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MITH listed on Binance, 20,000 BNB donated to charity

15 Nov, 2018
by Alberto Arnaldo
News
MITH listed on Binance, 20,000 BNB donated to charity

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.

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:

Read more: Mithril’s founder calls Binance’s CEO the second coming of cryptoBinance lists community coin round 8 winner - Polymath (POLY)

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