DuckDAO Goes Cross-Chain with Binance Smart Chain Launch
Edit: DuckBridge now supports BSC transfers.
At DuckDAO, our ambition has always been simple — to empower users to take control of their finances by gaining access to investment opportunities previously reserved for VC funds, insiders, and well-heeled individuals. On the back of this vision, we built the first community-powered crypto incubator and launchpad and grew our colourful community of Ducks into the tens of thousands — producing a force to be reckoned with in the crypto space.
But in the last few months, one thing has become painfully apparent — our growth has been largely restricted by the current capabilities of the Ethereum Blockchain. As ERC-20 tokens it was becoming expensive to transfer, stake, and use DuckDaoDime (DDIM) and DUCK DLP (DUCK) tokens, posing a major barrier in our goal to become the most inclusive incubator, since some newer, less-established members may have been put off by the high transaction fees.
With Ethereum 2.0 still some time away, we have decided to make a bold move toward the path of greatness, and can now announce that both DDIM and DUCK are about to go cross-chain, and will launch as BEP-20 assets on the Binance Smart Chain!
Why Binance Smart Chain?
These last few months have proven that cross-chain technologies are becoming increasingly important in the world of crypto. And with rising transaction costs threatening to make early-stage crypto investments a “whales-only” game we believe it’s time to help change the tide and adopt technologies that make DuckDAO more efficient, more powerful, and most of all more inclusive.
Support for BEP-20 DDIM and DUCK will soon be rolled out across the entire DuckDAO ecosystem.
Launching on Binance Smart Chain helps achieve all of these goals, and unlocks new avenues for growth. Here’s why:
- Paves the way for incubating projects on Binance Smart Chain. With one of the fastest-growing DeFi landscapes, we have received numerous requests to incubate projects launching on BSC. Now, we can!
- Despite launching in September 2020, Binance Smart Chain has already reached 70% of Ethereum’s daily traffic — demonstrating rapid growth and adoption.
- Extremely low transaction fees: think cents, not $20-$100 a pop.
- EVM compatibility makes porting Ethereum applications to Binance Smart Chain a low-cost, painless process, while users benefit from the same seamless experience they’re used to on Ethereum.
- Robust security — Binance Smart Chain uses the Proof of Staked Authority (PoSA) Consensus to keep the network secure, and has a block time of just 3 seconds, making for super-fast and secure transactions.
With this in mind, we are launching a simple token swap platform which will allow users to easily swap their ERC-20 DUCK and DDIM tokens at a 1:1 ratio with their BEP-20 equivalents — and vice-versa!
The bridge is currently in the final stages of development and is pending testing and an audit to ensure the safety of all users. Even though we want to move lightning-fast, security is always on our mind, to ensure the best possible product for all Ducks.
Once these necessities are fulfilled the launch is imminent.
Find Out More About DuckDAO🐥
DuckDAO is a community-backed digital asset incubator that provides promising early-stage crypto startups with the expertise, financial resources, and marketing power needed to fast track their progress on the path to success.
Who will win? One VC or TEN thousand ducks?
˙ʇxǝu sǝɯoɔ ʇɐɥʍ ssᴉɯ oʇ ʇuɐʍ ʇ,uoʍ no⅄ ˙suoᴉʇᴉqɯɐ uᴉɐɥɔ-ssoɹɔ ɹno uᴉ dǝʇs ʇsɹᴉɟ llɐɯs ǝɥʇ ʇsnɾ sᴉ sᴉɥʇ puɐ ‘ɥO