Mithril was launched as an ecosystem, based on blockchain technology, which will be used on social networks. The platform was dedicated to data sharing on social networks. It had to reward content creators taking into account the flow of data transferred. But, after a while, nothing more was heard of this ecosystem, until a recent decision by Binance.
A matter of breach of listing conditions
In 2018, blockchain project Mithril made a deposit of 200,000 BNB to Binance accounts. At the time, this represented an investment of 1 million dollars, to register on the crypto exchange. Today, the 200,000 BNB have an estimated value of $50 million. That said, Binance announced recently the withdrawal of the MITH token from Mithril. He explained that his decision is justified by the fact that Mithril no longer met his high standards.
Mithril reacted to Binance’s announcement in a tweet indicating that he would like to be reimbursed for his initial investment. Indeed, the project team said: Today, Binance announced that it will be delisting MITH. As part of the MITH listing, Binance required a deposit of 200,000 BNB. A sum that they have never returned. On behalf of the Mithril community, we are asking CZ to return this deposit so that Mithril can continue to function “.
But, for the CEO of Binance, it is out of the question that the 200,000 BNB be returned in Mithril. CZ suggested that his exchange is doing well not returning the funds. He explained that in reality the project violated the listing conditions, as its website was offline.
” The price of your token is well below the trigger levels. I read the comments. Your website is offline. You haven’t tweeted or updated your community in almost 2 years. I believe our team made the right decision ,” CZ explained to Mithril.
On December 15, Binance announced the removal of MITH, TRIBE, REP, and BTCST tokens from its platform as of December 22. The team behind the development of the MITH token reacted quickly to demand a refund of the funds initially invested. CZ responded that Binance will not issue any refunds to Mithril.
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