In line with a recent official ‘announcement‘ published, renowned decentralized social media platform named MITH [Mithril] has adopted the Binance Chain, the mainnet of the leading cryptocurrency exchange named ‘Binance’.
Within the official web-blog post, Mithril – a social media platform that rewards its creators with its native MITH token – becomes the purported primary to shift to the Binanche Chain, with MITH token migrating from ERC-20 to BEP2 protocol. At Mithril, users gain MITH through Mithril ‘mining‘, whereas managing their assets on the company’s platform ‘VAULT’.
Binance users are able to withdraw MITH to BEP2 wallets following the completion of the initial migration of ERC-20-based MITH to BEP2. This event of development can supposedly not have an impact on ERC-20 versions of MITH held privately Ethereum [ETH] wallets.
Binance ‘launched‘ Binance Chain yesterday on 18th April, and expects to execute the swap of its native token BNB [Binance Coin] on 23rd April. The exchange primarily ‘disclosed its plans‘ to launch its own ‘blockchain‘ earlier in the month of December last year, aspiring to build a basis for supplying new cryptocurrencies and ICO [Initial Coin Offering] tokens.
Moreover, with the launch of Binance Chain, the exchange provided details for the conversion of ERC-20 BNB tokens into its native Binance Chain-based BNB [BEP2] coins. Also, Binance outlined that it’ll not support the withdrawal of ERC-20 BNB tokens after 23rd April.