Binance DEX launched XRP-backed digital token - page 2.

shinratensei_

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Quote from: notblox1 on October 13, 2019, 09:09:00 AM

I feel the same like some other members here,
and I can't understand why would anyone list XRP pegged token?

Probably it is just some money sponsorship deal and promotional stuff behind the scene.

The reason is XRP is building on its own blockchain and to be listed on binance DEX, XRP must create a token that built in the binance blockchain and that's why this token has already created. The article says if this will help XRP to increase its liquidity but the fact that will not help XRP a lot or even give a small impact.
You can try to compare how much daily volume trade will be received by that token backed by XRP and the total daily volume of real XRP coin.
Im not seeing a special thing from this news but some people above me who never tried even to read the article and understand the case will blatantly say nonsense things about that.

notblox1

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I feel the same like some other members here,
and I can't understand why would anyone list XRP pegged token?

Probably it is just some money sponsorship deal and promotional stuff behind the scene.

lobat999

sr. member

Activity: 1078

Merit: 310

I really can't understand what is the point on why Binance listed this XRP pegged token when most people are well aware that XRP is already listed on almost all major exchanges and has extensive pairings, hence there is no real need for "liquidity" because I don't believe it!

I think this is just a marketing strategy to further promote XRP, Binance and its subsidiaries and in one way could be viewed as being redundant. Grin

Reference: https://coinmarketcap.com/currencies/ripple/#markets

Bttzed03

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Quote from: ashmodeus on October 13, 2019, 07:16:30 AM

i guess it's a not making significant progress , u know why ?
because, basically, major coins like btc/eth/xrp buyed from centralized exchange.
although its backed by real XRP, its will no interest from dex buyer.
so, i just say it's a useless thing.

Only time will tell.

All these have been added to the Binance DEX so far to increase exchange liquidity:
BTCB - Bitcoin pegged
USDSB - Stable coin
and the latest XRP-BF2

You also have to consider that the exchange is still new compared to most DEX and CEX.

ecnalubma

sr. member

Activity: 1540

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Binance Dex is another great product by Binance a company focused on bringing good initiative. Not a Binance fan but it seems that they had never disappointed their investors since day one. I have no doubt that Binance will soar high for their innovations.

ashmodeus

hero member

Activity: 1638

Merit: 518

i guess it's a not making significant progress , u know why ?
because, basically, major coins like btc/eth/xrp buyed from centralized exchange.
although its backed by real XRP, its will no interest from dex buyer.
so, i just say it's a useless thing.

Javi_Anibarro

sr. member

Activity: 1540

Merit: 282

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CZ really knows how to create an opportunity for his project to grow, there is a high possibility for other blockchains to move out and create a token in Binance chain and pegged it with its native coin in order to get listed on their Binance Dex.
but why did XRP agree to do that? to increase its availability? I think it is very risky for them to allow CZ holds 10,000,000 XRP-BF2 pegged with real XRP native coin.

Alluro

member

Activity: 742

Merit: 19

That is a good thing for the traders. Because the traders can trade XRP in the Binance DEX. The Binance DEX has more coins on Binance Chain. I hope Binance DEX will list more top coins on Binance Chain in the future. If Binance DEX can bring more volume to those coins, it is a huge plus.

cryptowiked

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The token XRP-BF2 is the real token to be pegged like the genuine XRP, it was likewise referenced Binance started the trading of XRP to XRP-BF2 and the equivalent in invert fro stores and withdrawals.

So as to build the exhibition and better versatility of Binance DEX, a comparative token as XRP-BF2 pegged with XRP is going to be propelled. This activity may dispatch Binance DEX as a comprehensively perceived decentralized trade stage.

New Source: Thecoinrepublic
https://www.thecoinrepublic.com/binance-dex-launches-native-token-pegging-to-xrp/

Topic: Binance DEX launched XRP-backed digital token - page 2. (Read 260 times)