On this fine Monday, we’re excited to bring excellent news to you — we’ll be moving our NOW token onto the Binance Mainnet!
Last week, when Binance, the biggest cryptocurrency exchange in the world, announced the launch of the Binance Mainnet, the entire crypto world went wild. Thousands of people who supported either Binance’s native token, BNB, or the tokens of other projects, started their call for action, asking Binance’s reps to have their favorite coin to be moved to the Binance’s own blockchain.
ChangeNOW, as a company that does its best to make its community happy, decided to follow suit. Very soon our NOW Token will be issued on the Binance Blockchain — as soon as we get all the technical kinks worked out.
Here’s how we are going to issue NOW on the Binance Chain:
We decided that we will be moving half of the NOW supply to the Binance chain, while the other half will remain on the Ethereum blockchain.
When the move kicks off, our brand new service, NOW Swaps, will help our holders make the process as smooth and easy as possible.
Here’s a little bit of math to make things easier:
The current supply of NOW tokens is 200,000,000.
100,000,000 of those will be burned and released on the Binance Chain.
Other 100,000,000 NOW will remain on the Ethereum chain — those include the current airdropped emission of about 42 million out of the 60 million NOW that we’re airdropping to our clients and partners.
The 100 million tokens that will remain on the Ethereum blockchain will, of course, be swappable to the Binance chain tokens at 1:1 rate through NOW Swaps — however, our holders are free to keep them and use them as they are.
This is done in order to give our customers freedom of choice when it comes to the NOW token — we don’t want the migration to feel forced upon our holder base. Besides, the token will exist in two networks at the same time — no deadlines, no restrictions, no limits. That’s pretty great!
Now, when will it happen?
We will be moving NOW to the Binance Chain as soon as Binance reps will give everyone the go-ahead on the releasing process — not all technical details are clear yet, so it’s recommended to wait until the network is stable after the initial release. As soon as Binance Chain is stable and ready to go, we’ll issue NOW on it right away!
See you on the other side!
ChangeNOW is a non-custodial crypto exchange service that allows for smooth and limitless exchanges of more than 170 cryptos — account-free, worry-free, faster than light.
NOW Swaps is a service that allows you to perform seamless migrations of any token to the new mainnet in just a few easy steps. Contact email@example.com if you wish to migrate a token to the new mainnet and we’ll design a custom workflow for you.
Originally published at https://changenow.io on April 22, 2019.