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BTC Upbit, one of South Korea's largest cryptocurrency exchanges, announced the launch of a Solana-based blockchain project MetaDAO (META2). According to an official announcement issued by the exchange, META2 will open Korean won (KRW), Bitcoin (BTC) and TEDA (USDT) trading pairs on July 29.
The announcement shows that META2 recharge and withdrawal operations will be activated within two hours after the announcement is released. Spot trading is scheduled to begin at 16:30 on July 29. Upbit also said that if there is insufficient liquidity, the start-up time may be delayed.
The exchange emphasizes that users can only make top-ups and withdrawals through the Solana network. Assets sent over other networks will not be supported, and refunds for such transactions may take a long time. In addition, META2 tokens will be launched with the code "META2" to avoid confusion with the currently traded Metadium (META).
MetaDAO is a platform developed based on the Solana blockchain and adopting a market-driven governance model. Unlike traditional decentralized autonomous organizations (DAOs), MetaDAOs not only use voting, but also use a market price mechanism to evaluate the impact of community proposals on projects.
The platform integrates fundraising, token issuance and community governance in one chain, while META2 tokens are mainly used for various transactions within the ecosystem, especially to participate in the governance process.
Upbit reminds users to confirm the correct network and smart contract addresses before trading, and emphasizes the need to comply with relevant regulations under the travel rules.
* This article does not constitute investment advice.
