Nftfy is Launching on BSC
Nftfy has decided to establish a three-step launch, with the Binance Smart Chain (BSC) as the final stage of its Liquidity Generation Event (LGE).
The first step was the IDO on Poolz, followed by an LBP on Balancer as the second step. To complete the launch and perform the official Liquidity Generation Event, Nftfy is migrating to the Binance Smart Chain and will finally launch the NFTFY token on a PancakeSwap pool.
It is important to make it clear that NFTFY tokens are ERC20-standard assets. On the Binance Smart Chain, we will have NFTFY in the BEP20-standard, a wrapped asset backed by that ERC20.
Our Motivation
On May 10th, 2021, at 13:00 UTC, we launched a Liquidity Bootstrapping Pool (LBP) on the Balancer protocol to allow our entire community to have the opportunity to purchase NFTFY tokens. This LBP finishes on May 12th, 2021, at 1:00 UTC.
However, on May 10th, Ethereum reached a new ATH and this was followed by extremely high gas fees in the network, making the token purchase operation unfeasible for most users. For a simple swap transaction, the price charged was more than USD 500, making the trade impractical.
In our roadmap developed for Ethereum, we had planned to implement cross-chain and multilayer solutions shortly. However, given the situation experienced in these last hours, we found it necessary to bring forward our integration of another network, which will be the Binance Smart Chain (BSC).
This change is being implemented purely to benefit our community and partners. The high gas fees on Ethereum will make our ecosystem unsustainable, especially at the launch of the platform and with all the ideas we have to implement.
How to Convert Tokens to BSC
Anyone who purchased NFTFY on the Poolz IDO and in the LBP event on Balancer will be able to migrate them using a bridge available in our platform. All of them will have 18 hours to perform this operation until the launch of the pool on PancakeSwap.
New Roadmap
With the end of the LBP on Balancer on May 12th at 1:00 UTC, we will proceed with the following steps for our Official Liquidity Generation Event:
PancakeSwap Pool
We will launch a pool of NFTFY/BUSD on the PancakeSwap platform on May 12th at 19:00 UTC.
Token Delivery
The NFTFY tokens will be available for withdrawal by:
- Investors who bought NFTFY in the private sales
- Buyers from Poolz IDO and LBP on Balancer who used the bridge to send NFTFY to BSC
- People who received airdrops of NFTFY
Super Farming Program
1,000,000 NFTFY will be made available over six months for the Nftfy Farming program.
