Red Pulse Phoenix Binance (PHBV1) Price, Charts & Market Data

PHBv1 was used as part of Red Pulse’s dual-chain strategy to enhance the ecosystem’s functionality and support a broader user base. Key use cases included:

1. Token Conversion: PHX tokens held on Binance.com could be converted into PHB, enabling users to utilise Binance Chain’s features.

2. Platform Staking and Transactions: Both PHX and PHB were supported on the Red Pulse Phoenix platform, where users could stake tokens and earn rewards.

3. Enhanced Trading Access: By launching on Binance Chain, PHB provided users access to Binance DEX and greater liquidity through Binance.com.

4. Dual Ecosystem Participation: Users could operate within both NEO and Binance ecosystems, leveraging the unique advantages of each blockchain.

5. NFT and IP Protection: The Red Pulse platform continued its focus on tokenising research and intellectual property (IP), a capability extended to Binance Chain users.

PHBv1 was part of a broader migration strategy aimed at enhancing Red Pulse’s reach and scalability:

1. Migration to Binance Chain: In 2019, PHB was introduced as a BEP-2 token, enabling interoperability with Binance Chain. Binance.com facilitated automatic conversion of PHX to PHB for tokens held on the platform.

2. Expansion to Binance Smart Chain: Following its initial launch on Binance Chain, PHBv1 also became available as a BEP-20 token, enhancing compatibility with Binance Smart Chain (BSC).

3. Transition to Phoenix Global (PHBv2): In 2021, PHBv1 tokens (BEP-2 and BEP-20) were redenominated and consolidated under Phoenix Global (PHBv2), fully transitioning to Binance Smart Chain with a 100:1 token ratio.

Dual-Chain Strategy: The coexistence of PHX (NEP-5) and PHB (BEP-2 and later BEP-20) highlighted Red Pulse’s effort to leverage the strengths of multiple blockchains. Platform Support: Red Pulse continued to support staking and token usage for both PHX and PHB, with cross-chain interoperability enabling a seamless user experience.

Key Features: PHBv1 maintained the core functionalities of the Red Pulse Phoenix ecosystem, such as staking, IP protection, and support for tokenised research content, while leveraging Binance Chain's speed and efficiency.

Although 'PHB' was the ticker assigned at the deployment of the Red Pulse Phoenix Binance Token's smart contract, it is already in use by another asset that has a larger market presence and higher trading volume on major exchanges. Due to this pre-existing association and to avoid confusion in the marketplace, the alternative ticker 'PHBV1' has been adopted for this token. This designation is specifically used to ensure that assets are distinctly identified.