Crypto trading platform FXT announced the launch of a BEP-20 token after its ERC-20 token saw an impressive 1500% growth since its launch in January 2021.
The new token, which is based on the Binance Smart Chain (BSC), is intended to reduce transaction costs and processing times compared to its Ethereum-based predecessor. In addition to increasing the overall performance of the altcoin in terms of efficiency and utility, FXT intends to list its token on multiple crypto exchanges to make it available worldwide.
Given FXT’s lower price threshold and a history of massive ROI, FXT expects a massive influx of global investors and believed that the BEP-20 token would “replicate the success of its variant – ERC-20 token”.
While more details are yet to be made public, FXT would ideally use the ICO funding to scale their offerings and prepare for replicating similar token launches in the future.
Connected: ERC-20 tokens make up around 50% of the entire ETH blockchain
Since the introduction of the Ethereum (ETH) blockchain, ERC-20 tokens have reached the top positions in market capitalization performance. Recently, Messari CEO Ryan Selkis highlighted that ERC-20 tokens now account for nearly 49% ($ 25.6 billion) of total assets within the Ethereum blockchain.
Related: Immunefi partners with Binance Smart Chain on bug bounties to secure BSC projects
Complementing the ongoing BEC-20 rollout, Immunefi’s latest partnership with Binance Smart Chain will reward Whitehat hackers to discover vulnerabilities in BSC-hosted projects. As part of an effort to improve infrastructure security, Immunefi has reportedly paid over $ 3 million in bug premiums.
At the other end of the spectrum, BSC projects continue to deal with their fair share of exploits. As Cointelegraph recently reported, BurgerSwap was exposed to a $ 7.2 million exploit that included the loss of BURGER tokens, wrapped BNB (WBNB) and tether (USDT).