The world’s largest cryptoactive exchange Binance is listing Mina and Raydium as its innovation zone.
In addition to MINA and RAY, Binance currently has several other tokens listed in the Innovation Zone.
The exchange intends to open trades for MINA / BTC, MINA / BNB, MINA / BUSD and MINA / USDT. Other pairs now available in the dedicated trading zone include RAY / BNB, RAY / BUSD and RAY / USDT.
All mentioned pairs are expected to start trading today, August 10th, at 06:00 AM (UTC). The platform is already accepting MINA and RAY deposits from users in anticipation of trading. The same users can expect to use the withdrawal services available for tokens from August 11 at 06:00 UTC. Binance is not charging a listing fee for Mina and Raydium.
The exchange provides the Innovation Zone as a dedicated trading space for new and innovative tokens. Compared to regular tokens, tokens in Binance’s innovation zone pose a greater risk to traders and have greater volatility. There are potentially greater gains to accumulate, as well as worse losses to incur, depending on how the market pendulum swings. Overall, Binance now lists over 500 virtual cryptos and tokens, with an active user base of around 13.5 million. Binance’s decision to list Mina and Raydium opens the two assets for further access.
Mine (MINA) is a layer 1 blockchain protocol designed to negate the computational requirements to run dApps more efficiently. It’s known as the lightest blockchain in the world, with a 22kb size that doesn’t grow regardless of usage growth. This size is almost entirely insignificant compared to Bitcoin’s 300GB blockchain.
In addition, Mina prides itself on balanced security and decentralization, used for network transactions, picket rewards and block production. The platform moved from Coda Protocol to Mina in October 2020, with MINA as its native utility token. Currency is a utilitarian currency as well as a medium of exchange.
Raydium (RAY) is an automated market maker (AMM) and liquidity provider based on the Solana blockchain. The project has a pioneering advantage as an AMM within the decentralized Serum exchange (DEX). Here, it facilitates quick trades, income earning opportunities, shared liquidity and new project launches. Additionally, Raydium acts as a bridge for projects looking to expand to Solana and Serum, and has a native utility token called RAY.
Unlike any other AMM, Raydium provides chain liquidity to a central order book. The implication of this is that Raydium’s LPs have access to Serum’s entire order flow and liquidity.
The Raydium protocol aims to establish and lead the way in AMMs and liquidity providers in Serum. He hopes to do all this while harnessing Solana’s power to revolutionize decentralized finance (DeFi)
Other listings in Binance Innovation Zone
In addition to MINA and RAY, Binance currently has several other tokens listed in the Innovation Zone. This includes QuickSwap (QUICK), RAMP (RAMP), Vai (VAI), Shiba Inu (SHIB) and Polkastarter (POLS).
The platform also offers more conventional digital currencies such as Bitcoin (BTC), Ether (ETH), Litecoin (LTC), and Dogecoin (DOGE).