Binance Chain Mainnet Has Been Launched
Binance, the largest crypto currency exchange in terms of trading volume, announced the launch of Binance Chain mainnet and revealed the date of BNB swap – April, 23rd.
Nevertheless, the organization representatives highlighted that the timeframes might change depending on the circumstances. The plan is:
• the pre-selected validators will be online to produce blocks with consensus from the genesis block on April, 18th;
• the native coin, Binance Coi, will be created in the genesis block;
• BNB total issue will be 200 million, 11 654 398 coins will be burnt, 48 million coins will be frozen;
• the first 5 millions of BNB will be allocated to Binance.com exchange account, the same amount of Ethereum-based BNB will be burnt;
• block explorer and the web wallet will be open to public access on April, 23rd;
• initial trading pairs won’t be listed until the first batch BNB conversion has occurred.
Binance.com won’t support ERC-20-based BNB withdrawal. The users who want to hold these tokens due to any reasons will have to withdraw them to Ethereum wallets. However, all ERC-20 BNB tokens will finally be converted to BEP2 BNB.
To recap, BNB rate increased sharply after the announcement of mainnet launch. It has increased by almost 10%.