NOW and ERC-20-based BNB tokens to BEP2 at a 1:1 ratio.
Interestingly, Binance founder and CEO Changpeng Zhao stressed that ChangeNOW issued its BEP2 tokens without signing a deal with Binance, in line with how the decentralized way should look like. He tweeted:
“ChangeNow did issue their tokens before MITH, without any communication or coordinate with me or our team. The true decentralized way. MITH token was issued later, but listed first on @binance_dex.”
Before getting listed on BinanceDEX, the NOW token went through a selection period in which the Binance community gave its vote. The overwhelming majority of the voters were in favor of the proposal to list NOW on BinanceDEX. Zhao himself openly expressed his support for the proposal, despite the fact that ChangeNOW might be regarded as a direct competitor to Binance. He tweeted:
“it’s a peer and a competitor, but I personally vote for their listing on @Binance_DEX.”
What is ChangeNOW?
ChangeNOW is a non-custodial crypto exchange platform, suggesting that it doesn’t hold your crypto funds. The service is safe, intuitive, and convenient, which is why its community is growing at a fast pace. Since the platform doesn’t store crypto funds, ChangeNOW doesn’t require users to create an account.
As of today, the platform lists pairs based on over 170 cryptocurrencies, having no caps or trading limits. Besides, users can apply the fiat option, which allows them to buy crypto coins with MasterCard or VISA thanks to a partnership with Indacoin.
ChangeNOW has reached partnership agreements with several well-known digital wallet providers, including Ledger, Exodus, Trezor, ClassicEtherWallet, Atomic, Edge, and Guarda among others.
NOW Token Listed on IDEX
Besides securing a place in Binance’s recently-launched exchange, ChangeNOW just announced that its token was listed on IDEX, one of the most popular decentralized platform for ERC-20 tokens.
Thus, the 100 million NOW tokens that remained on Ethereum can be traded on IDEX, while the other half can be traded on BinanceDEX as explained above. According to ChangeNOW, this demonstrates that the platform is centered around its users, enabling them to choose from multiple options.
Earlier, ChangeNOW announced the launch of NOWPayments, the proprietary payment solution that allows merchants to easily integrate the API and benefit from a stablecoin-oriented system. The company hopes to see its payment service get a boost soon.
Passionate about Blockchain and has been researching and writing about the Blockchain technology for over a year now. Also holds expertise in digital marketing. follow me on twitter at @sagar2803 or reach out to him at sagar[at]coingape.com
