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Is Nigerian E-naira Available On Pancakeswap?

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On the 25th of October, the Nigerian e-naira dubbed E-naira was launched, making Nigeria the first African country to launch a digital currency.

The E-naira was launched in the country’s capital by President Mohammed Buhari in his official residence. After the prior launch date, the 1st of October, 2021 was postponed due to various circumstances.

However, after the launch, it appeared that the E-naira is available for trading on Binance Smart Chain (BSC). It seems that an unidentified developer has created another version of the E-naira.

Launching a token on Binance Smart Chain is easier than most people think. For this reason, a lot of scam tokens are available for purchase there.

How to do create a token on Binance Smart Chain:

First, you go to Token create after typing control. app/bnb/BSCCreateToken in the address column on Trust Wallet Dapp.

Then you give your token a name and a symbol of your choice, specify the total supply quantity and the number of decimal places your token can be divided into.

After that, you set the characteristics you want your token to have, select Create Token and pay the creation fee, and there you have it, very easy.

The E-naira based on the Binance Smart Chain was created less than a day ago and is currently held in 164 addresses with a total transaction numbering up to 369 at the time of this writing.

With one wallet address holding 99.9% of the total supply of the naira on BSC, it is pertinent to note that the BSC E-naira has a total supply of 1,000,000,000,000,000, with a decimal of 9. 

The E-naira equivalent of 1 dollar on Pancakeswap is over 1.4 million. The complete detail of the BSC based E-naira can be found here

It is important to note that the E-naira on Pancakeswap is not that of the Central Bank of Nigeria.

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Data Scientist, Tech Enthusiast and a Crypto Lover