Convert btc to dogecoin binance1/22/2024 The main benefit of offering crypto-pegged tokens is that, obviously, this makes available to Binance DEX traders the many coins that have their own blockchains and aren’t native on BNB Chain. The sum of the buy order and the funds on the published reserve address will be bigger than the total supply of the pegged token, ensuring there is always 100% backing. If this buy order is filled, a new order will be placed while an equal amount of funds will be deposited from the reserve address into. This provides an easy way for anyone to convert from the pegged token back into the native coin on. Large buy orders will be maintained on the trading pair on, with a price spread of around 0.1%. The blockchain offers a much easier way to audit a crypto reserve than a traditional bank balance tether.Ī trading pair will be created on between the pegged token and the native coin, e.g., BTCB/BTC. The reserve addresses are published for anyone to audit. Pegged tokens such as BTCB, are 100% backed by the native coin in reserve, which is Bitcoin (BTC) in BTCB’s case. ![]() This will start with a Bitcoin-pegged token that will be traded on Binance and proposed for trading on Binance DEX.īinance will issue a number of crypto-pegged tokens on BNB Chain (BEP2 token format) in the coming days, starting with BTCB, a BEP2 token pegged to Bitcoin. ![]() We are launching tokens on BNB Chain that will be pegged to leading cryptocurrencies.
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