OpenSwap Bridge Pilot is live!
We are thrilled to announce that the OpenSwap Bridge has officially launched its pilot phase! This means that you can now transfer your $OSWAP tokens between the BNB Smart Chain and Avalanche.
Reaching this milestone has been quite a journey, and we would like to express our gratitude to the Troll Fam for their unwavering support. Thanks to your contributions, we now have 5 Green Bridge Trolls who are actively validating and maintaining the network. If you would like to join our efforts, please visit our website to learn how you can contribute.
The primary goal of this pilot phase is to verify the stability of the network on the mainnet and expand to additional chains before extending support to other project tokens.
Greetings from the OpenSwap Pilot Bridge!
Our bridge provides a means to migrate $OSWAP tokens between the BNB Smart Chain and Avalanche. This bidirectional bridge leverages the lock and release approach, utilizing liquidity provided by the community to the Bridge vaults. As a result, liquidity providers are rewarded with a portion of the fees collected by the bridge.
Currently, the bridge is powered by a trio of Mean Bridge Trolls and 5 Green Bridge Trolls who are working collaboratively to ensure the security of the bridge vaults. To learn more about each role, please visit see our docs. The maximum size of a bridge transaction is determined by the amount of bond staked into the Mean Bridge Trolls and the amount of Liquidity in the target chain Bridge Vault. During the pilot phase, the maximum number of $OSWAP tokens per transaction is hardcapped to 30,000. This limit is in place as a precaution and may be removed in the future.
What’s Next?
Our core team is committed to expanding our capabilities by supporting additional chains, with Arbitrum emerging as the front-runner based on our analysis of chain activity. We’re always eager to hear from our community, so please don’t hesitate to let us know which chains you’re most excited to see bridged!!
How can you help?
Our Troll Fam has provided an incredible level of support, and we welcome any additional contributions from those who are interested. Here are a few ways that you can get involved:
- Stake your $OSWAP tokens to mint an NFT.
- Stake your NFT with a Green Bridge Troll to assist with network validation.
- Add liquidity to the bridge vaults by contributing $OSWAP tokens.
- Attempt to bridge your $OSWAP tokens from BSC to AVAX (there may be rewards involved!). Here is a quick tutorial.
Let’s Celebrate!
Prepare your $OSWAP tokens because it’s time to celebrate! In honor of the grand opening of our pilot phase for the OpenSwap Bridge, we’re hosting a Fixed Staking event on AVAX on May 8, 2023. Don’t wait any longer — start bridging your tokens today.
About OpenSwap
OpenSwap is the world’s first DEX providing on-chain swaps at zero slippage with hybrid smart routing, and an ANY-to-ANY single asset cross-chain bridge. As the DeFi universe continues to expand, liquidity becomes increasingly scattered across multiple chains and the situation is poised to get worse as new chains emerge with individual DEXs on each chain. OpenSwap aims to become every crypto project’s BFF through a set of key offerings that will empower teams to establish funding and sustained token health, allowing teams to focus on what they do best — BUILD.
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