Binance lists IRISnet (IRIS), causes its price to surge

Crypto exchange Binance today announced the listing of IRIS, the token of IRISnet blockchain.

“Binance will list IRISnet (IRIS) and open trading for IRIS/BNB, IRIS/BTC and IRIS/BUSD trading pairs at 2020/07/21 1:00 PM (UTC). Users can now start depositing IRIS in preparation for trading”, said the announcement.

IRIS is the native asset of the IRISnet blockchain. It is used for delegating and staking for the consensus mechanism, paying for transaction fees and smart-contract executions, as well as creating and voting for governance proposals.

IRISnet is a blockchain infrastructure that serves as a communication relayer for other blockchains and their applications. The project has raised ~$22MM via private token sales. The IRISnet blockchain utilizes a Bonded Proof-of-Stake (BPoS) consensus mechanism. BPoS is a form of Delegated-Proof-of-Stake (DPoS) consensus mechanism that allows stakers with more tokens to earn additional rewards.

IRIS price today | Source: Coinmarketcap

COMP’s price surged by about 20% after being listed, with its price going from about $0.038816

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