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BNB/ETH Trading Pair Added to Binance DEX

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BNB/ETH Trading Pair Added to Binance DEX

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Cryptocurrency exchange Binance has added the Binance Coin/Ether (BNB/ETH) trading pair to its decentralized exchange (DEX), according to a company announcement on Dec. 24.

Last week’s proposal is this week’s launch

The listing follows an initial proposal posted on the Binance community website a week ago by Binance CEO Changpeng Zhao, popularly known as CZ.

ETH BEP2 tokens will be issued on Binance Chain, pegged to and backed 1:1 by ETH assets held in a publicly disclosed reserve address. Binance will support conversion between native ETH and the Binance Chain equivalent through deposits and withdrawals.

This will provide an option for Binance DEX users to trade ETH on the decentralized platform.

There is also a project asset page on Binance DEX explorer.

Vitalik says Binance DEX more centralized than ETH

Coincidentally, Cointelegraph reported on a Twitter discussion just yesterday about Binance DEX, involving Ethereum co-founder Vitalik Buterin.

Buterin defended Ethereum against accusations of centralization, saying that Binance DEX “seems like a way better target” for such attacks, claiming that Binance DEX is “hardly decentralized” despite its name.

In contrast, Buterin suggested that Ethereum “merely has a few governance values that some BTC people don’t like.”