Dear Raven Protocol and Binance Community,
We are excited to announce that Raven Protocol will be launching on Binance Chain. This is a RAVEN token generation event. The token launch is happening soon. We are ready to take flight 🚀
If you want to stay updated on the token launch, please let us know here: https://goo.gl/forms/gzcc7lAVGSvgwJ1x1
You might be thinking.. why Binance Chain?
To be upfront, when we first heard about Binance Chain and Binance DEX back in August 2018, we were a bit skeptical. CZ and team gave a demo that was done all via command line. Why would anyone use that over Binance.com exchange? We never thought anything of it again until the Binance Chain launch announcement this April.
1. Great execution by the Binance team
We have a lot of confidence in the execution of the team and where blockchain technology is headed. Eight short months after watching the first command line demo, they launched Binance Chain and Binance DEX on Mainnet in April 2019. That development was incredibly fast. Throughout the bear market, they executed flawlessly.
2. Easy for users to understand and use Binance DEX
It literally took just a few minutes to create a new wallet, send BNB to it from Binance.com, and buy some Mithril (the very first project to migrate to Binance Chain and be listed on the DEX).
Our minds were blown by the ease of use. The majority of DEXs out there today have a bad UI, are confusing to use, and are super slow. That was not the case with Binance DEX. It was intuitive. It felt just like we were using Binance.com. And the transactions happened almost instantly (well I guess it’s one-second block times).
3. Easy to familiarize yourself with the chain
If you wanted to launch a token on Ethereum, you would need to learn Solidity to code smart contracts. It can be confusing. It can be time-consuming. It can introduce security risks.
Issuing a token on Binance Chain is straight forward. Their documentation is really good. They have CLI tools to help you go from issuing a token all the way to listing it. Binance has created a way for any project to launch a token with minimal effort. It’s plug and play.
“We like this ethos. At Raven Protocol, we want to enable every single developer in the world to easily plug AI/ML into their applications. Binance’s pursuit for easy-to-use applications is in perfect alignment with Raven Protocol’s philosophy.”
— Sherman Lee, co-founder of Raven Protocol
The Binance exchange hack makes us want to support Binance Chain and Binance DEX even more
Centralized exchanges are important for sure, but users should be given the option to trade where they want. The benefit of a DEX is that users have full custody and control of their funds. They don’t need to send it to a centralized exchange which may be hacked.
We believe the Binance DEX has the strongest chance of becoming the primary default exchange of choice for anyone looking to trade. We are excited to join hands with the Binance team. When CZ and the Binance team set their mind to something, they execute until it succeeds.
We believe the centralized Binance exchange will remain a significant platform for crypto users, but it still can be vulnerable to attack vectors. Hackers are smart and greedy. They will continuously try to exploit things.
Thus, Raven Protocol will support and grant RAVEN tokens to anyone who will build security and monitoring tools for the Binance exchange. Hint: Using AI/ML to study user behavior and patterns can prevent and detect hackers before they have a chance to withdraw any funds.
The Binance Chain Family. We’re not the only ones supporting Binance Chain and the BEP2 standard
With some great projects already migrating to Binance Chain like Mithril, Bolt, Red Pulse, etc., we’ve received increasing request from our community to be part of the Binance Chain family.
But please, let’s be patient. We are all in this together. This first batch of companies either migrating to or launching their tokens on Binance Chain are making history. We are pushing the industry forward into increasing decentralization.
“We’re excited to have great projects like Harmony, Red Pulse, Mithril, and now Raven Protocol join the Binance Chain family.”
— Benjamin Rameau, Binance Chain
Other exchanges and wallets are also integrating Binance Chain and will adopt the BEP2 standard. Bitmax, Trust Wallet, and tons more are in the pipeline. Binance Chain is going be a force of nature.
For all the non-believers, just remember CZ plays 4D chess. Binance is constantly building and progressing. Adoption will happen and you won’t even remember a time when Binance DEX wasn’t your primary and goto option for trading :)