Binance Asked For The Details of Blocknet DEX

Blocknet is built to connect blockchain chain communities via a decentralized platform. Recently, it had to disclose the questionnaire it was forced to fill when it applied for a position on the listing of Binance. It has accused Binance of stealing crucial information related to the DEX progress. This news about Biannce has come within just two days of Binance DEX’s launching.

Blocknet is a second layer interoperability program or set of commands which is built to allow transparent communication or interaction, and exchange of data among different blockchains. Blocknet has revealed the rare process these blockchains had to undertake to get listed on Binance exchange.

It all started when Blocknet tried to list its product including DEX which is called as BlockDX on Binance in August 2018. Binance made Blocknet fill a form and mention all the details which were having questions about company and project details, its target industry. However, these are the typical questions all crypto exchanges ask it’s applicants to fill.

But the procedure went out of track when Binance’s head of business sent an email to the Blocknet with follow up questions in it. Block net team replied to these questions immediately. Block net did not hear anything from Binance for a month to come. Hence, Blocknet tried to connect with Binance through email asking them the progress of their application for listing. Blocknet received no reply from Binance.

The indifference shown by Binance created curiosity among the team members of Blocknet and they started evaluating the second part of the questions separately shared through the email.

The questionnaire mentioned had a few basic and typical questions, such as the questions about the recent update introduced in the project, the success achieved since the initial coin offering undertaken by the company, competitors analysis done by Blocknet, and it social media initiatives.

All these questions were general and in line with the procedure of listing. However, things went off track when Binance enquired about its offerings. The questionnaire asked “Why do you choose to build your own DEX instead of leveraging those existing ones on the market?

Moving to the next question, the doubt became even denser when it became apparent that the questionnaire was asking something more than just for exchange listing purposes.

Binance kept on asking more questions,  a bit the company and digging deep in the company’s profile. All these questions were signaling something else. It was apparent that the exchange was not just interested in knowing relevant answers, it wanted to know something more.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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