Binance Launchpool, a new initiative designed to bring the decentralized finance (DeFi) experience to Binance users, is happy to announce its new project - CertiK Chain - a cross-chain protocol with security scoring and decentralized reimbursements for building secure dApps and blockchains.
CertiK Chain is a Delegated Proof-of-Stake (DPoS) blockchain built with the Cosmos SDK. It aims to act as the basis where blockchain infrastructure and decentralized applications can be built with confidence in security.
With native in-chain features including Security Oracle, CertiKShield Reimbursement Pool, and a hyper-secure programming language (DeepSEA), CertiK Chain is built to ensure the security of different types of blockchain products from development to post-deployment.
The CTK token is the native utility token of the platform used as gas consumption for smart contract operations, staking for network consensus, rewards for participating in the Security Oracle network, collateral and reimbursements for CertiKShield, as well as community voting for decentralized network governance.
In addition to the Lauchpool announcement, CertiK and Binance have committed 1,000,000 CTK to be used to fund a CertiKShield Reimbursement Pool for Binance Smart Chain, enabling audited BSC projects to become members to obtain protection against hacks and code malfunctions.
The project has raised 39.43MM USD from two rounds of private token sales, where 38.00% of the CTK total token supply has been sold at 0.77 USD / CTK and 1.90 USD / CTK.
During CertiK Chain participation in Launchpool, users will be able to stake their BNB, BUSD, or CTK tokens into separate pools to farm CTK tokens, starting from 2020/10/23 at 0:00 AM (UTC). Binance will list CTK at 2020/10/27 8:00 AM (UTC) and open trading for CTK/BTC, CTK/BNB, CTK/BUSD and CTK/USDT trading pairs.
"By developing CertiK Chain, a hyper-secure, cross-chain solution with security at its core, we hope to raise the standards of security across the entire space," said Professor Zhong Shao, CertiK Co-Founder and department chair of computer science at Yale University. "This high degree of trust and maturity is essential for enabling large-scale innovations like DeFi to get sustained growth, so they can truly flourish in the future".
“Binance and CertiK are committed to improving the level and quality of security adoption in the DeFi sector”, said Binance CEO and Founder, CZ (Changpeng Zhao). “We are excited to support Certik Chain through Launchpool, and in bringing their protocol to Binance Smart Chain (BSC).”
For more information about CertiK Chain, read the in-depth report provided by Binance Research.