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You Can Now Test Binance's Decentralized Crypto Exchange

Binance has just revealed the sites for testing its new decentralized crypto exchange and the testnet explorer for its own Binance Chain network.

Na-update Set 13, 2021, 8:54 a.m. Nailathala Peb 20, 2019, 8:00 a.m. Isinalin ng AI
Changpeng Zhao

Binance, the world's largest cryptocurrency exchange by trading volume, has rolled out public testing for a decentralized trading platform built on its own blockchain network.

The company announced on Wednesday the new platform – called Binance DEX – is now up for public testing where users can create their own wallets and interact with the trading platform's interface.

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In addition, Binance revealed the blockchain explorer for the testnet of its proprietary public network called Binance Chain, which empowers the DEX so that traders can participate as individual nodes and hold their own private keys to their crypto assets.

While the launch of the testnet is a major step towards a final roll-out of the decentralized exchange, Binance said it now needs to gather feedback from the community before it can reveal a timeline for the final launch.

“With Binance DEX, we provide a different balance of security, freedom, and ease-of-use, where you take more responsibility and are in more control of personal assets," said Binance's co-founder and CEO Changpeng Zhao.

The company added that Trust Wallet, the blockchain startup Binance recently acquired, and hardware wallet maker Ledger, have already integrated with Binance DEX. Meanwhile, BNB, the ERC20-based token launched by the exchange, will be migrated to Binance Chain upon its final launch.

Binance first announced the plan to develop its own blockchain and a decentralized exchange in March 2018, after it kicked off its centralized spot-trading exchange Binance.com in mid-2017.

In today’s announcement, Zhao further boasted that Binance Chain has “near-instant transaction finality with one-second block time.” He added that such capability can potentially enable Binance DEX to handle the same volume Binance.com is handling today.

That said, Zhao also indicated on Twitter days ago that there will be a listing fee of around $100,000 for tokens to be listed on Binance DEX – a high entry bar he said was set to reduce the number of scam projects.

CZ image via CoinDesk archives

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Pudgy Penguins: A New Blueprint for Tokenized Culture

Pudgy Title Image

Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.

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Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.

The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.

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Bitcoin climbs above $89,000 as U.S. dollar tumbles on President Trump's remarks

Donald Trump points at the audience during a press conference at the White House.

The president said he isn't concerned about the dollar's recent declines, sending the greenback plunging even lower.

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  • Bitcoin rallied above $89,000 as remarks by President Trump sent the dollar to its lowest level in nearly four years.
  • Gold rose to a new record above $5,200 per ounce following the president's comments.
  • One analyst is seeing a bullish technical divergence which could send bitcoin back to $95,000 in short order.