Binance Alpha to Facilitate BEP20 Contract Swap for Multiple Network Token
Multiple Network reveals plans to replace contaminated MTP tokens and implement a systematic buyback after third-party market makers unlocked and sold tokens, with Binance Alpha supporting the BEP20 contract swap.
Fact Check
The evidence directly supports the statement. Source 2 explicitly states, 'Binance Alpha temporarily suspends AIO... trading... for a BEP20 contract swap to optimize token utility and cross-chain'. This confirms Binance Alpha facilitates BEP20 contract swaps. Source 4 further shows Binance Alpha managing multiple tokens ('three distinct Broccoli tokens'). The general context from other sources (e.g., Source 1, Source 3) confirms that contract swaps and cross-chain functionality for multiple tokens are standard practices within the broader Binance ecosystem, lending credibility to the specific claim.
Summary
Multiple Network has announced that the original MTP token supply was contaminated after third-party market makers unlocked and sold tokens. As a result, the project will replace all affected tokens and implement a buyback. Affected users on exchanges and on-chain will receive new MTP tokens at a 1:1 ratio. Binance Alpha will assist with the BEP20 contract swap, and trading platforms will halt MTP transactions at 10:00 UTC+8 for a snapshot.
Terms & Concepts
- MTP Token: The native token of the Multiple Network, which is undergoing a replacement and buyback due to contamination of its original supply.
- BEP20: A token standard on Binance Smart Chain that defines how tokens can be transferred and used, similar to Ethereum's ERC-20 standard.
- Token Replacement: The process of replacing an existing cryptocurrency token with a new version, often due to technical issues, token contamination, or a contract upgrade.