Binance Launchpool unveils its new project titled Certik Chain. This new innovation is developed to bring the DeFi experience for its users. This project is a cross-chain protocol along with security scoring and decentralized reimbursement to develop safe dApps and blockchains.
Let’s peek into the detail of the project. This project is a Delegated Proof-of-Stake (DPoS) blockchain built exclusively with the Cosmos SDK. It is said that it shall act as the base to provide full security where these dApps and blockchain infrastructure are developed.
During the participation in this launchpool, customers can stake their BNB, BUSD, or CTK tokens in different pools to farm their CTK tokens. This stake shall commence from 2020/10/23 at 0:00 AM (UTC).
As per the report, Binance shall list CTK at 2020/10/27 8:00 AM (UTC) and then open staking for different pairs including CTK/BTC, CTK/BNB, CTK/BUSD, and CTK/USDT.
CertiK Chain involves certain features such as security oracle, CertiKShield Reimursement Pool, and also a hyper-secure programming language (DeepSEA). The above qualities of CertiK Chain are appropriate to ensure strong securities to build different blockchain products from development to post-deployment.
Binance CEO and Founder, CZ states “Binance and CertiK are committed to improving the level and quality of security adoption in the DeFi sector. We are excited to support Certik Chain through Launchpool, and in bringing their protocol to Binance Smart Chain (BSC).”
In addition, Binance and Certik promise 1,000,000 CTK to finance a CertikShield Reimbursement Pool for Binance Smart Chain. This shall allow audited BSC projects to be a member in order to have protection against code malfunction and hacks going around.
The project raised 39.43MM USD from just two rounds with the sale of private tokens. To be specific 38.00% of the CTK total coin supply is sold at 0.77 USD/CTK and 1.90 USD/CTK.
Both CertiK and Binance teams are hoping to raise standards of security in the blockchain system. Moreover, to enhance the growth of DeFi projects it needs lots of maturity and a high degree of trust from the users.
Let’s wait and watch for the next step and stay tuned to get the latest updates.