To show how serious the Neutron project has become, over 190 million ATOM tokens have been staked through the CosmWasm platform.
Binance, the leading cryptocurrency exchange with Bitcoin balances and KYC registered global users, has announced that Neutron (NTRN), a cross-chain smart-contracting platform, will be available for spot and margin trading with the seed tag. According to the announcement, NTRN token spot trading will be available to select Binance users starting October 10. The NTRN token will be tradable on the Spot platform. BitcoinBinance Coin (BNB), and Tether (USDT) Add. The crypto exchange said that Neutron (NTRN) will be added as a borrowable asset with the Tether USDT pair on margin trading within 48 hours.
Notably, withdrawals of Neutron tokens from the Binance exchange will be opened on Wednesday, October 11. Meanwhile, the Neutron listing fee is set at 0 BNB, as the exchange is one of the original investors in the project.
Why Binance Backed Neutron Project With Token Listing
Entry The launch of the Neutron token on the Binance cryptocurrency exchange was strategic as it helps drive mainstream adoption of supported chains, including BSC, which in turn helps BNB increase its liquidity and daily traded volume. Notably, the Neutron project has been vocal since its inception that it intends to streamline the challenges faced by multi-chain protocol hubs. By introducing a secure and neutral cross-chain infrastructure for defi Developers, the Neutron project hope to further democratize smart contract technology.
The Neutron (NTRN) project is backed by some of the leading crypto-focused venture capitals, including Coinfund, Binance Labs, Semantic, Swiss Staking, Nomad Capital, LongHash Ventures, and Chainlayer, among many others. The Neutron team has developed an infrastructure that enables smart contracts that can query, transact, and manage accounts remotely.
To show how serious the Neutron project has become, over 190 million ATOM tokens have been staked through the CosmWasm platform.
“Neutron is bringing Interchain Accounts (ICA) to CosmWasm smart contracts. ICA allows modules and smart contracts to execute and track transactions on foreign territories without deploying additional code. “With ICQ, they are Interchain’s secret DeFi sauce,” the company noted In its documentation.
Following the announcement, the Cosmos Hub native token (ATOM) was up nearly 3 percent on Tuesday, trading around $6.91. Specifically, the ATOM market valuation was approximately $2 billion and the 24-hour trading volume was approximately $208 million.
big picture
Amid global regulatory scrutiny of digital assets, led by the United States, the Web3 industry is rapidly evolving to drive mainstream adoption of blockchain technology by democratizing smart contracts. Additionally, smart contracts that can be deployed securely from different chains can engage billions of global users looking to scale their networks and operations.
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