Binance DEX (Decentralised Exchange) now lists CanYaCoin (BEP2 $CAN) and opens trading for the CAN/BNB trading pair.

CAN/BNB pair listed on Binance DEX

CanYa is proud to announce that $CAN is listed on Binance DEX — a decentralised exchange running on the Binance Chain — and trading is open for the CAN/BNB pair.

We are excited to join the Binance DEX community and continue our Binance Chain Migration. DEXs are an important step forward for cryptocurrency (asset) security and trading freedoms for all users. User guides for operating with the Binance DEX can be found at the Binance Academy.

Swapping Tokens

The CanYaCoin conversion from legacy Ethereum-based (ERC-20) tokens to Binance Chain (BEP2) tokens takes place on Binance.com.

The procedure is simply:

Deposit ERC-20 tokens to an ETH address on Binance.com

Withdraw BEP2 tokens to a Binance Chain address

For detailed instructions on how to swap your $CAN tokens, please check out our Token Swap Guide.

For instructions on how to swap your ERC20 tokens to BEP2, please follow this guide

A world with two $CAN tokens

In the transition from Ethereum (ERC-20) to Binance Chain (BEP2), there will be two types of CanYaCoin ($CAN) in existence.

It is important to note that the maximum supply of $CAN will not change, you can only get BEP2 $CAN by trading out your ERC-20 $CAN (1:1 conversion).

Thankfully, the wallet addresses for are not compatible and this will save a lot of heartache with accidentally burning $CAN by sending to an incorrect wallet.

HINT:

Binance Chain addresses start with ‘bnb…’

Ethereum address start with ‘0x…’

Continuation of Legacy Ethereum (ERC-20) tokens

All existing exchanges and services will continue to accept ERC-20 $CAN until a point where BEP2 $CAN is the primary token powering CanWork and the CanYa ecosystem.

Initially, BEP2 $CAN will only be suitable for storing and then staking via the upcoming DAO & dAppNodes. Once a better user experience for CanWork and its associated dApps has been built on Binance Chain we will phase out ERC-20 $CAN.

The phase out of ERC-20 $CAN will be well documented and coordinated by the CanYa Team, there is no time pressure and the conversion can be done whenever you are comfortable.

There is a lot of work to do to achieve this but the reward of increased user experience and hence greater user adoption is worth the effort!

About CanYa

CanYa has developed a decentralised freelancing platform, CanWork that allows users to book and hire digital services from providers all around the world with no platform fees — compared to 20–30% for traditional platforms. There is only 1% transactional fee for cryptocurrency remittances.

CanYa is about empowering digital freelancers to earn more from each job, made possible through the power of the CanYaCoin cryptocurrency. CanYa is also powered by a decentralised organisation that revolves around $CAN and provides the governance backbone of the platform. Users stake $CAN to join the CanYaDAO which will be launched later in 2019.

Want to learn more about CanWork or the CanYaDAO? Come join the CanYa community Telegram channel.

Or hit us up on any of the links below:

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