Moving to Binance Smart Chain + Airdrop update

Plow Team
Plow Team
Feb 15 · 2 min read

Hello Plowers,

We have some major updates:

Binance Smart Chain

After debating options like Tron, Avalanche, Polkadot, and many others, we’ve decided to port Plow over to Binance Smart Chain.

Without getting into all the details, there were a few major reasons why:

Because of erc-20 compatability, we’d be able to reuse most of our code. So that saves us a lot of time in regards to completing the move.

We have team members who have relationships with Binance so there is just a bit of comfort with the organization in general.

Binance’s ecosystem is unmatched in terms of its technical prowess, dependability and support.

We hadn’t shared this publicly, but we’re also working on a DEX. Leveraging BSC will speed up the development and deploying of our DEX while also allowing us to use what we’ve already developed. It’s just the best choice for us even considering how much we love platforms like Avalanche. Be on the lookout very soon for what we’re planning here as we’d like you all to be involved in our pre-launch process.

Airdrop

Because the fees will be so much lower and because we’ll be close to launching our DEX, we won’t need to have a long lock and stake period for the airdrop like we previously imagined. Using BSC will allow us to do a much faster distribution and allow some of those tokens to be trader early without the worry of depleting our LP providers.

Hotbit

For traders that purchased tokens at the pre-liquidation clearing event ($150+ per token), you’ll get the new bep-20 token distributed to you at the equivalent price that you paid for them. So you will not lose any value because of the massive price drop because we removed the liquidity. When we re-launch the new token, the price will be reset on Hotbit and other exchanges. Whoever has PLOW will be converted at equal value.

Just for clarity. Our team and private investors provided all the liquidity. So we pulled our own funds out so that we can move them to Binance. You can’t rug-pull yourself.

Distribution Date: Please don’t ask them every single day. We don’t have a set date. Our plan is to launch the DEX in April and we’ll start distribution at the launch of the DEX. With product launches, it’s definitely to set a firm data weeks in advance. As ERC-20 and BEP-20 use the same addresses, there is no need to send us anything new. As long as you’ve not sent us an ERC-20 address from an exchange, you’re fine.

Thanks for your patience.

Plow Finance

Defi for the masses