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Binance lists DAI and de-lists EOS from P2P platform

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Major crypto exchange, Binance, announced that they will be adding DAI and removing EOS from their Peer to Peer (P2P) trading platform.

In the announcement, Binance stated that all EOS advertisements should be removed by 4:00 AM on November 27 and all EOS tokens should 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 platform for decentralized app development and is currently ranked 14 by market cap, losing a few positions over the past few years.

Although Binance did not specify a reason for the delisting of EOS, many have associated EOS with being a ghost chain, with hardly any ‘relevant development’ happening on the chain.

A research paper, examining the transactional statistics and scalability of blockchains, finds 95% of transactions on EOS were triggered by the airdrop of a valueless token.

Earlier this year, the crypto-based social media platform Voice was launched on a private version of the EOS Blockchain. While this platform was expected to bring real value to the EOS blockchain, Voice is still yet to be launched on the mainnet, which has frustrated many within the community.

Meanwhile, the value of DAI prices on Coinbase Pro recently escalated rapidly leading to the liquidation of 85.2 million DAI borrowed from Compound.

Reportedly, the cause of this was due to an Oracle exploit that led to the manipulation of DAI prices on Coinbase Pro.

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Samyuktha is a full-time journalist at AMBCrypto. Currently pursuing her Masters in Finance and Business Analytics, she is interested in cryptocurrencies, fintech, and blockchain technology adoption across various sectors.