Harmony Protocol (ONE) Marks Binance DEX Listing with Bonus Airdrop
ONE is the first IEO token to be launched directly on the Binance Chain, and starting with a listing on the decentralized exchange, instead of the central Binance market.
Harmony Protocol (ONE) will start trading on Binance DEX on June 1 as of 4:00 UTC, as this is the first Binance Launchpad token to be directly launched on the Binance Chain. The event will be marked with a bonus airdrop of 25 million ONE and 3,000 Binance Coin (BNB).
Unlike other IEO tokens that were listed on the centralized Binance exchange, ONE will start its activity on the decentralized marketplace, requiring holders to create Binance Chain wallets.
The airdrop promotion will last for five days and aims at bringing higher activity to ONE. Accounts achieving volumes of more than 100,000 ONE and holding more than 10 BNB at the end of the day will compete for a pool of 5 million ONE and 600 BNB each day.
In the case of ONE, the expectations are for a performance to match previous IEO tokens, which managed to recover to record prices. But the newly launched Binance DEX will have to prove it can generate adequate liquidity to achieve price discovery for ONE.
In the past weeks, Matic Network (MATIC) managed a significant price spike, rising from a post-IEO price of $0.003 to $0.03, later to slide back to $0.02. BitTorrent Token (BTT), the first Binance-based IEO, managed to gain from lows of $0.0007 to recent peaks of $0.0017. The assets remain relatively volatile, but the robust growth puts Binance-based IEOs as some of the best performers.
Binance Coin (BNB) has also received a boost from the recent IEO and DEX launches, reaching peaks above $35. Now, BNB has retreated during the late-week sell-off, sliding to $31.62. Currently, the Binance DEX volume is relatively small, at around $50,000 in 24 hours, a far cry from the $2.6 billion on the centralized exchange. But Binance Chain is growing its popularity, with 24 tokens already migrating, and the DEX has picked up the pace in the past few days.