[Newsflash] Binance Exchange Announces Support For The Zilliqa (ZIL) Mainnet Token Swap

Breaking: Binance Announces Support For The ZIL Mainnet Token Swap

As per an all-new blog entry published on the official Binance website a few hours ago, the trading platform will now be supporting the ZIL mainnet token swap starting 2019/04/22 0:00 AM (UTC). As a result of this latest development, all ZIL related deposits and withdrawals will now be suspended w.e.f the aforementioned time period.

Other Specifics To Bear In Mind:

• A representative for the premier crypto exchange announced that the firm will be handling “all technical requirements involved for any users holding ZIL in their Binance accounts.”
• Following the launch of ZIL’s mainnet, if users still choose to deposit ERC20 ZIL tokens into their Binance accounts, the trading platform will continue to process their token swap requests as usual.
• Lastly, another separate announcement will be made by Binance’s PR team after the ZIL mainnet swap has concluded (so as to inform users about their altered withdrawal rights).

About ZIL

For those of our readers who may not be aware of what Zilliqa is, it is essentially a crypto project that has been designed to make blockchain ecosystems faster and more scalable. To achieve its goal, Zilliqa makes use of a technology known as ‘sharding’ so as to streamline its “native consensus processes” (and thereby increase its core tx rate).

Last but not least, in order to make a name for itself within this burgeoning market domain, the folks over at Zilliqa have entered into partnerships with a number of big-name players such as Mindshare and Ethermon.