Binance listed new token. BEST and METIS ICO already began
Binance announced today that GYEN, a regulated stablecoin pegged to the Japanese yen, will start trading on its platform. The platform opened trading for BTC/GYEN, as well as USDT/GYEN trading pairs.
The world’s largest cryptocurrency exchange partnered with New York-based GMO Trust recently. The latter is a subsidiary of GMO Internet Group – A Tokyo-based global financial and tech conglomerate.
The GYEN is a financial-grade stablecoin explicitly designed to help people benefit from the growing blockchain finance sector. Customers can purchase GYEN directly from GMO Trust. They will also be able to redeem the token 1:1 for fiat.
GMO-Z.com Trust Company aims to become the bridge between blockchain and traditional finance for everyone. Along with GYEN, the world’s first regulated Japanese YEN-pegged stablecoin, they are issuing ZUSD, the new digital dollar.
GMO-Z.com Trust Company was established in 2020. Initially, it had a limited purpose trust charter, granted by the New York State Department of Financial Services. The company is currently a subsidiary of IT and financial conglomerate GMO Internet Group from Japan.
The number of mainstream companies and institutions aiming to adopt digital assets continues to grow. As a result, more and more people invest in stable coins. They play a major role in the cryptocurrency market because of offering price stability.
Such demand for a stable digital asset has led to an increase in the trend towards digitizing some of the leading currencies worldwide, including USD and JPY.
The popular stablecoins TrueUSD (TUSD) and Tether (USDT) are pegged on the US dollar. On the other hand, the Japanese yen backs GYEN by 100%.
Ken Nakamura, the GMO Trust’s chief executive, noted that they digitized one of the world’s most-traded currencies, adding that providing an asset to Binance’s ecosystem of institutional and retail users is a clear sign that digital coins are moving mainstream.
Apart from being 100% fiat-backed, the New York Department of Financial Services (NYDFS) fully regulates GYEN in the U.S.
The Bitcoin and Ethereum Standard Token’s ICO already began
The Bitcoin and Ethereum Standard Token project launched its ICO today. The project goal is to raise $60,000 by selling 7,500 tokens at a price of $8 per token. 12,500 BEST tokens are for sale currently, as the initial token offering will end in several hours.
Bitcoin and Ethereum Standard Token (BEST) decentralizes crypto mining. To do that, BEST anchors real Bitcoin and Ethereum mining power. Investors holding and staking BEST tokens will be able to tap into BTC and ETH mining income using the power of smart contracts. They can also tap into a nascent mining business without setting up mining farms and maintaining any hardware. The team plans to add more valuable crypto-assets into the BEST ecosystem in the future.
The world’s leading mining giants, including Tandao Mining, Weisi Mining, Jiejie Ming, and others, co-founded the BEST token. Besides, the project technical consultant is the former CTO of TRON network. F2Pool is also their in-depth strategic partner.
This token has the potential to change the crypto space
Since the beginning of 2021, the crypto market has continued to grow, gaining more and more attention. The bitcoin price also increased gradually. In mid-Feb, it surpassed the $50,000 mark in one fell swoop and even reached $60,000 later.
Despite crypto’s popularity, ordinary investors have always been discouraged from investing in them for reasons such as high mining costs and low circulation of mining machines.
However, Hashrate Token BEST uses DeFi products to overcome the barriers of the mining industry. It has recently become the focus of the entire industry.
The team behind the project noted that this token is not a new invention. In 2020, Binance introduced hashrate token 1.0. The hashrate token’s goal is to solve the problems of cloud mining power, as well as the problem of poor liquidity of the cloud mining machine industry. This is essentially a mining model token, which is able to standardize mining power. Investors can freely combine and trade it.
Metis also introduced new project. Its ICO is live now
Metis is launching its native token today. The company aims to raise $50,000 through the sale of 10,000 METIS. The ICO price is $5 per token. The token is currently on 52,028 watchlists, and the demand for it is quite high.
Metis is currently building an easy-to-use, low-cost, fully functional, and highly scalable Layer 2 framework (Metis Rollup). With it, Metis can fully support the business and application migration from Web 2.0 to Web 3.0.
Furthermore, its scalable protocol enables a wide range of use cases, including decentralized Reddit-like social platforms, NFT platforms, open-source developer communities, DEX trading, gaming communities, influencer communities, freelancer communities, yield farming, crowdfunding, and much more.
According to the team, the project integrates the Decentralized Autonomous Company (DAC) framework within its Layer 2 infrastructure. This is a differentiating factor that makes it easy for developers or community leaders to build their applications and communities.
Besides, it allows customers to use pre-set tools easily, helps with their development, and simplifies collaboration. As a result, users can enjoy the network effects of the world’s largest decentralized finance ecosystem without the bottlenecks and costs normally associated with Ethereum.
Metis aims to make building DACs and DApps on its platform very easy and convenient; With this platform, even total blockchain amateurs can make it happen in a matter of minutes.
Why is this project important?
Current DAO architecture focuses solely on efficient voting systems and governance. Meanwhile, Metis defines DAO as a fundamental unit supporting and managing the operation of decentralized businesses and applications. The company noted that building trust among distrusted community members, along with managing decentralized collaborations, is the real challenge. However, it believes that the future lies in the autonomous, decentralized management of day-to-day operations in a Decentralized Autonomous Company (DAC), which is a decentralized organization.
Metis believes that with its solutions, investors will be able to achieve their goals easily. Its main goal is to help with the development of the DeFi space.