OIN Bridge to Binance Smart Chain (BSC), and Pancake Swap Pair Now Live!

Published in

OIN Finance

5 min readApr 9, 2021

OIN is excited to announce the anticipated integration with Binance Smart Chain (BSC) is now complete and will be fully operational today! This will not only open up further opportunities for collaborative partnerships with other projects, but will also significantly improve OIN’s services.

The OIN/BUSD pair is now available on Pancake Swap (link here), the decentralized exchange! Users will easily be able to swap between OIN and Binance’s stablecoin (BUSD), improving the liquidity of the OIN token while exposing it to new potential investors and lowering transaction costs. See below for a quickstart guide!

Key Points

Users can use our bridge (https://bg.oin.finance/) to easily swap between the versions of the OIN token on the Ethereum blockchain (ERC20) and Binance Smart Chain (BEP20)
It’s necessary to manually connect BSC Mainnet to MetaMask. It’s a rather easy process, just follow the guidelines of the this blockchain network guide (https://academy.binance.com/en/articles/connecting-metamask-to-binance-smart-chain)
OR- Click on the link below to download the BSC Wallet
(https://docs.binance.org/smart-chain/wallet/binance.html)
The OIN BEP20 address
0x658E64FFcF40D240A43D52CA9342140316Ae44fA
Pancake Swap link (OIN/BUSD)
https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x658E64FFcF40D240A43D52CA9342140316Ae44fA

If you have any doubts or encounter any technical difficulties, make sure to visit our Telegram or Discord groups. Both our administrators and community members will be happy to help.

Integration details

The OIN platform will flourish with this migration to BSC. Improving its stablecoin ecosystem in terms of scalability and prices, the integration will significantly reduce fees and increase the output capacity on both transactions as well as smart contract deployments. This means our clients and users can expect our DeFi services to become faster and cheaper.

The integration was easily facilitated by taking advantage of BSC features and cross-chain technology. The Ethereum Virtual Machine (EVM) was used to port and compile the code, while the Proof-of-Staked Authority (PoSA) consensus mechanism will now be the standard for minting, staking, and yield farming of OIN’s new stablecoin pools for those that utilize the BSC.

We will be exploring the cross-chain functionalities of BSC to expand our reach and possible integration with other blockchains. One excellent example of how OIN is already massively benefiting from cross-chain is the very recently developed bridge between BSC and Polygon (MATIC), another one of our partners.

As we migrate to BSC we will still keep integration with the Ethereum network, due to its effect and wider user and developer base. Older OINDAO pools will remain on the Ethereum blockchain, giving our users the option to create a new pool on either the BSC or Ethereum network. As requested by some of our clients, the new 2.0 version of our staking contracts will also have integration with BSC.

About BSC

Built by one of the leading exchanges in the world, the Binance Smart Chain is a smart contracts platform. It has seen a recent rise in popularity, as many projects are choosing to migrate from Ethereum to BSC due to its high-speed transactions and lower fees. If you want to know more about BSC and how to use it, please refer to the guide below.

Migrating tokens to and from Ethereum to BSC

ERC20 to BEP20

Step 1 — Access the BSC bridge (https://bg.oin.finance/) and click on the top right corner button that reads “Connect Wallet”

Step 2 — A pop-up will appear. Make sure you already have an account on MetaMask and the extension installed on your browser or mobile device.

Step 3 — Once MetaMask is connected, the process is fairly simple. Just input the amount of OIN tokens you wish to migrate to BSC and press the “Transfer” button.

Step 4 — Confirm the transaction on MetaMask. Make sure that, beforehand, you have connected the BSC Mainnet in the MetaMask definitions.

After some processing time, which may take a few minutes, the transfer will be complete.

Reverse Migration

To achieve the inverse, migrate OIN tokens from BSC to the Ethereum chain, we’ll have to go through similar steps. Be sure to have the Binance Smart Chain selected on MetaMask.

Step 1 — Go through the same process and, at the end, it will show a warning in red. Switch to the Ethereum chain on MetaMask and afterwards press the “Release” button.

Step 2 — Confirm the transaction on MetaMask and the process is complete.

About OIN

OIN is a decentralized stablecoin issuance and trading platform. While MakerDao allows only mainstream assets to be used as collateral to issue DAI, OINDAO allows projects, large or small, to issue their own brand labelled synthetic assets that are collateralized by their own coins; in essence, any projects can mint their own stablecoins to participate in the greater DeFi ecosystem. Starting with Ethereum, and gradually expanding to other popular ecosystems such as Polkadot, Avalanche, and Near, OIN is on track to become a one-stop shop for cross-chain stablecoin issuance, trading, and implementation.

With planned off-ramps and use cases such as swapping for other mainstream stablecoins, adding leverage, hedging, lending, and a plethora of ecosystem-specific utility, OIN is expanding DeFi to cover all of the crypto space.