The cryptocurrency exchange Bitrue announced that it has moved its local token to the blockchain established by another exchange, Binance. Bitrue Coin (BTR) will take its place in Binance Smart Chain (BSC) for the first time, with a low-cost environment and greater scalability than Ethereum, which has a number of projects that are both decentralized and decentralized.
Bitrue is coming to the BSC
Crypto projects announcing their transition to Binance Smart Chain have become a commonplace event, but the addition of a central exchange to this ecosystem is a remarkable development. Bitrue’s decision is quite logical given the momentum BSC is currently holding in its favor, with Ethereum’s rising fees.
Bitrue Coin was released as an ERC20, but will now be printed as BEP20 and will allow Binance Smart Chain users to access Bitrue’s native presence. BSC will increase liquidity and transaction volume as it supports fast and ultra cheap transactions. A BTR pool will be added to Pancake Swap, the leading BSC DEX where Bitrue Coin can be exchanged for assets such as BNB, ETH and DOT.
Pancake says hello to DEX CEX token
Integration with Binance Smart Chain and printing BTR as BEP20 will take about two weeks, according to Bitrue estimates, after which the token will become tradable in the Pancake Swap. The rise of Pancake, which has become one of the largest DEXs in the world in terms of volume, literally reflects the rise of the Binance Smart Chain. When liquidity mining and farming began at BSC last September, Pancake was not even the first DEX to be hit by BurgerSwap.
However, in the last six months, Pancake Swap has grown rapidly; new pools, stocks, lottery and Binance have become the Uniswap of the Smart Chain. Today, it has an average daily volume of $ 650 million. Coincidentally, this is roughly the same volume Bitrue pulls every day.
There are a number of use cases of BTR token in the Bitrue ecosystem. These are uses such as staking, the right to BTR holders to earn additional returns from staked assets such as ADA and ETH. For example, locking XRP and BTR for 30 days provides the stakeholder with a 6.1% return on XRP and 7.3% on BTR. Other use cases for BTR include a reduction in trading fees, voting for cryptocurrencies to be listed on the exchange, and a lending program.
BTR will join a number of other tokens on Binance Smart Chain, originally published on Ethereum. BSC’s compatibility with EVM makes it easy for developers to move their projects and tokens to the Binance Smart Chain. The transition is also very easy for Ethereum users who can access the BSC ecosystem through their MetaMask wallets. Meanwhile, services like Binance Bridge allow assets to be moved between ETH and BSC.