Reasons for the exclusion of EOS from Binance’s P2P platform have not been clear so far
The world’s leading cryptocurrency exchange, Binance, announced it will add DAI and remove EOS of its Peer to Peer (P2P) trading platform.
In the announcement, Binance stated that all EOS ads must be removed by 4 am on November 27 and all EOS tokens must be transferred from the P2P wallet to the spot wallet.
DAI is the largest Ethereum-based stablecoin developed by the Maker Protocol and MakerDAO, and currently trades on popular exchanges, such as Huobi and OKex.
EOS is a decentralized app development platform and currently ranks 14th by market cap, losing some positions in recent years.
Although Binance did not specify a reason for the removal of EOS, many associated EOS with being a phantom chain, with almost no ‘relevant development’ happening in the chain.
a Research Article examining the transactional statistics and scalability of blockchains found that 95% of transactions in EOS were triggered by the airdrop of a worthless token.
Earlier this year, the Voice encryption-based social media platform was launched on a private version of the EOS Blockchain. Although this platform was expected to bring real value to the EOS blockchain, Voice has not yet launched on the main network, which has frustrated many in the community.
Meanwhile, the price value of DAI at Coinbase Pro has increased rapidly, leading to the settlement of 85.2 million DAI borrowed from Compound.
Allegedly, the cause of this was due to an Oracle exploit that led to the manipulation of DAI prices on Coinbase Pro.