Disclaimer: As of March 5, 2024, the information presented in this report reflects the latest data available at the time of writing. Due to the dynamic nature of the cryptocurrency market, some data points may change over time.
Binance-Peg EOS (EOS)
Project Introduction and Brief Summary:
Binance-Peg EOS (EOS) is a tokenized version of the native EOS token on the Binance Smart Chain (BSC). It aims to provide users with a more efficient and cost-effective way to trade EOS on the BSC network, leveraging its faster transaction speeds and lower fees compared to the native EOS blockchain.
Project Release Date & Token Release Date:
Binance-Peg EOS does not have a specific release date as it’s not a new project but a pegged version of an existing token. The original EOS token was launched in June 2018.
Market Capitalization:
- No data available on CoinGecko or other major cryptocurrency data aggregators due to being a pegged token.
Current Price:
- $0.742 (as of March 5, 2024) (https://www.coingecko.com/en/coins/binance-peg-eos)
Exchanges where the cryptocurrency is currently listed:
- Binance (https://www.binance.com/en/how-to-buy/eos)
- PancakeSwap (https://pancakeswap.finance/info/tokens/0x56b6fB708fC5732DEC1Afc8D8556423A2EDcCbD6)
- Others (listed on CoinMarketCap: https://coinmarketcap.com/community/articles/638092ed4cc2651b5cbf8eea/)
Competitors:
- Wrapped EOS (WEOS): Similar pegged version of EOS on Ethereum blockchain (Market Cap: $30.77 Million)
- Telos (TLOS): Alternative smart contract platform aiming for high scalability and governance (Market Cap: $123.13 Million)
- Wax (WAXP): Blockchain platform focused on online video games and virtual items (Market Cap: $41.47 Million)
Use Cases:
- Functioning as a medium of exchange on the BSC network.
- Enabling participation in BSC-based DeFi applications that accept EOS as collateral.
- Potentially serving as a bridge between the EOS and BSC ecosystems.
Technology:
- Binance-Peg EOS leverages the functionalities of the BSC network, which utilizes a Proof of Stake Authority (POSA) consensus mechanism.
Smart Contracts and Audits:
- Binance-Peg EOS utilizes the smart contract deployed by Binance to peg the value of the token to the native EOS token.
- Audit reports for the pegging mechanism are not publicly available on the Binance website.
Investors or Partners Involved (within the last 90 days):
- No recent news regarding specific investors or partners directly associated with Binance-Peg EOS was found during the research period.
Amount of Money Raised during the Presale Stage/ICO/Seed Rounds:
- Not applicable, as Binance-Peg EOS is not a new project with an initial coin offering (ICO).
Token Distribution %:
- Not applicable, as Binance-Peg EOS directly reflects the supply of the native EOS token.
Token Economics and Use Cases:
- Binance-Peg EOS inherits the tokenomics of the native EOS token, with a total supply of 1,000,000,000 EOS.
- Its primary use case on the BSC network is to facilitate trading and participation in DeFi applications, similar to the native EOS token on its own blockchain.
Roadmap:
- As Binance-Peg EOS is not an independent project, it does not have its own roadmap. Its development is directly tied to the advancements of the BSC network and the native EOS token.
Team Members:
- Not applicable, as Binance-Peg EOS is a derivative asset and not an independent project with a dedicated team.
References:
- Binance Academy: https://academy.binance.com/en
- CoinGecko: https://www.coingecko.com/en/coins/binance-peg-eos
- CoinMarketCap: https://coinmarketcap.com/community/articles/638092ed4cc2651b5cbf8eea/
Additional Notes:
It’s important to remember that Binance-Peg EOS inherits the inherent risks associated with the native EOS token and the BSC network. Users should conduct thorough research and due diligence before considering any investment or interaction with this token.
