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KeyFi Is Launching Its Native Token on Binance Smart Chain

  • KeyFi will offer staking rewards and listing the asset on PancakeSwap, a BSC-based decentralized exchange.
  • KeyFi also announced that they will allocate one million KEYFI tokens to BSC.
  • A common library was added in KeyFi’s core application to help manage the integration development.

KeyFi is launching its native token on Binance Smart Chain (BSC) starting this March 28, 2021. KeyFi is the app-based platform for managing Decentralized Finance (DeFi). Meanwhile, Uniswap will still promote liquidity mining solely on Ethereum. This will then make KEYFI a true multi-chain token.

In line with its launching, KeyFi will also offer staking rewards and listing the asset on PancakeSwap, a BSC-based decentralized exchange.

In order for KeyFi users to continue receiving rewards once the V2 contract is released, they need to transfer their assets to the new V2 rewards contract.

All participants are said to be notified before the V1 contract ends. With the additional perks of early access to KeyFi Pro, it will soon be possible to stake KEYFI tokens directly.

Moreover, KeyFi also announced that they will allocate one million KEYFI tokens to BSC. This decision was based on the results of a governance vote. This makes BSC become more popular.

It is known that BSC is a low-fee blockchain, but due to its higher than usual transaction fees on the overcrowded Ethereum network, it has gained a lot of attention to people.

Besides the launching of KeyFi on BSC, the platform’s core application was also improved. A common library was added to help manage the integration development. This is in line with the KeyFi Core and its soon-to-be-released KeyFi Pro app.

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Britney James

Britney is a market analyst who covers stories about the cryptocurrency world. She holds a Business Administration Degree in Finance and aims to let the readers understand crypto from a beginner perspective.

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