The Long-Awaited Dvision & Binance Smart Chain Bridge Finally Goes Live!
The Dvision Network is an ultimate blockchain-based NFT metaverse platform. The Dvision Network establishes a cutting-edge metaverse ecosystem, by utilizing its own VR technology, that helps to lower the entry barriers for all types of users across the globe. Therefore, it allows designers, enterprises and general users to dive into the most advanced metaverse experience.
As the countdown on our website approaches its logical ending, the Dvision Network is thrilled to announce the release of its Binance Smart Chain Bridge, which marks the beginning of the $DVI token as a BEP-20 standard. The DVI cross-chain (ETH <-> BSC) bridge, built in cooperation with Curvegrid, will be a crucial enhancement for the Dvision Network. It will enable DVI holders to seamlessly bridge their ERC-20 based DVI tokens over to the Binance Smart Chain’s BEP-20 based DVI tokens. However, due to security concerns and high gas fees that will be incurred during the transfer, Dvision has decided to disable the “Transfer Functionality” for the wider public and will enable direct access to BEP-20 DVI tokens through a liquidity pool powered by PancakeSwap. The listing details on PancakeSwap will be disclosed later and won’t be carried out right away due to the extreme fluctuations in the market.
Binance Smart Chain
We have previously disclosed the primary reasons why we have decided to partially migrate to the Binance Smart Chain. We mentioned that it is correlated to our vision and belief in BSC as an ecosystem that unlocks the next generation of dApps. BSC is a highly scalable blockchain that supports smart contracts and Ethereum Virtual Machine programmability, featuring high TPS (transactions per second), and fast, decentralized trading with low fees.
The Looking Glass Bridge (Cross-Chain)
Dvision Network’s ETH ←→ BSC Cross-Chain bridge is powered by the Looking Glass tool, which is built on top of MultiBaas. In the first stage, the bridge will be exploited internally by authorized relayers in order to move over X amount of ERC-20 based DVIs from the Ethereum Mainnet to BEP-20 based DVIs on the Binance Smart Chain. The bridge is currently in full operating condition but is being reviewed for security checks. It’s planned to be opened up for wider access in early June.
The BEP-20 DVI Token
Although the bridge will initially be exploited internally, that does not change the ultimate purpose of the bridge. We will allow the usage and purchase of the BEP-20 DVI tokens through a separate DEX listing by creating and providing a liquidity pool on PancakeSwap. A separate announcement regarding the listing details will be provided very soon, stay tuned! The listing details on PancakeSwap will be disclosed later and, it should be noted, that it won’t be carried out right away due to the extreme fluctuations in the market.
It makes more sense to purchase the BEP-20 based DVI tokens directly from the liquidity pool to avoid incurring high gas fees during a transfer through the bridge. For instance, anyone who wishes to hold the BEP-20 based DVI tokens should acquire them directly from PancakeSwap rather than purchase DVIs from Ethereum-based DEXs. If you purchase DVIs from there, you will pay $50–60 just on gas fees and pay additional gas fees while swapping the ERC-20 based DVIs to BEP-20 based DVIs.
Here’s the link to the UI page of the bridge: MultiBaas Bridge
(You may also find it on our website)
Ethereum Mainnet Smart Contract DVI Token (ERC-20)
0x10633216e7e8281e33c86f02bf8e565a635d9770
Binance Smart Chain Mainnet DVI Token (BEP-20)
0x758fb037a375f17c7e195cc634d77da4f554255b
Bridge Contract
0xdf2f45792f53c281235f1c50cfa37b38810817fb (On both sides)
Bridge ERC20 Handler
0x34870a664331007f37ad5fb71f9508642d092506 (On both sides)
