G’day Hutters,
We have an important and exciting announcement today which is the culmination of a significant effort over the last weeks and months. The Entropy Token is expanding its reach considerably, and will be proposing a listing on the Binance Chain DEX.
Binance Chain is one of the most exciting new products to launch in recent times and we’ve been hugely impressed with its performance throughout our testing. Binance Chain uses a blockchain technology called ‘Tendermint’ for its consensus mechanism — Tendermint also powers the popular “Cosmos — Internet of blockchains” project which offers us significant benefits in terms of scaling our platform, and the speed of our transactions.
The ENTRP ‘BEP-2’ token which will be created on Binance Chain will mirror the supply of the ERC-20 token, being 100,000,000 tokens. The total maximum circulating supply of the Entropy ecosystem across all chains remains 100,000,000. The cross chain management of ENTRP will be managed in a similar way to many other projects considering migration in that tokens can be moved seamlessly from the ERC-20 token on the Ethereum chain over to the BEP-2 standard on Binance Chain. We will be releasing these process details closer to the launch of BEP-2 ENTRP.
Creation of liquid and vibrant markets for the Entropy Token (ENTRP) is an important part of the project roadmap and a listing on the Binance DEX leverages their strength and community to help us on this pathway.
We are thrilled to be introducing the Entropy Token to the Binance community as we build the utility inherent in our Data Marketplaces, hutX objects, and extend the toolkit for the new Data Economy!
Don’t forget to follow us on twitter and join our Telegram; to find out more and to discuss all things data monetisation and Hut34!
Onwards and Hutwards,
The Hut Team
