Announcing the Launch of our Cross Chain Bridge with BNB Chain
Buying.com is pleased to announce that we’ve created a cross chain bridge with BNB Chain a DeFi platform! While BUY is currently cross chain to Ethereum, creating a bridge with BNB Chain is great news for the Buying.com community as it brings with it a multitude of exciting benefits now and in the future.
Why cross chain benefits the Buying.com community
Let’s start by understanding what cross chain is and what purpose it serves. Simply put, cross chain is a tool that allows blockchains to transfer assets between them. Traditionally, blockchains are individual networks of blocks that don’t connect, but by building a cross chain bridge, these ecosystems can now unify and work together. Cross chain interoperability is an undeniably valuable tool that serves Buying.com in a number of ways.
First, being able to transfer assets between chains greatly increases the value of these assets because they can now be used in more scenarios, which in turn provides more yield. Second, compatibility is becoming a blockchain trend. Popularity is tied to a token’s ability to integrate with other popular chains. Lastly, the most popular DeFi protocols now are multi-chain, allowing these networks to be compatible with one another in a truly decentralized way. Buying.com sees the value in operating cross chain and is taking advantage of this for its community.
Why building a BNB Chain bridge benefits the Buying.com community
Buying.com decided to create a bridge with BNB Chain for a number of reasons that benefit the community both short and long term. First, BNB Chain offers token holders incredibly affordable trading fees. Until now, BUY was only cross chain with Ethereum, which, although valuable, comes with relatively high transaction fees. Being able to trade BUY token on the BNB Chain at lower costs, gives BUY token holders more trading flexibility.
Another benefit to building a BNB Chain bridge is that it gives the Buying.com community more exposure. BUY will now have access to millions of BNB Chain users that otherwise may not have been familiar with the Buying.com ecosystem. What’s more, as a long term goal, being cross chain with BNB Chain also opens the doors to a potential listing on the Binance centralized exchange further down the road.
How to use the BNB Chain bridge
BUY token holders can now use the BNB Chain bridge to wrap their BUY tokens on BNB Chain (BEP-20), and use PancakeSwap or any DEX that supports the BNB Chain to trade BUY tokens.
$BUY Token BEP-20 contract address: 0x40225c6277b29bf9056b4acb7ee1512cbff11671
BNB Chain bridge link: bnb.buying.com
For instructions on how to use the BNB Chain bridge click HERE.
In conclusion
Development of the BNB Chain bridge is an exciting move for Buying.com because it opens up new opportunities now and in the future. Becoming multi-chain across various platforms is a long term goal for the BUY token, and one that’s further solidified by this latest step with BNB Chain.
Join the Buying.com Telegram channel for the latest updates on what the team is up to at this exciting time in our roadmap.
Website: https://www.buying.com
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