Binance has announced the addition of Mithril to the exchange, and has already opened deposits for MITH, in preparation for its upcoming listing today at 2 PM. (UTC). In line with their recent change of listing fees policy, the 20,000 BNB equivalent supplied by MITH will go to Binance Charity.
Named after the fictional metal from the Lord of the Rings which resembles silver but is stronger and lighter than steel, and run by Jeffrey and Wilson Huang, Mithril is already trading on Bitfinex, Bithumb, Lbank, OKEx and HitBTC, next to Binance.
MITH is an ERC-20 utility token, built on the Ethereum blockchain. According to its team, it has three core use cases: social mining by creating content or interacting with it, staking in Mithril vaults to accelerate social mining, and payments using the Mithril Merchant Network.
Right after the listing was announced, the price of MITH spiked up momentarily, only to retract down to slightly higher levels than those previous to the announcement. Twitter user @HarrieRobins was not thrilled by the timing of this listing:
Mithril could have been listed on Binance for free earlier via community coin round 8, where it received most votes. However, Polymath ($POLY), the 4th classified, won the round after the top three coins were discarded after a series of Medium articles gave convincing evidence of transactions to enable votes on Binance’s poll, as we previously reported.
Changpeng Zhao has announced that the 20,000 BNB (worth around 165,000 dollars at press time) listing fee will go in full to the Binance Charity Foundation.
Now, 100% of the listing fee go to the 100% transparent blockchain charity @BinanceBCF, in this case, about $200,000 USD worth. Result: 1 destroys the myth around "millions in listing fees", 2 improves transparency, 3 coins gets listed, 4 charity get funded. https://t.co/YHDK2oObQl— CZ Binance (@cz_binance) November 15, 2018
This goes in line with Binance’s new listing policy, which had to undergo changes after creators from Expanse platform publicly complained about a supposed request of 400 BTC from a Binance representative in exchange for a listing. This is how CZ replied back then:
We don't list shitcoins even if they pay 400 or 4,000 BTC. ETH/NEO/XRP/EOS/XMR/LTC/more listed with no fee. Question is not “how much does Binance charge to list?” but “is my coin good enough?” It’s not the fee, it's your project! Focus on your own project!— CZ Binance (@cz_binance) August 11, 2018