The Mithril team has donated 20,000 Binance Coin (BNB) to Blockchain Charity Foundation (BCF). The tokens were donated hours before MITH began trading on Binance crypto exchange. According to the Malta-based exchange, the donation was in appreciation of the coin’s listing on their exchange.
Mithril is a social network that rewards its publishers and readers with MITH tokens. They can earn these tokens by carrying out various activities on the platform. Their reward can come after a like, share, or comment and these tokens can also be staked. In the same vein, they can be exchanged for other digital assets.
Binance Announces Donation of 20,000 BNB to Charity Foundation
Today, this ERC-20 utility token which has been trading on other exchanges since April this year was listed on Binance. Before it began to trade, it was announced that 20,000 BNB tokens would be donated to charity and so it was. This amount of tokens is currently worth about 165,000 dollars, and it also serves as the listing fee on the exchange.
Changpeng Zhao, Binance CEO, commented on this move on Twitter and gave an insightful meaning to the donation. He said that 100% of what was donated was meant to be the listing fee, but it will now be donated to charity. He also added that this changes the popular belief that the exchange demands millions before listing tokens.
Binance Charity Foundation Donates 100% go to End-Beneficiaries
Binance’s charity is known as Blockchain Charity Foundation (BCF). The BCF claims to give out 100% of what’s donated to its End-Beneficiaries. This is a non-profit organization and the first decentralized charity foundation in the world.
Other than Binance, many have applauded Mithril’s humanitarian act, but some have only looked at the impact of its listing at a time like this. This is a time where most cryptocurrencies have seen a significant decline in price. The fall in price is as a reason for Bitcoin Cash’s hard fork that was scheduled for today.
In line with that, a Twitter user said;
Poor #mithril holders, #binance listing while #btc being dumped. Ouch.
About MITH’s listing on the exchange, the CEO also tweeted that this donation dispels a particular rumor. The rumor was that a Binance representative had demanded 400 BTC in exchange for a coin’s listing. While responding, Binance pointed out that they don’t list “shitcoins” irrespective of whether 400BTC or over is paid. Instead, what they give more priority, is the quality of the project backing the coin.