As the #HIVE airdrop approaches, #ionomy is taking a stand on Binance and Justin Sun’s cooperation, especially as it pertains to TRON founder Justin Sun’s disputed #STEEM coins.
This fork and airdrop represent the Steem/HIVE community’s exercise of their right to disagree with those who try to abuse their position and power. Thus far, Binance has proven to be no friend of the community in this disagreement. Binance allowed Justin Sun to leverage customer funds in Binance custody to hijack the Steem chain and undo community action. To be clear, the community’s action in response (a community activated soft fork) did not steal coins from Sun, the Tron founder, but merely made it so that he could not rapidly devalue Steem.
ionomy affirms the right of communities to decide how their projects should operate as well as who should be able to participate.
Whenever you have a centralized exchange, custody is an agreement — a promise between the exchange and its users. ionomy refuses to be complicit with any effort to undermine community authority. ionomy pledges that it will never abuse user funds. Any custodial action taken with user funds will only be take when the user grants explicit permission.
Blockchain technology in today’s world is being met with fierce opposition from regulatory bodies and powerful people intent on enriching themselves while preying on the less powerful. Blockchain is more than money… it’s a movement. As an advocate of the blockchain movement, ionomy embraces the responsibility to help protect it. ionomy will not just stand idly by and watch powerful people abuse their positions and attempt to take advantage of communities around the globe.
Exchanges have extraordinary power in the cryptocurrency space. They have the power to make or break projects. They have the power to hijack customer funds and to create winners and losers. With great power comes great responsibility. ionomy stands with the communities that make cryptocurrency projects meaningful and valuable.
ionomy stands with HIVE.
Market distortion like this directly devalues customer assets. The fact that Binance did this in the midst of a global pandemic, a time when many customers may need to liquidate their assets to cover emergencies, brings the facts into harsh focus:
Playing games with customers’ funds demonstrates a reckless disregard for customers’ wellbeing.
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There are no words to describe their impropriety: only bad words!
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Now that Binance is supporting the HIVE fork, community members whose Steem is still in Binance custody have little choice but to rely on Binance through the fork. But what Binance did was wrong. It remains unclear how Steem/HIVE holders can continue to trust Binance after this egregious behavior.
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Can't trust them. I hope community members who still have funds on there will withdrawal as soon as possible.
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In fact, personally I have closed all my relationships with @binance-hot!
Here is my @ionomy's referral link: https://ionomy.com/en/aff/191ff519aec1f232151ffc51cff0ab9b Enjoy it!
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Just created an ionomy account. Love that ionomy is a privacy-focused exchange. I don't like to give identifying info.
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Well said!
I just opened a new ionomy account, very easy and it all seems very functional!
@tipu curate
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Upvoted 👌 (Mana: 40/45 - need recharge?)
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Join the community in our migration to Hive, a community built blockchain for the community. All Steem account holders will receive equivalent stake on the new Hive blockchain.
Please see this post on SteemPeak for more information.
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Nice one. I've heard about this exchange for a while now. Time to check you guys out.
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i must do kyc to use ionomy exchange ?
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No. No private identifying information is required. Just create an account with any email and you're good to go.
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Bravo! You just got another new customer.
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Very heart warming! Thank you for being so steadfast!
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