In a bid to show how serious the Neutron project has become, over 190 million ATOM tokens have been staked through the CosmWasm platform.
Binance, a leading cryptocurrency exchange for bitcoin balance and KYC registered global users, has announced that Neutron (NTRN), a cross-chain smart trading platform, will be available for spot and margin trading with a seed tag. According to the announcement, spot trading of the NTRN token will be available to select Binance users starting October 10. The NTRN token will be tradable on the spot platform through bitcoin, Binance Coin (BNB) and Tether (USDT) pairs. The crypto exchange added that Neutron (NTRN) will be added as a lendable asset with the Tether USDT pair in margin trading within 48 hours.
Notably, the withdrawal of Neutron tokens from the Binance exchange will open on Wednesday, October 11. Meanwhile, Neutron’s listing fee has been set at 0 BNB, as the exchange is one of the original investors in the project.
Why Binance Supported the Neutron Project with Token Listing
He list of Neutron tokens on the Binance cryptocurrency exchange was strategic as it helps widespread adoption of supported chains, including BSC, which in turn helps BNB expand its liquidity and daily traded volume. In particular, the Neutron project has stated since its inception that it intends to simplify the challenges faced by multi-chain protocol hubs. By introducing a secure and neutral cross-chain infrastructure for DeFi developers, the Neutron project anticipates further democratization of smart contract technology.
The Neutron (NTRN) project is backed by some of the top crypto-centric VCs including CoinFund, Binance Labs, Semantic, Swiss Stake, Nomad Capital, Longhash ventures, and Chainlayer, among many others. The Neutron team developed an infrastructure that enables smart contracts that can query, transact, and manage accounts remotely.
In a bid to show how serious the Neutron project has become, over 190 million ATOM tokens have been staked through the CosmWasm platform.
“Neutron is adding cross-chain accounts (ICAs) to CosmWasm smart contracts. ICAs allow smart modules and contracts to execute and track transactions in foreign zones, without implementing additional code. “With ICQs, they are Interchain’s DeFi secret sauce,” the company said. noted in your documentation.
Following the announcement, Cosmos Hub’s native token (ATOM) rose around 3 percent to trade around $6.91 on Tuesday. Notably, the ATOM market had a valuation of approximately $2 billion and a 24-hour trading volume of approximately $208 million.
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Amid US-led global regulatory scrutiny of digital assets, the Web3 industry is rapidly evolving to adapt to the widespread adoption of blockchain technology through the democratization of smart contracts. Additionally, smart contracts that can be securely deployed from different chains can onboard billions of global users looking to scale their networks and operations.
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