BankSocial Launches on Binance Smart Chain
DALLAS - July 2, 2021 - ( Newswire.com )
BankSocial™, the first peer-to-peer social consensus lending platform, secured by the blockchain, has incorporated the Binance Smart Chain into its existing $BSOCIAL ecosystem. With more than 10 million daily users, the Binance Smart Chain expands global access to the BankSocial community while building value for current $BSOCIAL token holders. Utilizing first-of-its-kind advancements in smart chain technology, BankSocial™ anticipates issuing its first loans in 2022.
Live trading on Pancake Swap, a Binance Smart Chain-based decentralized exchange, is now underway. Additionally, $BSOCIAL trading amongst Ethereum-based decentralized exchanges such as Uniswap and 1inch, and centralized exchanges such as Digifinex, Hotbit, Bilaxy, and Bibox, is also in full swing. All existing Ethereum-based tokens and trading platforms will continue to be a part of the $BSOCIAL ecosystem, with the Binance Smart Chain adding to global daily trading volume.
John Wingate, CEO of BankSocial, stated, “the Binance Smart Chain is one of the most popular trading platforms used by crypto enthusiasts outside of the United States and Europe and will provide millions of additional daily users with the opportunity to trade $BSOCIAL tokens. One of the primary advantages of the Binance Smart Chain is that it allows for smaller trades with lower transaction costs, reducing barriers to entry for many individuals. By adding to our existing liquidity pool, trading on the Binance Smart Chain will help us achieve the objectives on our Roadmap faster and has brought us one step closer to issuing our first asset-backed loans.”
BankSocial’s innovative approach to lending aims to create a financial structure where individuals can fund loans for other individuals and share the interest. $BSOCIAL token holders who choose to stake their tokens into the BankSocial™ lending system will receive proportional distributions of the interest collected from each loan. In contrast, all token holders continue to build passive value by purchasing and selling $BSOCIAL tokens.
More information about the adoption of the Binance Smart Chain into the $BSOCIAL ecosystem can be found at http://support.banksocial.io. BankSocial™ is a peer-to-peer social consensus lending platform that revolutionizes the way the blockchain is used for lending. For more information about BankSocial™, $BSOCIAL tokens, and other BankSocial™ products, visit https://banksocial.io.
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Original Source: BankSocial Launches on Binance Smart Chain