BOLT to become first crypto project to move to Binance Chain

01 May, 2019
BOLT to become first crypto project to move to Binance Chain

New crypto startup BOLT, has announced that it will be moving to Binance Chain as the first crypto to do so. 

The ERC-20 BOLT token will be moving to the Binance Chain ecosystem and becoming a BEP-2 coin which will eventually be traded on Binance and Bitmax, the announcement stated.

BOLT stated that the reason for the move to Binance Chain was due to the similarities in projects, saying "Binance’s mission to spread the freedom of money is keenly aligned with our mission to decentralise the chain between content producers and users. We believe that by working together, we will be able to continuously build and deliver a unique and ambitious ecosystem of users, partners, and content creators, where creativity, connections, and discovery can be bonded together."

Chief Growth Officer of Binance Ted Lin commented on the partnership, stating "We are delighted to be working with BOLT to help scale their efforts to more markets and users around the world through the power of the Binance Chain. The Binance Chain, which has a one-second block time, will ensure transactions and interactions by BOLT’s users to be fast, efficient and effortless"

In the announcement, BOLT stated that the tokens are planned to be traded on both Bitmax and Binance when Binance DEX goes live. BOLT also announced that 15% of its supply, 150M tokens, would be swapped to the Zilliqa protocol, with MAx Kantelia the Co-Founder of Zilliqa stating that "As a long-standing partner of the BOLT ecosystem, we are looking forward to facilitating BOLT’s video analytics and payment reconciliation systems through Scilla, Zilliqa’s smart contract language. We will be working closely together with BOLT to bring the power of Blockchain to more content creators and users around the world."

BOLT appears to be making all the right moves with some of the biggest players in the industry.

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