South Korea-based cryptocurrency Exchange Upbit has released a list of new digital assets.
Upbit announces DoubleZero (2Z) list
According to an official announcement from Exchange, a token named DoubleZero (2Z) will be available for deposits and withdrawals on the Solana network starting at 9pm on October 2nd.
Upbit emphasized that users can deposit and withdraw 2Z using the Solana network. We note that transactions made on the wrong network are not valid and the refund process can take some time. The contract address specified in 2Z was also shared with investors.
The exchange has announced that certain restrictions will be in place when trading is opened. Therefore, purchase orders are limited for about five minutes from the moment the transaction begins. Additionally, only limited orders will be accepted for the first two hours.
DoubleZero stands out as a project aimed at providing high-performance communications infrastructure for blockchains. Utilizing unused fiber optic networks, the project aims to reduce network bottlenecks in validators, RPC nodes, MEV systems, and L2 solutions by providing reduced bandwidth.
DoubleZero, which has participated in the testnet phase, which includes over 140 validators, manages approximately 16% of Solana’s total stake through the network. The project’s native token 2Z is used for transaction fees, network participants’ compensation, and staking.
*This is not investment advice.
