Binance, the biggest cryptocurrency exchange intends to initiate a token airdrop as a part of the organization’s acquirement of JEX, a crypto-resource exchanging platform. Besides, Binance, the most significant cryptocurrency trade by volume, reported an extensive airdrop program as a part of acquiring the futures trading platform JEX, which would be rebranded as Binance JEX under the Binance Ecosystem.
The initial airdrop will be for 200,000,000 JEX tokens, currently valued around $12,000,000 USDhttps://t.co/yp7nNxtEbN
— Binance (@binance) September 8, 2019
In a recent announcement, the acquisition of JEX was once again revealed by Binance, which will currently work under the name Binance JEX as an independent group inside the Binance ecosystem. By this acquirement, Binance will convert ERC-20 JEX tokens into local Binance Chain-based BEP2 tokens.
Furthermore, JEX will presently work with the new name of Binance JEX. It will include a different group inside the Binance environment. Over and above, Binance JEX will help every one of the clients in exchanging these tokens. Subsequently, JEX’s application will help in posting on Binance DEX.
Additionally, in the Binance JEX framework, the functions of the JEX and BNB tokens will be identical; clients can utilize them to get commission discounts, just as access to testing future items. Precisely, 200 million JEX tokens will be circulated among all BNB holders on Binance.com. Distribution members can move toward becoming clients who have at the minimum ten native tokens of a large trade in their account from their previous month. Daily, the organization will check the calculation of account balances from September 6 to October 6.
Beginning from October 6, agents of Binance JEX will manage the distribution of their tokens to the holders of Binance Coin on every month basis; given the size is 30 percent of the profit on the platform for trading futures. Additionally, to get funds from a given airdrop, BNB holders must achieve the same conditions.
To be eligible for this airdrop, clients will need to hold a minimum of 10 BNB consistently every day to be qualified for this airdrop. Moreover, this month to month airdrop first will run for one entire year and might be balanced in the subsequent year dependent on future conditions.
Besides, Binance introduced its mainnet Binance Chain in late April. Binance has been making the news from time to time. As of late, the exchange also launched another platform, Binance X. Further, it is intended for third-party developers, and its definitive objective is boosting the promotion of cryptocurrencies.