“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.” ĬZ believed that this would start a new era for financial systems and he also asked the community to come forward and give input for the same. This is what he stated: The users also gained access to the Binance Chain Explorer, web wallet, public data nodes, and APIs, but actual trading began later. The users were allowed to create wallets using Binance's official Trust Wallet and also third-party wallets like Enjin Crypto Wallet, Magnum Wallet, Coinomi Wallet, Atomic Wallet, ZelCore Wallet, Infinito Wallet, Math Wallet, Ellipal Wallet, Guarda Wallet, Exodus Wallet, and also hardware wallets, Ledger and CoolWallet.
The mainnet was released along with the launching of BNB Chain and so Binance Coin (BNB) migrated from ERC20 standards to BEP-2 to become the native asset on BNB Chain, and also Binance DEX, where it is used as a base token to assist network transactions. "Binance DEX is a decentralized exchange with a decentralized network of nodes, where you hold your own private keys and manage your own wallet,” said Changpeng Zhao (CZ), CEO of Binance. “With Binance DEX, we provide a different balance of security, freedom and ease-of-use, where you take more responsibility and are in more control of your assets." Īfter two months of testnet, a period involving nearly 8.5 million transactions across a simulated trading competition, coding competition, bug bounty program, and new updates and enhancements, the first version of mainnet was released on April 23, 2019. The testnet was launched on February 24, 2019, and this is what founder Changpeng Zhao said at the time of launch: Overviewīinance DEX is a decentralized exchange and an extension of the largest cryptocurrency exchange by daily volume, Binance. The matching happens within the blockchain nodes and all of the transactions are recorded on-chain, therefore forming a complete, auditable ledger of activity. Binance DEX (launched in 2019) is a decentralized exchange (DEX) built on BNB Chain that allows exchanging digital assets issued and listed on it.
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