Binance, a leading cryptocurrency exchange, and blockchain ecosystem, today celebrated the launch of Binance DEX, the company’s decentralized exchange running on its native Binance Chain. The Binance DEX development team is calling on and inviting projects to participate in and issue new tokens on the native blockchain.
“We believe decentralized exchanges bring new hope and new possibilities, offering a trustless and transparent financial system,” said CZ (Changpeng Zhao), CEO of Binance. “With no central custody of funds, Binance DEX offers far more control over your own assets. We hope this brings a new level of freedom to our community. We will work closely with projects and teams to grow the entire ecosystem.”
With the Binance Chain mainnet launch, Binance Coin (BNB), the seventh largest cryptocurrency by market cap to date, has migrated from ERC-20 to BEP-2 to become the native asset on Binance Chain, where BNB is used to assist network transactions.
Wallets initially supported on Binance Chain include Trust Wallet, Ledger, Enjin, Magnum Wallet, CoolWallet, Coinomi Wallet, Atomic Wallet, ZelCore Wallet, Infinito Wallet, Math Wallet, Ellipal Wallet, Guarda Wallet, and Exodus. Users now have access to the Binance Chain Explorer, web wallet, public data nodes, and APIs, and trading will begin at a later date.
The launch of Binance DEX follows a two-month testnet period, during which nearly 8.5 million transactions were made across a simulated trading competition, coding competition and bug bounty program, with several new updates and enhancements implemented. As a testament to the community-led nature of Binance DEX, many of the new features and open-source tools that have emerged on the mainnet are contributions made by the Binance community.