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First BSC-Based Certificate of Deposit Token Launched

  • Certificate of Deposit token REX launched on the Binance Smart Chain.
  • REX is an alternative to the Ethereum-based Certificate of Deposit token HEX.

The ERC-20 token called HEX was designed to store value and revolutionize the traditional Certificates of Deposit that we use. With HEX, Certificate of Deposit tokens can now exist on a blockchain.

On the other hand, REX, a Certificate of Deposit token launched on the Binance Smart Chain aims to give users an alternative to ETH-based token HEX.

Looking at the basics, the BSC-based token has a very similar staking concept to HEX. According to the team, REX offers a higher rate of return than traditional Certificates of Deposit.

Considering the application of blockchain technology and its nature, a wide array of functions also apply to the REX platform.

With the platform, users can also decide to put names to their stakes. Through this, they are able to keep track of their staking ventures. For example, users can set the name of the stake to “holiday plans.”

As it functions this way, the user can keep track of where his or her funds are reserved for. Should investors need to, they can opt to take out interest from immature stakes so that they can avoid penalties.

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