VINU will be on Binance Smart Chain!

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VINU | Vita Inu

3 min readJan 29, 2022

The VINU team is proud to announce that $VINU will soon be available on Binance Smart Chain (BSC) (https://www.binance.org/en/smartChain)! Scroll below to find out more!

Q: What is cross-chain listing?

A: One problem in the cryptocurrency space is that many blockchains can’t really talk to each other. For example, if you make a VINU transaction on the Vite network, there are no records of it on other networks, such as the BTC, ETH or BSC networks. You also cannot send VINU tokens to a BSC address. The blockchains are disconnected. Cross-chain listing partly solves this problem — by listing VINU on BSC, it allows us to convert native VINU tokens (on the Vite network) into tokens on the BSC network.

Q: How does cross-chain listing work?

A: We know that VINU is a token on the Vite network. Upon cross-chain listing, VINU will also be a token on another network (in this case, the BSC network). The latter is called a “wrapped” token. It’s called a wrapped token because the original asset is put in a wrapper, a kind of digital vault that allows the wrapped version to be created on another blockchain. However, despite the fact that the native tokens and the wrapped tokens are on different blockchains, the value of the wrapped token is pegged to the value of the native token. Or, as they say, 1 $VINU = 1$VINU.

Q: Why is VINU doing cross-chain listing? Why not just stay on the Vite network?

A: It is important for the growth of the VINU project to have as great an outreach as possible. In addition to bringing people to VINU on the Vite network, we also want to take VINU to other people. This is why we have been very active in listing VINU on multiple exchanges. Cross-chain listings are complementary to this effort — we can reach more people within the cryptocurrency space by moving beyond the Vite network.

Additionally, doing cross-chain listings allows users to access VINU through various decentralised swaps — there is no need to register for centralised exchanges. This helps to preserve the anonymity of those users who do not wish to divulge their personal details to centralised exchanges.

Finally, being cross-chain listed on a more popular blockchain may also make it easier for VINU to be listed on bigger and better centralised exchange. Most exchanges have already integrated the BSC network, and can simply integrate VINU directly, without having to first integrate the Vite blockchain. This means, again, potentially greater outreach and accessibility for VINU.

Q: Why did VINU decide on Binance Smart Chain?

A: BSC is one of the biggest blockchains for various memecoins. Listing on BSC means that holders of other cryptocurrencies can swap their tokens for VINU quickly and with relatively low fees. This opens up a huge potential avenue for VINU to reach more users, beyond those who are already familiar with the Vite ecosystem.

Furthermore, the BSC blockchain also has the capabilities for the development of smart contracts and various other dApps. In fact, BSC already has very extensive and vibrant DeFi ecosystems, that Vite and even other blockchains lack. This means that there are more things that we can do with VINU, beyond the Vite ecosystem.

Q: When is this cross-chain listing happening?

A: If things go as planned, this will be completed next week.

Q: Will VINU be cross-chain listed on other blockchains?

A: As a start, we will focus our attention on BSC, and developing VINU on that network. Once that is sufficiently developed, we will consider cross-chain listing on other platforms. Keep your eyes peeled!

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