Binance and Huobi Prepare to Open Trading in SKALE Network (SKL) Token
The two largest cryptocurrency exchanges today announced their readiness to open trading with their own token of the SKALE Network (SKL) project.
Binance will launch SKL / BTC, SKL / BUSD and SKL / USDT on December 1 at 04:00 UTC. Huobi will also add SKL / USDT, SKL / BTC, and SKL / ETH pairs on December 1, but did not specify the start time, stating that it will open them once it has received sufficient deposits. Trading start date coincides with the first SKL token unlocking.
In September, SKALE raised $ 5 million through a token sale using Ethereum’s ConsenSys Ethereum platform Activate, an anti-speculation platform. Investors then prepared for an investment of $ 57 million, but the project could not accept more than the indicated amount due to regulatory restrictions in Liechtenstein, where its developer NODE Foundation is located..
SKALE is a Proof-of-Stake consensus network with the ability to process thousands of transactions per second and low fees. It is compatible with the Ethereum blockchain and will take some of the load off it. The developers claim that more than 50 projects, including representatives of the decentralized finance (DeFi) sphere, are already creating and testing products on their infrastructure. SKALE staking was launched on October 1 and immediately attracted more than $ 78 million in assets.
According to Crunchbase, the amount of funds raised by SKALE Network since 2018 amounted to $ 22.1 million.The project’s investors are Arrington XRP Capital, Multicoin Capital, ConsenSys Ventures, Winklevoss Capital, Hashed and others..
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