Equal (EQL) is in the finishing phase of its swap period, which will move tokens from Ethereum’s blockchain to that of Binance Coin. The developers of the browser extension have decided that the faster chain will lower transaction fees is a better match for their token, despite the centralisation drawback.
Perhaps more important than quick block finality and cheap transactions is the fact that this move will be quickly followed by a listing on the most popular decentralised exchange – Binance DEX. The listing was announced back in early June, when Equal’s token was still following the ERC-20 standard on the Ethereum blockchain.
The news got quickly noticed by traders who enjoyed a ride from a $400,000 market cap to $3,500,000 – a figure which is still remarkably low compared to that of other tokens enjoying the visibility and volume that Binance DEX provides.
On June 20 the token was delisted from IdEx due to the move, and a token swap event started shortly afterwards.
The developers behind the project have also packed the token with all the popular features that typically lead to price increases – staking incentives and periodic token burning. It does appear that a high token valuation is important to them, which is expected, considering that no ICO has ever been made for the token. The initial launch was done via an airdrop instead.
It is worth noting that whatever money the developers have made with their business decisions seems to have been efficiently utilised – the project is progressing according to its ambitious plan. The wallet provides a beautiful and user-friendly interface and it does simplify the access of new adopters to the decentralised economy. Practically all of its features have a heavy focus on user experience – the DApp store which features hundreds of DApps, as well as the upcoming one-click token swaps via an integrated exchange and credit card purchases.
For the time being, Equal has been impressing with solid work in the right direction – exactly the type of progress that the crypto community needs in order to expand and allow for further adoption. As for traders – the token will once again be tradable starting 4:00 AM (UTC) on July 4.