OPEN BSC token migration to pNetwork bridge
bOPEN and pOPEN are both BSC versions of OPEN tokens.
The lower fees on BSC as compared to ETH allow for greater trade volumes and liquidity.
Minted by locking equal amounts of ERC20 OPEN tokens, bOPEN, pOPEN and OPEN are all equivalents and should represent the same value.
bOPEN uses the Burgerswap bridge which unfortunately has turned out to be extremely unreliable. Conversions of OPEN to bOPEN and vice versa can potentially take hours, even seemingly getting ‘stuck’ for days.
We have made the decision to switch to the pNetwork bridge which uses more robust infrastructure and is quite reliable.
You can bridge ETH based OPEN to BSC based pOPEN here at:
https://dapp.ptokens.io/swap?asset=open&from=eth&to=bsc
We are advising people to not use the Burgerswap bridge and over coming weeks will begin transition from bOPEN to pOPEN.
Please note that there is no reason to worry or any rush to switch. This is simply a stronger solution to allow OpenDAO and our partners to grow.
bOPEN-BNB farms and Syrup Pools will still run until 26th May 2021 and remain eligible for CAKE rewards till then.
After that, we will try and incentivize liquidity providers for pOPEN.
We ask bOPEN holders to use Burgerswap to switch back to OPEN, then use the pNetwork bridge to reenter Binance Smart Chain.
Another option would be to check the price impact and slippage on swapping bOPEN to pOPEN at PancakeSwap if the exchange parameters are acceptable.
A pOPEN-wBNB pool has been deployed on PanCakeSwap as well.
This should make it relatively straightforward to bridge your ERC20 OPEN onto BSC as pOPEN, and trade for bOPEN to participate in existing PCS farm rewards.
There is no cut off date, and you will be able to convert bOPEN to pOPEN at any time. Eventually you will want to switch because new rewards will only be for pOPEN.
This process will allow us to collect all minted bOPEN, to convert back to OPEN, and deprecate bOPEN over time.
OpenDAO Links
Main Site: https://OpenDAO.io
Discord: https://discord.gg/5ZtVDbN2CP
Youtube: https://youtube.com/channel/UCv5O3ANjupSH_yJmdY4o59g
Twitter: https://twitter.com/opendaoprotocol
White Paper: https://opendao.gitbook.io/whitepaper-v2/
Transparency Document: https://opendao.gitbook.io/transparency/
GitHub: https://github.com/opendao-protocols
Telegram: https://t.me/opendao
Facebook: https://facebook.com/OpenDAOofficial
Reddit: https://reddit.com/r/OpenDAO/
pOPEN contract: https://bscscan.com/address/0xabae871b7e3b67aeec6b46ae9fe1a91660aadac5
pNetwork Links
pTokens site: https://dapp.ptokens.io
pNetwork site (governance focused): https://p.network
Telegram: https://t.me/pNetworkDefi
Twitter: https://twitter.com/pNetworkDeFi
More about pNetwork, and their suite of cross-chain pTokens: https://medium.com/pnetwork/crossing-chains-how-ptokens-bring-greater-accessibility-to-the-crypto-space-8e1d353da579
