Qlink, a decentralized mobile network announced today they will be working with Binance, a top cryptocurrency exchange, to incorporate BNB into the Qlink dApp.
BNB, issued by Binance is a means of payment in the exchange platform and is currently among top 20 cryptocurrencies in market capitalization.
Back in January, Qlink debuted the first dApp featuring mobile network sharing such as WiFi and Wallet functionalities on Github. The dApp has gone through 11th upgrades and will be available on Google Play starting this month. The Qlink team will support the BNB utility token in Qlink dApp.
The Qlink team will be embracing BNB into its ecosystem in a variety of ways. First of all, Qlink’s in-app wallet will support BNB and allow users to hold BNB.
Secondly, Qlink is to add the trading pair of BNB/QLC so that users can directly purchase QLC using BNB. Trading price provided by Binance platform will be used as reference price of token conversion initiated on Qlink dApp.
Thirdly, The dApp will also support BNB as a game token for WiFi ownership cybersquatting within the dApp, which allows users to purchase the ownership of a registered WiFi or VPN asset at a higher value in either QLC or BNB.
“We are very excited about the partnership. Joining hands with Binance, we will provide cryptocurrency holders and traders the most secure and convenient network usage experience. There are increasingly more use case scenarios to be added on the dApp to enrich the industry.”
The two teams agreed to explore collaborations in other real use cases depending on dApp’s technical development. For example, Qlink dApp is to support BNB to top-up pre-paid mobile service. Also, a potential cross-chain solution between Binance Chain and QLC Chain is under discussion.
This partnership between Binance and Qlink helps BNB to circulate as a dApp utility token and adds new use cases to the BNB ecosystem. The partnership could increase BNB adoption as the user base of Qlink grows. The close collaboration sets an example for the industry for strengthening both parties.
Qlink is aiming to build the best decentralized protocol for mobile network service, upon a public chain dedicated for network transmission, which will be completed by the end of 2018. Its first dApp supports users to register mobile network on blockchain as a digital asset, to share the usage with other users in a secure way, and to be rewarded by sharing. In other words, by adopting blockchain technology, Qlink dApp enables individuals and small businesses to provide WiFi access services.
“Qlink has a strong developer team and solid applications. The use case of secure network sharing has visible demand in the market, especially for users who pay more attention to information security and recognize the value of decentralization technology. Qlink is an ideal partner to further proliferate BNB utilization.”