Krystal expands to Binance Smart Chain with PancakeSwap integration
Now Krystal users can swap BEP-20 tokens via PancakeSwap on Binance Smart Chain. Soon, users can also supply stablecoins on Venus.finance to get passive income, and earn Krystal Points that can be redeemed to BNB.
The Binance Smart Chain (BSC) ecosystem has enjoyed significant growth since Feb 2021. According to bscscan.com statistics at the time of writing, there are approximately 800k active wallets on BSC which generate 8 million transactions per day (compared to Ethereum which has 650k daily active wallets with 1.2 million daily transactions). Moreover, PancakeSwap — a BSC-based exchange has flipped Uniswap in transaction volume multiple times since last April.
Since Krystal is aiming to be a one-stop shop for all DeFi, we understand that BSC offers many opportunities to DeFi users, including fast & cheap transactions and the abundance of services that is almost comparable to Ethereum mainnet. Therefore, we are thrilled to announce that Krystal will officially support BSC from May 27 2021, and users will enjoy fast transactions (within 3 seconds) with cheap fees (around 3–10 cents per transaction) on BSC. Furthermore, you can switch between Ethereum and BSC seamlessly with a single tap in the app.
Native integration with PancakeSwap
If you’re familiar with AMMs on Ethereum such as Uniswap, SushiSwap or Kyber DMM, you will fall in love with PancakeSwap. In a nutshell, PancakeSwap is a decentralized exchange that is similar to Uniswap, but on BSC.
Since last April, PancakeSwap exchange has flipped Uniswap in transaction volume multiple times, and PancakeSwap still facilitates 3.6 million transactions with total trade volume around 500–700 million USD per day. Thus, if you’re looking for the most reputable and the most popular AMM on BSC, PancakeSwap is your go-to. By doing a native integration with PancakeSwap, Krystal will remove all confusions and difficulties for users to perform transactions via PancakeSwap. Putting the token you want to sell in the “From” field, then you will receive your desired token in the “To” field in the blink of an eye.
Let’s accrue more Krystal Points but on BSC
You might ask:
“Does the Krystal Point system still work on BSC?” and “What happens to my referral wallets on Ethereum? Will they still be taken into account if they use BSC?”
The answer is “Yes” and “Yes”. Let us clarify some points here:
- When you import/create a wallet on Ethereum, a new wallet on BSC will be created respectively with the same wallet address, and vice versa.
- Krystal Point and Referral Program are still applied on BSC.
- All referral wallets of yours on Ethereum, you will see them again on BSC.
- From now on, we will differentiate between Krystal Point on Ethereum (so-called eKP) and Krystal Point on BSC (so-called bKP).
- On Ethereum, you can redeem eKP to get ETH. Then on BSC, you can redeem bKP to get BNB.
To understand more about Krystal Point and Referral Program, you can read about it here.
About Binance Smart Chain:
- BSC introduction: https://academy.binance.com/en/articles/an-introduction-to-binance-smart-chain-bsc
- Bridge crypto assets from Ethereum to BSC: https://www.binance.org/en/bridge
About Krystal:
Krystal is a non-custodial app that boasts an immersive and frictionless DeFi experience for users by consolidating the best DeFi services under one roof, saving users time, money and effort.
You can download the Krystal app from Google Play Store and Apple Store directly. For APK and other ways to download, please refer to the Krystal website:
- Google Play Store: https://play.google.com/store/apps/details?id=com.kyrd.krystal
- Apple Store: https://apps.apple.com/app/krystal-one-platform-all-defi/id1558105691
- Krystal website: https://krystal.app/
Our Social Media:
- Twitter: https://krystal.app/
- Telegram: https://t.me/KrystalDefi
- Youtube: https://www.youtube.com/channel/UC716IG8wwq-hWWn4157EQ-Q/featured
