Binance’s decentralized exchange, Binance DEX, recently launched to much hype with a non-custodial integration of TrustWallet. Since then, the exchange has undergone a flurry of listings, from stablecoins to analogous tokens of public blockchains via its BEP standardized token contracts for Binance Chain.
Binance DEX is already considerably outpacing other DEXs in volume, attracting a normalized trading volume over $5 million in the last 24 hours. Couple that with more than 1.27 million monthly web visits, according to SimilarWeb, and it is evident that Binance’s DEX push is paying dividends so far.
The rise of Binance DEX has also come with a series of projects launching on the exchange, with Binance even announcing pegged tokens on its network, such as BTCB using the BEP-2 protocol standard that has been adopted by several projects.
In particular, TomoChain, the scalable public blockchain, has produced a bridge protocol using Binance’s BEP-2 standard to allow cross-chain swaps between the native TOMO token and TOMOB – the Binance DEX analog of TOMO. And the TomoChain team is moving forward with a trading competition following the success of their pegged listing.