Bridgr Ascendant

Team Polkalokr
Nov 24 · 3 min read

Binance loses users en masse; Polkalokr’s bridge solution offers the answer.

Binance Smart Chain has suspended development on their bridge in favour of proffering its in-app bridge. Its decision to make KYC (“Know Your Customer” — i.e. identity verification) mandatory undercuts the spirit of decentralisation for many users who wish to retain anonymity.

It seems not everyone is on board with joining the centralised network now offered by Binance simply to transfer their assets over. While many projects use Binance’s solution to move assets over to Binance Smart Chain, Binance’s decision has engendered fallout, with 3% of users bailing on the network.

There are alternatives. For instance, users have the option to use a bridging project online. More often than not, however, the fees are exorbitant, and, unfortunately, most platforms have not carried out the security checks required to roll out a secure bridge (such as auditing or running bug bounty programs). Knowledgeable users dread using these kinds of bridges as the risk of losing their assets is all too real.

Thankfully, we’ve come up with a solution.

Bridgr: Simplicity and Beyond

Bridgr is our in-house bridge that enables users to transfer their cryptocurrencies across three supported chains: Ethereum, Binance Smart Chain and Polygon. Transacting with bridges usually involves a tedious two-step process: users execute two transactions when depositing and claiming assets from the bridge contract, piling up fees along the way. To save money and time, Bridgr significantly streamlines this process and enables users to easily deploy a multichain bridge without prior coding knowledge.

One of the exciting aspects of Bridgr is that we’re offering it as a white label solution. This means projects can go multichain whilst providing a consonant experience to their users. We’re fully confident Bridgr delivers the most advantageous solution to token economics across the crypto space. Click here to discover how projects can do more with Bridgr.

For now, Bridgr is exclusively available to the $LKR community, but we can’t wait to release it to the public as a Decentralised Bridge as a Service (DBaaS)! If you’re just as eagerly anticipant as us, however, the testnet is still live . Why not go ahead and practice forging your own bridge and witness the beautiful simplicity of our solution for yourselves?

As a final note, in the spirit of giving here’s a little secret: the first few projects to utilise our DBaaS are in for a surprise! We won’t spill the beans just yet, but be sure to check out Bridgr and keep up with our socials to find out more.

About Polkalokr

Polkalokr is the first all-in-one, multi-chain token locking and escrow platform with built-in privacy functionality. Its products — Lokr, Swapr, Bridgr and Mintr — help build trust within the DeFi space by removing the human element and focusing on governance through code, with a seamless, omnichannel digital experience platform.

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