In Response to Being Delisted, Mithril Requests $53 Million in BNB from Binance.

image-In Response to Being Delisted, Mithril Requests $53 Million in BNB from Binance.

December 19, 2022

The blockchain social media project Mithril has requested a refund from Binance in the amount of 200,000 BNB ($53 million), following the cryptocurrency exchange’s removal of its token from the platform.

The project claimed that as part of the initial listing in November 2018, it gave Binance a deposit of 200,000 BNB. The project tweeted,

“We respectfully ask to have our 200,000 BNB deposit returned given that Binance has unilaterally decided to end this partnership.”

The BNB deposit would have been worth about $1 million at the time of listing in 2018.

Additionally, Mithril stated that the project had worked with the cryptocurrency exchange for a long time. When the Binance Chain started in April 2019, Mithril’s token, known by the ticker MITH, was the first token there. Also, it was the first pair to be listed on the decentralized Binance exchange. 

Mithril also mentioned that as part of a long-term partnership with the organization since 2018, it contributed to Binance Charity and worked with it on other projects. The Blockchain Charity Foundation received 20,000 BNB, according to the listing announcement from 2018.

According to Mithril, the refund was required for business operations. For close to 2 years, the blockchain social media project has largely been dormant. Prior to yesterday, it last updated Twitter on January 7, 2021. The website for the project also appears to be unavailable.

On Thursday, Binance delisted 4 tokens, including MITH. The tokens were said to no longer satisfied the exchange’s listing requirements.

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