The world’s largest decentralized encyclopedia powered on the EOS Blockchain recently announced its Token listing on Binance. With this development, it now becomes the 1st EOS token listed on the Binance Exchange.
Everipedia & The IQ Tokens
In a recent press release, Everipedia’s IQ token will become the 1st EOS based token to be listed on Binance, which is the world’s largest cryptocurrency exchange.
Everipedia is the first encyclopedia that incorporates blockchain technology. The company is creating a decentralized alternative to Wikipedia that leverages “IQ Tokens” to reward contributors on the platform. IQ Token holders become stakeholders in the Everipedia network and have the ability to vote on articles and edits that are later added to the platform’s “knowledge base.” According to the company’s website, the platforms “knowledge base” offers an abundance of articles and content since users can create articles about anything if they have a proper citation. Powered by the EOS blockchain, Everipedia now caters to 300 million wiki views and over 50,000+ daily active users.
Theodor Forselius, Co-Founder & CEO of Everipedia stated that:
“This milestone is a significant indicator of the growth and maturity of Everipedia and the IQ ecosystem, as well of the EOS ecosystem with Everipedia leading the way,”
Pushing Into Decentralized Finance
In addition to its decentralized encyclopedia, Everipedia is pushing into decentralized finance. PredIQT, a decentralized prediction market, is the company’s latest move into DeFi. On the PredIQt platform, users have the ability to create markets on future events. PredIQT tokens are used for various tasks such as payments, and staking. For example, some of the markets on the platform revolve around politics. One market gives users the ability to predict the elections, asking the question “Will Donald Trump be re-elected for a second term as US president?”
On future developments, Co-Founder and President ( Sam Kazemian ) stated that:
“Everipedia is the world’s first encyclopedia to use blockchain technology. Our next step is to build out our decentralized finance products into the platform using the same blockchain innovations that we are known for. We’re looking forward to working with Binance to ensure the greatest number of community members have access to the utility of the diverse Everipedia ecosystem.”
The Push Into DeFi Is Real
In a recent report by Visionary Financial, it was noted that decentralized finance has been one of the fastest growing sectors in crypto since 2017. By cutting out the centralized party, DeFi creates a peer-to-peer ecosystem through smart contracts. These smart contracts can execute automatically if/when certain conditions are accomplished. We can see how this protocol works by looking at the different markets on PredIQT. By looking at DeFi Pulse, we can see the exponential growth in DeFi locked value ( USD ). In 2017, there was nearly $0 locked into DeFi. If we fast forward to today, we will see that $1.5 billion represents the total value locked into DeFi. In simplest terms, $1.5B of total value is now held in smart contracts, which goes to show how much the industry has grown over the last few years.
Trading On Binance
IQ Token trading on Binance started on 6/19/20 and will provide holders with all the Binance benefits. Some of these features include high amounts of liquidity, various trading solutions, and infrastructure focused on security and decentralization. IQ Tokens will be involved with the leading cryptocurrency exchange that processes an average of 2B in daily volume, and executes 1.4M transactions per second.
Image Source: Everipedia Twitter