TLB Token joins the Binance ecosystem
Dear TLB Holders,
We’ve got exciting news that we’re eager to share with you! The Luxury Coin (TLB) is going to move from Ethereum to the Binance Smart Chain.
We’re thrilled to be joining the Binance ecosystem as an early adopter. Swapping our token to the Binance Smart Chain will allow for easier integrations with other Binance services in the future. And this means more options for our TLB Crypto users!
What is the Binance Smart Chain?
Binance Smart Chain is a blockchain built by the cryptocurrency exchange company “Binance”. Their newly developed blockchain is an Ethereum Virtual Machine (EVM) compatible blockchain that enables smart contracts, and runs in parallel with the Binance Chain.
The Binance Smart Chain is similar to the Ethereum blockchain as it seamlessly connects with existing Ethereum development tools and infrastructure, which helps with the migration of the TLB Token.
Binance’s newest blockchain is designed for Decentralized Finance (DeFI) and has already seen many projects launch their decentralized applications on Binance Smart Chain.
Benefits of the Binance Smart Chain
The Binance Smart Chain is a faster, lower-cost alternative to the Ethereum blockchain. Transaction fees on Ethereum have risen to a point where smaller transactions are no longer economical. In contrast, the Binance Smart Chain transaction fees will only be around 1 cent, which is a fraction of the cost on Ethereum.
These low fees will therefore drastically reduce the costs of sending tokens. This will support future utilities of the TLB Token where larger amounts of micro-transactions can be executed. Additionally, the consensus algorithm of Binance Smart Chain allows for a block to be produced every 3 seconds in comparison to every 20 seconds on Ethereum. This means that transactions can be processed much faster.
What is required from token holders?
Migration is very simple you just send your TLB (Ethereum) token to the below address. We recommend using minimum Ethereum Gas Fees as this is not a time-critical task.
Your new tokens will be sent to you on Binance Smart Chain at the same address within 24 hours.
Is there any deadline?
Well, of course, we will be monitoring that address for this whole year (till 1 JAN 2022).
How long till I receive my tokens?
It can take up to 24 hours
TLB ( Binance Smart Chain): https://bscscan.com/address/0xb5791d504367dee4ba3a379fb3d3d5a6b955cb2e