Mithril, a decentralized social media platform yesterday became the first project to migrate to the newly launched Binance Chain. This is according to an announcement that was made yesterday through a blog post on their official medium account.
The platform expressed excitement for being the first to migrate to the blockchain software system that has been developed by the leading cryptocurrency exchange. The move will allow MITH token holders to experience the speed, user-friendliness, and security of the new Binance DEX platform while at the same time maintaining full control over their own funds.
The migration of MITH from Ethereum’s ERC20 platform to BEP2 took place shortly after the Binance Chain mainnet was launched yesterday. Mithril said that they had monitored the progress of various blockchain platforms on their evolution towards increasing scalability, security, and ease of use.
Choosing Binance Chain was an easy decision yet crucial strategic initiative for the company since the platform is focused on usability, security and incredible speed of one second block times.
Now Binance users will be able to withdraw MITH to BEP2 wallets like Ledger Nano S, and they can start trading on Binance DEX. However, ERC20 versions of MITH that are held in private ETH wallets or other exchanges will not be affected.
Mithril noted that:
“We are honored to join Binance in growing the ecosystem and supporting the launch of the first DEX that will offer users the benefit of self-custodied funds and the wide liquidity pool of the Binance community. We are grateful for the long-standing partnership with Binance, and look forward to continued growth and success together.”
After launching the Binance Chain yesterday, the top cryptocurrency exchange expects to execute a swap of its native BNB token on April 23. Last December Binance revealed plans to launch its own blockchain with the intention to build a basis for issuing new crypto coins and ICOs.
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