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Social media blockchain project Mithril has asked Binance to return 200,000 BNB ($53 million) after the cryptocurrency exchange removed its token from the platform today.
Project announced that it paid a 200,000 BNB deposit to Binance as part of its initial listing in November 2018. "Since Binance unilaterally decided to end this partnership, we respectfully request the return of the 200,000 BNB deposit," the project tweeted . .
At the time of listing in 2018, the BNB deposit would have been approximately $1 million.
Mithril also claimed that the project was a long-term partner of the crypto exchange.
The Mithril token along with the MITH token was the first token on the Binance chain when it was launched in April 2019. It was also the first pair listed on the Binance decentralized exchange.
Mithril also added that he has made donations to Binance Charity and collaborated with other initiatives as part of a long-term working relationship with the company since 2018. The 2018 listing shows a donation of 20,000 BNB to the Blockchain Charity Fund.
MITH token drops 20% due to Binance listing. Photo: CoinGecko.
Mithril has stated that a refund is required to continue operations. The blockchain social media project has been largely inactive for nearly two years. Its last Twitter post before today was in January. 7, 2021. The project website also appears to be offline.
MITH was among four tokens removed from Binance on Thursday. The notice stated that the tokens no longer meet the exchange's listing standard.
Binance did not immediately respond to The Block's request for further comment prior to publication.
Data from CoinGecko shows that the Mithril token is outside the top 1000 cryptocurrencies by market cap. MITH currently has a market cap of $5.9 million. The current price of the token has fallen by more than 20% since listing on Binance.
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Source: https://www.theblock.co/post/195326/mithril-binance-delisting-refund
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