The Loki team is thrilled to announce that we will be joining the Binance ecosystem by creating B-Loki token on the Binance Chain! The Binance Chain blockchain has been specifically engineered to provide a smooth and fast DEX experience for members of the Binance community through the decentralised exchange feature developed on top of Binance Chain. Receiving positive votes from all Binance DEX validators will allow users to trade Loki on the decentralised exchange and will provide an additional onramp for users wanting to get Mainnet Loki. Loki as it currently exists on the Loki Mainnet won’t change, and will always be our main focus.
We’ll also be supporting the creation of Loki-to-Binance ‘bridges’ which will allow for the deposit and withdrawal of Mainnet Loki in exchange for B-Loki on the Binance Chain. Users will be able to exchange their Loki for trading purposes and move it back to mainnet Loki when they want to stake or use other privacy features. We’ve reached out to some trusted long-term community members to run these bridges and are helping them develop a secure and reliable system for exchanging Mainnet Loki with B-Loki.
We’re also considering a plan to develop a system which would allow users to exchange their Loki between the chains without requiring a trusted intermediary like Binance.com or the Bridges. If this is implemented, Service Nodes would be able to maintain a working knowledge of the B-Loki token on the Binance Chain, and would be able to authorise the locking and unlocking of Loki, and the minting and burning of B-Loki on the Binance Chain in a decentralised way.
We’re super excited about our upcoming product launches later this year. The Loki Messenger alpha will be release on the mainnet in July, and we believe that this will mark the beginning of the next phase for the Loki Project.
In our new efforts to start climbing the adoption curve for Loki’s products, we want to ensure that we are doing what we can to provide the best experience for the new users we expect to gain from this next phase. We hope that supporting the trading of Loki on the Binance Chain/Dex will add to the growing list of integrations and features that we can offer.