Mithril (MITH) To Be The First Project To Migrate To Binance Chain
Just as soon as Changpeng Zhao, the CEO of Binance, has completed the first genesis block transaction on Binance Chain, he has already announced the name of the first project ever to migrate to the Binance Chain: Mithril (MITH).
Starting soon, the MITH tokens will start to be based on the new chain instead of the Ethereum (ETH) network, which is still the main option for companies that do not have their own chain yet.
Mithril is a decentralized social media platform. The main idea of the platform was to reward the content creators using their own MITH tokens. This way, the tokens are used as rewards for the people who create interesting and popular content on the network.
According to Mithril, the migration will start soon after the Binance Chain mainnet is launched. Mithril affirms that, by swapping their tokens, people will be able to maintain control of their funds while using a technology that is considerably faster and friendlier than the current one.
Binance is arguably the most important crypto exchange in the market today. The Malta-based company is one of the few companies that profited during last year’s bear market.
Now, the company has released its decentralized exchange (DEX), in which the users can trade the tokens by themselves. The DEX will be created on top of Binance Chain, which is why Binance is so eager to make it successful.
The company is reported to be talking with several companies right now in order to make them migrate their ERC20 tokens from Ethereum to the Binance Chain. Some people have even affirmed that Binance is threatening to delist low-volume tokens which do not agree to change their chains to Binance Chain.
With such a strong emphasis on growing its business, you may hope to see many other companies doing the change in the near future.