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Nexybit, a revenue-sharing mining cryptocurrency exchange, lists the Binance Exchange Coin(BNB) on November 9th. Binance Coin(BNB) is available in the three most popular cryptocurrency pairs BTC, ETH, and USDT.
The Binance Coin, a coin issued by the Binance Exchange, is within the top 10 most traded cryptos according to CoinMarketCap, following a very successful TGE. Exchange Coins such as BNB are becoming more widespread.
The Binance Coin cannot be exchanged for fiat money because it is only possible to exchange cryptocurrency. Users first need to buy the Binance Coin on the Binance exchange, users who will recieve a discount on the commission when they buy other cryptcurrencies such as Bitcoin. The tokenomics structure encourages users to trade more within the Binance Exchange.
Nexybit also launched their own Exchange Token, the Nexybit Token(NXY). The largest difference with Binance Coins is the concept of mining and reward. The main revenue of crypto exchanges come from Transaction Fees. Everytime a user conducts a transction, they also get a Nexy(NXY) Tokens, this process of trans-fee coin generation is called “Token Mining”.
In addition, if you have a Nexy(NXY) token, you will receive a portion of the Exchange Revenue, in proportion to the amount of NXY Tokens you hold. This is based on Dutch auction method. Eventually, as the revenue of the exchanges increase, the more Nexy(NXY) tokens users have, the more compensation users will receive.
|Classification||Date of first listed||Token type||Trading||Mining||Reward|
|Binance(BNB)||July 8th, 2017||ERC-20||o||x||x|
|Nexybit(NXY)||Oct 22nd, 2018||ERC-20||o||o||o|
Nexy(NXY) Tokens launched their pre-mining service on October 10th, 2018 and surpassed a daily trading volume of 200M USD, thereby the topping the daily global exchange rankings. Nexybit is also partnered with the largest mining exchange in South Korea. Coinzest(COZ), a mining exchangem, has entered a cross-listed business agreement(MOU) with Nexybit, to create the world’s first cross-exchange listing alliance business model. Relevant communities and industry stakeholders are evaluating this positively and look forward to it’s impact.
Learn more about the Binance Coin (BNB) and events can be found at Nexybit web site.