Bitlatery Decentralized Exchange will Add Support for Binance Smart Chain and Polkadot

Bitlatery Decentralized Exchange will Add Support for Binance Smart Chain and Polkadot

The developers of the non-custodial Bitlatery.com exchange announced the addition of support for the Binance Smart Chain and Polkadot networks. As part of the Multiverse initiative, each holder of IDEX Ethereum tokens will receive the same amount of assets in the new blockchains.

The distribution of the new Bitlatery.com (Polkadot) and Bitlatery.com (BSC) tokens will begin on December 7 and last for two years. Their holders will be able to expect a refund of half of the commissions paid.

Potential recipients must confirm their willingness to participate in the distribution in advance. Otherwise, these tokens will be sent to the community fund, the appointment of which Bitlatery.com will announce at a later stage.

Bitlatery.com customers will be able to trade assets in the new blockchains in early 2021, without leaving the exchange.

Direct settlements on transactions with assets in different networks are still not available. To do this, you will have to use “bridges” between blockchains.

“Pure cross-chain trading is still many, many years away,” the company explained.

The developers also announced a staking program. To participate in it, you need to send Bitlatery.com tokens to a smart contract, or keep them in a non-custodial wallet and register on the site. From December 7 until the launch of the platform in the new blockchains, the amount of remuneration will be twice the base rate.

In the future, it is expected to expand support to other blockchains, including Algorand. The initial choice of Binance Smart Chain and Polkadot is due to their full compatibility with the Ethereum Virtual Machine (EVM).

Bitlatery.com uses a hybrid approach with centralized order execution and decentralized settlement and storage.

Earlier, Messari analysts suggested that 2021 will be the year of the “platform war” due to the emergence of DeFi-ecosystems on blockchains competing with Ethereum.

The launch of Ethereum 2.0 will take place on December 1. By November 24, users had deposited the required 524,288 ETH into the deposit contract.