DALLAS, TX – BlockSocial Technologies Inc, the parent company of BankSocial™, has re-launched its Ethereum based contract as $BSL and is now available for trading on both centralized and decentralized digital exchanges.
Since its initial launch in May 2021, BankSocial™ has amassed a global following of more than ten thousand investors and has introduced first-of-their-kind technologies that are already revolutionizing outdated financial services. Ever-expanding, the BankSocial™ ecosystem was upgraded to allow for continued development, the implementation of next-generation security measures, the enhancement of the overall end-user and community experience, and the installation of a regulatory compliance framework.
BankSocial™ community members who held decentralized $BSOCIAL on the Ethereum blockchain were “airdropped” a proportionate number of newly deployed $BSL which has an equivalent dollar value. All $BSOCIAL that remains in the user’s wallet is now void of value and cannot be traded. Additionally, all centralized exchanges where $BSOCIAL was purchased are upgrading their platforms to migrate voided holdings into newly deployed $BSL. $BSOCIAL that is currently being traded on the Binance Smart Chain will undergo a similar migration in the coming weeks.
John Wingate, CEO of BankSocial™ stated “This upgrade to the BankSocial™ ecosystem postures us to reach our goal of providing financial services sooner and adds value for holders by reducing our overall supply from 10 trillion to 10 billion. We carefully cross-referenced all wallets to ensure that all holders received their correct distribution of $BSL and burned a significant portion of assets during the migration, which further adds value for our holders. I’m excited for this upgrade as it underpins the strength of the BankSocial™ community and is another milestone reached on our journey to change the face of finance.”
In addition to upgrading its contracts, BankSocial™ has recently completed alpha testing of its new BankSocial™ mobile application which will play an important role for users as a gateway to a full range of personal and business financial services, including payments, transfers, lending, and business services, along with the storage of NFTs, amongst other features, built on blockchain technology, available globally.