Binance DEX Rolls Out Ontology-Pegged Asset
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April 21, 2020

Cryptocurrency exchange Binance has issued ONT-33D, a digital asset pegged 1:1 to ontology (ONT) tokens, on the Binance Chain and is listed on Binance DEX.

According to an official press release that was shared with iHodl, ONT-33D is the BEP2 token backed by ONT at a 1:1 ratio.

The exchange will issue approximately 1.5 million ONT-pegged tokens to be traded at first and will continue to mint more in response to market demands.

Launched back in April 2019, Binance DEX became one of the largest decentralized exchange services in the industry.

Binance Burns 10% of its BNB tokens

Ontology includes support for all Ethereum-based tokens, in-dApp stablecoin query, and many other functions. It will add a node staking feature soon with the intent of integrating it with the Binance DEX, providing better DEX services for ONT users, and making it easier for them to have full control over their assets while participating in ecosystem governance.

Last year, Binance DEX announced it was planning to launch a token linked to bitcoin cash (BCH).

The company said that BCH-1FD aimed to provide a token pegged to BCH value for trading on Binance DEX.

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