The crypto mining services provider explained on its website that the move will help “maximize the function of HNST as a utility token and gain more real usage as Binance chain concentrates on performance and usability”.
The HNST token will also possibly be listed on Binance DEX, Binance’s native blockchain built on top of Binance Chain.
ERC-20-based HNST tokens will be converted to BEP-2 format in June.
The collaboration will also involve migrating the wallets of Honest Mining, Tokenomy, and Binance.
Established in 2018, Honest Mining provides crypto mining services and supports coins that back proof-of-stake consensus algorithm such as Dash (DASH), ZCoin (XZC), and SmartCash (SMART).