The Difference Between Binance.com, BSCPad and Binance Smart Chain (BSC)
Are They Not The Same?
They are all in gold and start with the letter ‘B’, but in fact, these three names represent very different things. In this article, we shall explore their differences and attempt to clear the confusion once and for all.
Binance.com
Most of us would have heard about Binance.com. It is a cryptocurrency exchange that provides a platform for trading various cryptocurrencies. It was founded in 2017 and is currently the largest exchange in the world in terms of daily trading volume.
BSCPad
BSCPad is a decentralised IDO launch pad dedicated to launching projects on the Binance Smart Chain (BSC). BSCPAD has been developed and put together by the team behind DeFi Prophets and is independent from Binance. BSCPad enables crypto projects built on the BSC blockchain to distribute tokens and raise liquidity through an Initial Decentralised Exchange Offering (IDO). In other words, new BSC-based projects launch their tokens on BSCPad to raise funds from the public.
Binance Smart Chain
Binance Smart Chain (BSC) is a smart contract blockchain. Introduced in Sep 2020, BSC is Ethereum Virtual Machine (EVM) compatible, uses Proof of Staked Authority as its consensus mechanism, features cross-chain transfer and has a speedy block time of around 3 seconds. Put simply, it is a blockchain similar to Ethereum in functionality but aims to be cheaper to use and more efficient.
What Has It To Do With Mars Panda?
Mars Panda is a project built on the Binance Smart Chain (BSC) blockchain. The Mars Panda Token (MPT) is a BSC token. That is why our IDO has to be done on a platform that supports BSC projects. Additionally, when you transact MPTs, you will need to select BSC as the network to use in your cryptocurrency wallet.
Now, back to Binance.com. We plan for MPTs to be traded on centralised cryptocurrency exchanges. With Binance.com being one of the largest cryptocurrency exchanges around and that we have partnered with Binance via Binance Pay, it is reasonable that we will prepare for a MPT listing on Binance.com. However, this is still work in progress (listing is a very serious and long process with Binance.com) and we will make the appropriate announcements when the time comes.
We Are Here For You
We hope this clears up some confusion our community currently has with all these terms. We acknowledge that it can be quite overwhelming and the similarities in the names do not help.
Rest assured though that Mars Panda is always here for you. Please let us know in our various channels, issues that interest you, concern you, or confuse you. We will do our best to address them!
About Mars Panda
Mars Panda is a complete eco-system which consists of:
• Games, Social Media and Ecommerce Aggregation
• Yield farming DeFi
• Mars Panda game with NFT game elements
• NFT Marketplace
We aim to fuse mainstream eCommerce and Gaming to the crypto world of NFTs and DeFi, on one seamless, unified platform.
Find us at:
Legatus Global Pte Ltd is an entity that has obtained a regulatory exemption under the Payment Services Act (“PSA”) for digital payments token services. Legatus Global is commissioned to handle the issuance of Mars Panda Token (MPT) as well as the KYC/AML during the private sales and distribution of tokens to private investors. Legatus Global is also handling the process for private sales and distribution.
