Solana Coin Will Be Introduced To Binance With $50k Bounty

The San Francisco based cryptocurrency project Solana could soon launch on the Binance network, the crypto news today show. In fact, Binance already announced that Solana coin will be introduced to the exchange – in a tweet which also shows that the launch comes with a bounty of $50,000 SOL.

The new Solana coin is basically a performance scale oriented blockchain network which is able to complete around 50,000 transactions in a single second without sharding.

#Binance Will List @solana $SOL and Launch a $50,000 Bounty Promotionhttps://t.co/bYJMCjlmbv pic.twitter.com/1VTlrrkC8C

— Binance (@binance) April 7, 2020

In the Binance news, we can also see that the exchange posted on its website that Solana rewards are shared with SOL token without any listing fee. In another Twitter announcement, however, Binance said that people who complete certain tasks would earn SOL token worth around $1,000. It said that the first 1,000 people to complete all five tasks would receive a reward of $20 in SOL tokens.

📢 Complete tasks and earn up to $1,000 in @solana $SOL tokens!

The first 1,000 people to complete all 5 tasks will earn a guaranteed reward of $20 in #SOL tokens.

It pays to be fast:
➡️ https://t.co/xccLBEUgfN

Get your #Binance Referral ID:https://t.co/7kDjyhis8W https://t.co/nWRgpWBXIj pic.twitter.com/ud4KLk4xIo

— Binance (@binance) April 7, 2020

However, the first ten people which would complete four out of all five tasks will get SOL token of $100, while the first to complete all five would get 1,000 worth of SOL tokens. According to the official announcement, the Solana crypto launch bounty tasks are:

1. Read the primer and complete the Solana Quiz at the bottom of the page
2. Join the Solana Telegram
3. Follow Solana on Twitter
4. Subscribe to the Solana Newsletter
5. Refer a friend who completes the Solana Quiz.

As a high throughput blockchain which is right now supporting 50,000 to 65,000 transactions per second and block times of 400ms, the Solana coin (SOL) looks like a promising project. From what we have seen so far, Binance likes getting early on projects like these which is probably why it decided to publicly list this coin.

As one of the leading cryptocurrency exchanges out there, Binance has recently taken a lot of steps to improve its operation, products and services. In what many saw as an attempt to broaden its audience base, the firm also acquired a company which is basically the largest crypto data website out there, CoinMarketCap.

Even though the amount expended on the takeover was not disclosed in the media, Binance is believed to have spent more than $400 million as per media reports. The takeover was confirmed by both the exchange and the crypto market data aggregator.