Plow Finance
Published in

Plow Finance

Moving off of Ethereum

Hello Plowers,

A major update:

We’re likely going to move from Ethereum over to Binance Smart Chain. The spike in gas fees has made the Ethereum blockchain practically useless at this point. The gas fees are so high at the moment, that the fees are higher than the rewards for the contests we ran over the last 2–3 weeks. The gas fees make it impossible for us to complete our airdrop. In many ways, the gas fees alone have slowed up our progress and we’re concerned that there might not be any short-term solution. We can’t wait until ETH 2.0 is implemented to the point where the gas issue is resolved.

We never imagined they’d increase this much and stay this high for so long at the time we started building Plow a few months ago.

We’re investigating several blockchains at the moment, but we’re confident, at this point, that we’ll likely move to BSC. We’ll likely make that decision over the next couple of days.

Don’t be alarmed by us removing liquidity from Uniswap. Our team members and early investors control pretty much all the Plow supply and we all agreed just pulling the liquidity was the best thing to do as we start the move to another chain.

Thanks for your continued support.

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store