Binance-Peg BUSD Is Now Available on Meshswap
By The binance.com
We are pleased to announce that we’re partnering with Meshswap to bring more use cases to the Polygon network.
After we announced Binance-Peg BUSD is available on Polygon, all Polygon and Binance-Peg BUSD users will soon be able to use the token to explore Meshswap.
By providing revenue generation opportunities, Meshswap users are can experience its swap, lend, leverage farm, and staking functions and get access to its DeFi services on Polygon.
About BUSD and Binance-Peg BUSD
BUSD is a regulated, fiat-backed stablecoin pegged to the U.S. dollar.
The Paxos-issued BUSD stablecoin, as well as its reserves, are subject to strict regulatory oversight by the New York Department of Financial Services.
BUSD is backed by reserves held in either or both (i) fiat cash in dedicated omnibus accounts at insured U.S. banks and/or (ii) U.S. Treasury bills (including through repurchase agreements and/or money-market funds invested in U.S. Treasury bills).
Binance-Peg BUSD, which is not issued by Paxos nor regulated by NYDFS, is a separate product.
Binance independently mints Binance-Peg BUSD on other blockchains (e.g., BNB Chain, Polygon, Avalanche) and pegs the tokens to BUSD on a one-to-one basis.
This allows holders of both tokens on the Binance platform to swap tokens between Ethereum and other blockchains.
About Meshswap
Meshswap is a unique autonomous finance protocol that provides various revenue generation opportunities such as Swap, Lend, Leverage farm, and Stake on a Polygon network, which is impossible in traditional finance.
Meshswap has a structure that combines the AMM (Automated Market Maker) DEX business model prevalent in the DeFi ecosystem with the uniqueness of Multichain Economy and autonomous MESH inflation distribution by MESH stakers.
This structure enables a virtuous cycle in which the MESH community’s active engagement is the growth of MESH value, the growth of the entire protocol, and higher yields for ecosystem participants.
And users will have a chance to gain rewards for their contribution to protocol growth, such as transaction fees, MESH rewards, In Meshswap, a complete on-chain instant swap protocol that offers an immediate token trading environment, users with a governance token MESH have the right to determine significant parameters of Meshswap’s policies and directions for service improvement.and token airdrops.
