Introducing the PSP token on the Binance Smart Chain

The very first vote of the ParaSwap DAO decided which chain PSP should be first launched on. Since then, the team has been researching the best infrastructure to bring PSP on several EVM compatible chains in a safe and reliable manner.

Today, the team is glad to introduce the PSP token on the Binance Smart Chain. This article will guide you through the bridging process accessible directly on the ParaSwap website and provide all the necessary information regarding PSP on BSC.

The token contract address for BSC is the same as mainnet: contract for PSP on BSC: 0xcafe001067cdef266afb7eb5a286dcfd277f3de5

Bridging PSP Ethereum ↔️ BSC

PSP can be safely bridged using the Celer Bridge, and the operation takes between 5 to 20 minutes.

Using the bridge for the first time will require an “allow” transaction. To make it easy for new users, the bridge also delivers 0.002 BNB along with the bridged PSP tokens.

PSP Liquidity on BSC

Initial liquidity has been supplied to the PSP/BNB Pancakeswap pair. Liquidity sources for PSP will be integrated into the pool UI on the ParaSwap website.

To get PSP directly on the Binance Smart Chain, you can of course use ParaSwap to swap some BNB or others tokens to PSP.

Please be aware that initial liquidity might be limited, watch for the price impact!

More chains are coming for PSP!

This is the first release for PSP on a sidechain. Polygon will follow suit shortly, as well as Avalanche once the volume requirements for the ChainLink oracle have been met.

The discussion also started to bring PSP to a L2 with Deversifi. This will not only provide additional liquidity for PSP but also enable fast withdrawal to other L2 or sidechains like Polygon.