Binance Review, Month 30: 10x the Future
Binance Launchpad––Binance’s token launch platform for transformative blockchain projects––has announced support for its first project of 2020, WazirX––India's most trusted bitcoin exchange with the world’s first auto-matching P2P (peer-to-peer) engine. WazirX’s token sale on Binance Launchpad will begin on February 3, 2020, at 00:00 UTC, with a lottery-format ticket claim.
WazirX is focused on solving the fiat-to-cryptocurrency conversion problem and simplifying the process of depositing and withdrawing fiat. In India, over 200,000 local users are able to deposit and withdraw cryptocurrencies, as well as use WazirX’s unique peer-to-peer solution to cash in and cash out cryptocurrency to Indian rupees with ease and speed.
“In 2020, Binance Launchpad continues to pursue its mission to support innovative crypto and blockchain startups. Despite the fact that the crypto industry is actively developing, сonverting fiat into crypto, and vice versa, still remains a significant barrier to furthering crypto adoption. The WazirX team has found an effective solution to this problem by developing a unique P2P engine,” said Binance CEO and Founder, CZ (Changpeng Zhao). “The WazirX token sale on Binance Launchpad will enable WazirX to introduce its technology outside of India and allow the Binance community, and beyond, to learn about and support the WazirX team.”
“WazirX P2P has tremendously helped India participate in the crypto revolution. We’re determined to help onboard millions of people to crypto by solving the global fiat to crypto problem with the world’s first auto-matching P2P engine,” said Nischal Shetty, WazirX Founder and CEO. “WRX helped WazirX attract all the early crypto adopters in India, and currently, it’s the most popular exchange token in the country. The IEO of WRX will help us solve the fiat to cryptocurrency conversion problem globally for many more countries.”
"Fiat on-ramps play a critical role in deciding the size and adoption of cryptomarket. Binance has all the major traders in the world and WazirX has tried and tested technology for next-generation peer to peer exchange, together we can drive mass adoption across the globe by solving fiat ramps," said Siddharth Menon, WazirX COO.
In addition to its P2P service, WazirX allows users to trade more than 80 digital assets on its platform, including Bitcoin, BNB, Bitcoin Cash, Litecoin and Dash. Following this Launchpad token sale and since its acquisition by Binance in November 2019 while operating independently, the WazirX team will expand further into the markets of other developing countries where problems similar to India are observed.
WazirX’s native token, WRX is the utility token forming the backbone of the WazirX ecosystem. During WazirX launch in March 2018, WRX tokens were distributed to early users to involve them in building and growing WazirX. To the holders of WRX, the project team intends to provide various benefits, such as trading fee discounts, WRX trade mining (through which you can unlock and earn WRX tokens by performing trades), paying for margin fees, and others.
Binance Launchpad continuously adjusts its system to provide additional fundraising features and improvements on the blockchain in the best interest of its community. In 2019, eleven projects were hosted on Binance Launchpad, reaching more than 100,000 users and raising over USD$56 million in funds total.
Learn more about WazirX in Binance Research’s in-depth report: https://research.binance.com/projects/wazirx
Stay tuned for the latest updates via Twitter at @Binance and WazirX’s official Telegram: https://t.me/wazirx and Twitter: https://twitter.com/wazirxindia
About WazirX
Launched in 2018, WazirX is India's largest and most trusted cryptocurrency exchange with more than 200,000 app downloads with an average rating of 4.4. They have recently gone global. WazirX also launched the world's first auto-matching P2P (Peer-to-Peer) engine to help traders to convert Indian Rupees to crypto and vice versa. Today, it is the simplest, fastest and most-used method to deposit or withdraw Indian Rupees in India. WazirX's latest unique feature, Smart Token Fund, helps crypto investors find expert traders, and let them manage their cryptocurrency portfolio. To learn more about WazirX, visit: https://wazirx.com/
About Binance Launchpad
Binance Launchpad is the exclusive token launch platform for entrepreneurs to bring the most transformative crypto projects to life, with the help of Binance users around the world. Projects accepted to launch on Binance Launchpad will have greater access to resources and support from across the Binance ecosystem.
About Binance
Binance is a blockchain ecosystem comprised of several arms to serve the greater mission of blockchain advancement and the freedom of money. The Binance ecosystem is comprised of Binance Exchange (the leading global cryptocurrency exchange), Labs (venture capital arm and incubator), Launchpad (token sale platform), Academy (educational portal), Research (market analysis), Charity Foundation (blockchain-powered donation platform and non-profit for aiding in sustainability) and Trust Wallet (Binance’s official multi-coin wallet and dApps browser), as well as BNB Chain, a blockchain software system developed by Binance and the community. For more information, visit: https://www.binance.com
Cryptocurrency investment is subject to high market risk. Binance is not responsible for any of your trading losses. The opinions and statements made above should not be considered financial advice.