TimeX supports the migration of QUANTOCOIN (QTC) from Waves to Binance Smart Chain starting today. Following the swap, QTC will be made available for trading on TimeX from mid January.
QUANTOCOIN (QTC), the native token of the blockchain banking platform and fintech payment solution QuantoPay, is moving from Waves to Binance Smart Chain (BSC) in order to drive the next phase of platform growth and crypto adoption.
The migration will take place on TimeX, starting on 28 December, with BSC QTC tokens listed for trading on the exchange in mid January.
In order to swap QTC, users simply deposit tokens to their TimeX account after completing KYC level 4 verification. There are no further steps needed, all QTC on TimeX will be swapped automatically.
QUANTOCOIN, and the associated QuantoPay platform, are a second-generation fintech solution that offer users new ways to save, spend and transfer their money, while also providing new ways to earn. The team includes experts from a range of different disciplines and backgrounds, with the recent addition of the former CTO of Chrono.Tech – the Sydney blockchain company behind TimeX and other major crypto projects.
Launched over four years ago, the initiative has gained the relevant e-money licences and is now undergoing its final audits and security checks before launch. The beta version of the ‘Second Generation Mobile-Only Digital & Blockchain Bank of the Future’ will shortly be available on Google Play and Apple Store for testing.
Upon completion of a successful testing phase, release of the QuantoPay platform to the general public is scheduled for Q1 2022.
About the chain swap
The QUANTOCOIN team has been building their product since 2017. The intervening period has seen seismic shifts across the crypto space – in the markets, in the development of blockchain technology, and in the introduction and evolution of the regulation that covers the interface between crypto and fiat worlds.
As the landscape for crypto technology became clearer, the need for a new approach to blockchain infrastructure became more obvious. Ethereum, then still in its relative infancy, was seen as a promising solution but mired in controversy – with December 2017’s CryptoKitties congestion incident casting questions on the platform’s capacity to meet future demand.
Ethereum has now established itself as the leader in the DeFi space, and interest in Eth layer-2 and EVM-compatible chains has soared. This has informed the choice of BSC, an Ethereum-compatible platform that has gained significant traction since its launch in 2020, becoming the third-largest blockchain by market capitalisation and the second largest smart contracts platform.
‘Migrating our blockchain from the Waves Platform to Binance Smart Chain will allow us and our customers a faster, more secure and cheaper implementation of blockchain and, eventually, crypto transactions. We have used the Waves Platform for the past four years, and while we appreciate its decentralised exchange and other technology, it is high time to adjust to recent market developments and switch to an Ethereum-compatible blockchain, awaiting the roll out of Ethereum 2.0, which will further benefit our DeFi solutions.’
– Pablo V. Dana, QUANTOCOIN Co-founder and CEO
QTC will initially be listed on TimeX.io, providing immediate liquidity for the token on its new chain. Trading and withdrawals on Binance Smart Chain will open in mid January.
To find out more, visit QUANTOCOIN.io.