It may not come as a surprise to many, but we wanted to officially announce Binance Smart Chain (BSC) as our first multi-chain integration with ZeroSwap. Even though this is public information we wanted to take some time to:
- Explain what attracted us to Binance Smart Chain
- How BSC fits into our vision as a Multichain DEX Aggregator
- Launch our huge integration competition worth $5000
What is Binance Smart Chain?
Binance Smart Chain (BSC) helps bring DeFi into Binance’s blockchain ecosystem. Stablecoins, lending pools, DEX aggregators, wrapped Bitcoin and many more use cases can be built on BSC. It works in parallel with Binance Chain and is Ethereum Virtual Machine (EVM) compatible.
The following are the main attributes of Binance Smart Chain :
- EVM Compatible
- Proof of Staked Authority consensus: A variation of Proof of Stake
- Block time 5 seconds: faster than Ethereum’s 13 seconds.
- Cross-Chain Transfer: Coins can be exchanged between the two blockchains using a bridge.
- Cross-Chain Contract Event (Trade, Transfer)
- Supports existing Ethereum tooling such as MetaMask, Remix, and Truffle
- BEP20 tokens modelled similar to Ethereum’s ERC20 tokens
What attracted ZeroSwap to Binance Smart Chain?
With its close compatibility with Ethereum, its in-production blockchain and the fast-growing ecosystem it seemed like a no-brainer for us to choose to integrate BSC directly alongside Ethereum. We spotted a couple of major opportunities in the BSC ecosystem that ZeroSwap will be planning to tap into.
The first is that our goal is to create the largest multichain DEX aggregator.
Right now, the current situation for trading on DEXs is:
- Mostly limited to ERC20 tokens, since most of the DEXs are on the Ethereum network and support only Ethereum tokens.
- There is no multichain DEX protocol allowing for multichain trading
- There is little to no volume or liquidity for non-Ethereum DEXs and our unified platform will allow liquidity to more freely flowing from one chain’s DEXs to another. Leading to a point in the future where we could see cross-chain swaps.
Helping bring increased liquidity to BSC is a key aim for us over the coming months.
The second key focus area for ZeroSwap is the current uneven playing field of decentralized token offerings in the following ways:
- Retail buyers often struggle with the complexity of DEXs to buy newly-listed tokens.
- The initial offering on DEXes is almost solely limited to ERC20 tokens
- Most recent DEX token listings resulted in low liquidity, token prices going extremely high, with trading bots being the first to buy and retail buyers only being able to come in much later at a higher price
- Because there is little other option to find liquidity most tokens have chosen ERC20 and cannot easily list on other chains like Binance Smart Chain from day one.
ZeroSwap will allow fee-free, gas-less trading on multiple chains all from one interface. We will also offer fair DEX token offerings, allowing projects to launch tokens on multiple chains simultaneously. We are excited to start this journey with Ethereum and BSC.
Competition to Earn $5000 of BNB and ZEE
As a celebration of us joining the Binance Smart Chain ecosystem we want to host our biggest competition to date. We are giving away $5000 worth of BNB and ZEE tokens.
We would like to announce our entrance into the BSC ecosystem with a bang, so here’s how you can get your hands on the competition prizes.
For a chance to win $2500 $BNB and $2500 $ZEE — split between 10 winners
1. Join our Telegram group
2. Follow @ZeroSwapLabs on Twitter
3. Retweet the competition, Tag @ZeroSwapLabs and #BinanceSmartChain with your favourite project on Binance Smart Chain.
Winners will be announced October 9th Midday UTC and the rewards will be distributed within 30 days of competition end.
ZeroSwap + Binance Smart Chain = 🔥
About ZeroSwap
ZeroSwap.io is a Multi-Chain, Zero-fee, On-chain Trading protocol with Liquidity Mining, DeFi Token Offering, and DEX Aggregation. The protocol will reward users every time they make an on-chain trade and provide liquidity to existing DEXes. All transactions would be Gasless with Zero Trade Fee.
Read more —
