A trading pair will be created on Binance.com between the pegged token and the native coin, e.g., BTCB/BTC.
Large buy orders will be maintained on the trading pair on Binance.com, with a price spread of around 0.1%. This provides a way for anyone to convert from the pegged token back into the native coin on Binance.com. If this buy order is filled, a new order will be placed while an equal amount of funds will be deposited from the reserve address into Binance.com. The sum of the buy order and the funds on the published reserve address will be bigger than the total supply of the pegged token, which would theoretically ensure 100% backing.
All images, branding and wording is copyright of Bitcoin BEP2. All content on this page is used for informational purposes only. CryptoSlate has no affiliation or relationship with the coins, projects or people mentioned on this page.
Report Project › Bitcoin BEP2
Your message has been sent. We will get back to you as soon as possible. In the meantime, please connect with us on social media.
You are about to leave CryptoSlate in order to visit a cryptocurrency or ICO website. This link is provided solely for informational purposes and is not an endorsement in any way. We recommend that you exercise extreme caution and consult a registered investment advisor before taking any action.