Cryptocurrency exchange Binance published a blog post on May 30, 2019, stating that it would airdrop 3,000 BNB coins to celebrate the successful completion of the Harmony (ONE) initial exchange offering (IEO) on Binance Launchpad.
The announcement by the exchange came a few hours after Harmony announced that it would airdrop 25 million ONE tokens on Binance’s decentralized exchange (DEX) as it looks to become the first project to trade on both Binance exchange and Binance DEX at the same time.
Harmony (ONE) Gets Listed on Binance DEX
The recently concluded Harmony IEO on Binance Launchpad was nothing short of a success for both parties. While Harmony was able to sell all of its 1.58 billion ONE tokens within a few minutes, Binance Launchpad increased its tally of the number of successful IEOs conducted to date to five.
In a Medium post published May 30, 2019, Harmony announced that its proposal to get listed on Binance DEX had been approved by the Binance Chain validator network. To celebrate the occasion, Binance will airdrop 25 million ONE tokens. These tokens will be airdropped to Binance DEX users in the next five days, the post reads.
The team added that it would launch a ONE/BNB trading pair on Binance DEX on June 1, 2019, along with the listing of the token on Binance.com.
With regard to the eligibility for ONE token airdrop, the blog post reads:
“All Binance Chain addresses that reach a trading volume of 100,000 or more Harmony (ONE) tokens (including buys & sells) on Binance DEX during each full day, while also holding a minimum of 10 BNB in their address at the end of the day, will equally share a pool of 5,000,000 ONE and 600 BNB tokens. The recorded trading volume on each address will reset daily at 0:00AM.”
The process will repeat over the course of five days with a total of 25 million ONE and 3,000 BNB tokens to be airdropped.
Can Binance DEX Trump Centralized Exchanges?
The announcement regarding the launch of the Binance DEX surfaced in April 2019, after the exchange’s CEO, Changpeng Zhao, tweeted that he had burned five million ERC-20 BNB tokens.
Binance DEX has generated a significant amount of interest from the cryptocurrency community as it looks to do away with the cons of centralized exchanges that have, on numerous occasions, resulted in hacks and other unfortunate incidents.