Binance Chain <> qiibee
Dear Binancians and qiibeeans
All of team qiibee are absolutely excited to announce our integration with Binance Chain, a new blockchain software system developed by the well known and world-leading crypto exchange, Binance and the community. Team qiibee sees the enormous value that Binance has added to the blockchain and crypto community in large scale and anticipates to becoming a determined participant in their new decentralized exchange.
About Binance Chain
The aim which Binance wanted to obtain with the Binance Chain, was to create a native blockchain for users to issue, use and exchange digital assets in a decentralized manner. And their first use case for Binance Chain, was Binance DEX a new decentralized exchange (DEX). Binance CEO Changpeng Zhao said in an earlier announcement: “We believe decentralized exchanges bring new hope and new possibilities, offering a trustless and transparent financial system. … With no central custody of funds, Binance DEX offers far more control over your own assets.”
Dexs (Decentralized exchanges) are characterized by allowing consumers to maintain full control over their funds because all critical features are performed on the blockchain. Thus, the exchanges are more transparent.
The migration
qiibee will migrate initially 10 percent of the qiibee Tokens (QBX) to the Binance Chain, and submit a listing proposal to the Binance community. Upon the node validator approval, QBX will be tradable on Binance DEX, a decentralized exchange developed on top of Binance Chain. The total token circulating supply of 1.38 billion QBX will remain the same as before, ensuring continuity and transparency in regards to our market-driven token economics and market cap.
Gabriele Giancola, qiibee’s CEO said: “Thanks to the Binance Chain integration we’ll be able to benefit from its large liquidity pool coming from the Binance Community, known as one of the biggest and vivid crypto communities. By joining Binance Chain ecosystem, we would like to introduce “Loyalty on the Blockchain” to Binancians worldwide. With that we aim to bring and add dozens of new users during the upcoming months.”
The integration with the Binance Chain will allow qiibee users to exchange their existing Ethereum-based QBX to the newly issued binance-based QBX and thereby enable them to transact on the Binance Chain. qiibee users can therefore get into the new Binance Chain ecosystem without any overhead. This makes the migration easy, so contributors and token holders do not have to worry about complex technical workflows. Exact technical implementations will follow in the future.
About qiibee:
qiibee is the new standard for loyalty on the blockchain. Through qiibee’s plug and play solution, companies can tokenize their loyalty points in just a few hours and store the reward and redemption transactions on the blockchain. qiibee’s infrastructure enables brands to run and operate their loyalty programs on the blockchain maintaining full control without the need for cost-intensive integration.
Through qiibee’s loyalty exchange these corporates can make their loyalty points tradable with other points, rewards or crypto whereby customers experience a way more user-friendly loyalty landscape. Moreover, with that qiibee bring blockchain and crypto to everyone.
Among its clients are renowned brands like Lattesso, the second largest cold coffee producer in Switzerland, and kkiosk and press&books who collaborated with qiibee to run a Christmas campaign. The Zug-based startup attracted also customers from abroad. Sausalitos, the largest cocktail producer in Germany operating more than 40 restaurants tested the qiibee solution with a pilot project in five locations. Thanks to the successful test the loyalty program has been rolled out to all 44 locations in May. For 2019 there are 3 more roll-outs confirmed and many more in the pipeline.
