Binance has reportedly created ONT-33D – a token with a pegging ratio of 1:1 to ONT coins and will be facilitated on the blockchain platform of the firm. 

Specifically, the new ONT-33D token is designed upon Binance’s blockchain and is controlled by BEP2 – a particular series of parameters, as revealed by Binance. 

Every ONT-33D token is pegged to one ONT coin, and theoretically speaking, the method will help maintain the price of the token to be equivalent to the ONT tokens entering trading activities across the open crypto market. 

Traditionally, the normal traveling route for ONT coins is on Ontology’s own main blockchain, rendering them unsuitable to be facilitated on Binance’s decentralized exchange (DEX), since they adopt different blockchains to run their operations. 

The development will reportedly provide any individual in possession of ONT with features of a decentralized exchange, per Binance’s representative. 

Binance also released Bitcoin BEP2 (BTCB) back in June 3 years ago, with every token holding a backing of Bitcoin (BTC).

“Many more DEX services will launch in the future. For example, Ontology will add a node staking feature soon, expecting to integrate it with the Binance DEX and enabling ONT holders to have full control over their assets while participating in ecosystem governance.”