A piece of Good news awaits for both Red Pulse and Binance users. As, the Founder and CEO of Red Pulse, Jonathan Ha, announced integration with the new blockchain software system called ‘Binance Chain’. Binance developed the Binance Chain. Red Pulse is a market intelligence platform to cover China’s economy and capital market.
All Red Pulse phoenix (PHX) NEP-5 neo powered protocol tokens will automatically migrate to new Bep-2 “PHB” tokens, native to Binance Chain. These are then tradable on both Binance.com as well as Binance DEX. The announcement was made on Twitter.
Balancing The Conversion
Binance users who hold PHX on Binance.com will get their PHX tokens automatically migrated to PHB. Moreover, the Binance exchange will continue to support deposits of PHX and PHB, also withdrawals in PHB. Red pulse Total token circulating supply of PHX + PHB will remain constant. Hence ensuring the flow and transparency considering the market-driven token price and market cap.
The Redpulse.com platform will also continue to support the existing NEP-5 PHX token. As the Binance Chain continues to grow, Red Pulse will develop infrastructure on the BEP-2 protocol similar to what it has with neo powered protocol.
The Redpulse.com Phoenix platform users can deposit either PHB or PHX to the platform and earn staking rewards, and also withdrawal for both PHB and PHX.
Basically, the team strives to lead the development of an open source Python SDK for the NEO blockchain infrastructure and in a similar way, they will look forward to developing a Python SDK for the Binance Chain infrastructure.
The integration with the world’s two most prominent and actively used ecosystems tells how much Red Pulse’s Phoenix is actively preserved.