Binance Launchpool, a new initiative designed to bring the decentralized finance (DeFi) experience to Binance users, has just announced the addition of CertiK Chain, a cross-chain protocol with security scoring and decentralized reimbursements for building secure dApps and blockchains, according to a press release shared with iHodl.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
Thanks to its native in-chain features, which include Security Oracle, CertiKShield Reimbursement Pool as well as a hyper-secure programming language (DeepSEA), CertiK Chain has been designed to ensure the security of multiple types of blockchain products.
The project also has its own native token, the CTK, which serves for multiple purposes. For instance, it is used as gas consumption for smart contract operations, staking for network consensus, rewards for participating in the Security Oracle network, collateral and reimbursements for CertiKShield, as well as community voting for decentralized network governance.
Apart from announcing the addition of CertiK to its Launchpool, Binance has also committed 1,000,000 CTK to fund a CertiKShield Reimbursement Pool for Binance Smart Chain, enabling audited BSC projects to become members to obtain protection against hacks and code malfunctions.
As a result of CertiK Chain's participation in the Launchpool, users will be able to stake their BNB, BUSD, or CTK tokens into separate pools to farm CTK tokens, starting from October 23 at 0:00 AM (UTC).
In addition, Binance has also announced it will list CTK on October 27 at 8:00 AM (UTC) and open trading for CTK/BTC, CTK/BNB, CTK/BUSD and CTK/USDT trading pairs.