BOSAGORA links to Binance Smart Chain
BOSAGORA has decided to link with Binance Smart Chain (BSC) to expand the ecosystem and increase interoperability with multiple blockchain networks. This will enable BOA to be used in the Ethereum (ERC-20) ecosystem as well as Binance’s BSC (BEP-20) ecosystem.
What is Binance Smart Chain (BSC)?
In September 2020, BSC was created to expand the Binance ecosystem by discovering promising projects through smart contracts. Six months later, the BSC ecosystem is largely defined by more than 180 DeFi, decentralized exchanges, NFTs, games, and Dev. projects. In particular, it is compatible with the Ethereum Virtual Machine (EVM), so it has excellent scalability. The environment for developers is also efficiently structured, and it has recently been receiving great attention from various projects. Compared to the end of last year, the recent transaction volume has surged more than 10 times, and the daily trading volume of Pancake Swap, the flagship service, has risen to third place among all decentralized exchanges in the world. BSC can be said to be one of the new trends in the blockchain industry.
BEP-20 based BOA Token Issuance
To link with Binance Smart Chain, BOSAGORA has issued a new BEP-20 based BOA of Binance Smart Chain. The number of new issuances is 400,000. In order not to change the total amount of BOA issuance, 400,000 ERC-20 BOA has been placed in the lock-up account and frozen. Depending on the demand within BSC, BEP-20 BOA will be issued further.
The newly issued BEP-20-based BOA will be distributed in the ‘Pancake Swap’, the DEX that boasts the highest liquidity and usage within the Binance Smart Chain. By supplying BOA liquidity to the Pancake Swap, you can freely swap with other BSC coins, and even yield farming using BOA will be possible.
BOSAGORA initiates exchanges with the BSC ecosystem through the issuance of a new BOA based on BEP20. This means that the services available to the holders of the two ecosystems will increase, and the areas where they can cooperate and create synergies are broadened.
A More Connected World, Greater Possibilities
BOSAGORA will show scalability to a larger ecosystem through linkage with Binance Smart Chain. Through Pancake Swap, the largest decentralized exchange in the BSC ecosystem, a win-win with various coins will be possible. In addition to Pancake Swaps, BOA holders can use various services within the BSC ecosystem. Besides, in the long run, the possibility for BSC token holders to be introduced into the BOSAGORA ecosystem such as T-Fi opens up.
Numerous projects around the world are joining forces to connect and integrate various blockchains. We plan to expand the ecosystem of BOSAGORA through this connection with BSC, as well as develop it so that BOSAGORA can interact with more ecosystems and have a wider coin utilization value by taking this as a starting point.#crypto #cryptocurrency #blockchain #boa #BOSAGORA #announcementbinancebscdecentralizationpancake swap