ULOG: Steem-backed Dollar (SBD) and SMT tokens in Binance Now More Possible

The internet is abuzz with news that Binance will be donating all of its listing Fees to charity. I think this is a very generous initiative on the part of the company and would like to commend Binance's CEO, Chengpeng Zhou (CZ) for initiating such a kind gesture to bring back something to the community. While that news is delightful it is not the reason why I am writing this Steem blog-post. CZ also stated that developers are now free to determine by THEMSELVES how much they want to pay as LISTING FEE. The key takeaway of this statement is that the amount of developers are willing to pay to have their project listed is not in anyway a guarantee of getting listed in the exchange. This means that no matter how much or less the developers pay will no way affect their listing chances. He emphasized that listing in Binance rest solely in the quality of the project as they want to avoid listing weak projects that does not add value in the crypto space.

Photo by rawpixel on Unsplash

With that being said I think this is a great opportunity to have Steem-backed Dollar (SBD) listed in Binance as it removes a key barrier to entry to Binance's exchange: "exorbitant listing fees" which I think can go as high as 2 million USD (106 Million Philippine Pesos). The other liquid currency of the Steem platform is of dire need for another major exchange where it can be traded and perhaps can stimulate a more positive price movement for SBD and give an additional venue where it can be traded. Having more options is good as it enables users to choose where they want to trade and it also enables users to have alternatives when services are unavailable in other venues.

Photo by rawpixel on Unsplash

This is also great news to Smart Media Tokens (SMT) developers who wants to have their coins listed in a major exchange like Binance as there are no more exorbitant listing fees and developers has the freedom to decide how much they are willing to pay without lowering their chances of being listed. I am looking forward to seeing SMT projects in Binance as it has become a status symbol of sorts to any projects listed in Binance as they have to go through a rigorous listing process. A sort of stamp of legitimacy in the crypto space. One representative from Binance states that it is much easier to get accepted in Harvard than getting listed in Binance.

Imag Source

The developers of SMT projects have around 3.5 months to go before SMT officially launches and I think it is a pretty good idea to start preparing where their tokens will be traded. I am pretty sure that Binance will support the Blockchain upgrade of Steem when SMT comes out. I think they should start preparing the necessary listing requirements now to get into a site like BInance. I am not sure if the window for this opportunity will last but so long it is open I think SMT developers should exploit this opportunity.

For end-users like me, just in case anyone missed it, a lot of these SMT projects have already started to do some airdrops to the Steem community. My personal favorite is Steemhunt as their project is one of the easiest way of getting the free SteemHunt "Hunt" airdrops. You might want to check out more about it in a blog post of a fellow steemian here. Another project that I am really excited about is Teardrops SMT which will be a token that will be utilized across the different projects of our very own @surpassinggoogle, who is by the way the founder of the condenser that I am currently using ulog. Not much has been said about the Teardrop SMT but I am sure we will get more information about it in the future from sir Terry.

It would be a great time now to start looking into these SMT projects and get the Free SMT tokens early on. If there is one thing that I can share with you being a crypto-bounty hunter is that it always pays to be one of the "early birds."

I guess that is it for now my friends I hope you like my ulog today. Cheers and have a wonderful day ahead of you!

---

Please support one of the best witnesses out there- @surpassinggoogle founder of Ulogs, Steemgigs and Teardrops SMT. You can vote directly by clicking on the link below.