Yesterday, together with the launch of the native Binance Chain network, the decentralized DEX exchange started its work. Its functioning has been tested for a long time. Any Binance user could take part in testings. During the tests, 8.5 million simulation transactions were conducted. As a result, the launch was successful and on time.
However, full trading functionality will be available in a few days. The Mainnet of Binance involves the transition of BNB (Binance Coin) from the ERC-20 to BEP-2. It takes some time, including the creation of trading pairs.
Don’t worry about the correctness of the BNB swap. The main wallets that supported the native token of the exchange, also support the swap. If your BNBs are on the exchange, then everything will go automatically. For thrill-seekers, the developers left the opportunity to withdraw Binance Coin to the ERC-20 wallets. Probably, someone needs it.
Changpeng Zhao, CEO Binance, described the peculiarities of trading on the DEX:
As you can see, trading will be really decentralized, as transparent and understandable as possible. Deposits and withdrawals will be cancelled, you will be able to trade directly from your wallet. This also reduces the cost of trade, because there will be no fees associated with the movement of funds to the “intermediary” and back.
Many people say a new era of financial relations in the crypto community is beginning with the launch of the DEX. This is a quite possible scenario. Given the recovery of the market and the popularization of cryptocurrency, it seems that Binance DEX is at the right time and place.