A bridge, in blockchain terms, is a connection between two otherwise incompatible blockchain networks. The most common purpose for creating bridges is to make it possible to move a crypto token across blockchains. The cross-chain transfer of crypto assets makes it possible for a Decentralized Application (dApp) to have use in multiple blockchains. The result is that users of the dApp and holders of the cross-chain tokens can derive benefits on one blockchain that may not be available on another blockchain.
The Auctus Project was initially designed for the Ethereum blockchain, but in announcing the partnership with AnySwap, the Auctus Team said the creation of the bridge was in response to the desire of their community. According to the team, many Auctus users could no longer trade the AUC because the high transaction fees experienced on the Ethereum blockchain became unaffordable. Users often experienced having to pay fees that are higher than the value of the traded tokens, creating frustration for investors.
With the Auctus bridge provided by AnySwap, users can exchange their ERC-20 AUC tokens into BEP-20 AUC tokens and vice versa. Consequently, BEP-20 AUC token has been listed on the largest BSC DEX, Pancakeswap. The Auctus community would now be able to trade at their convenience on the world's largest DeFi incubator, the Binance Smart Chain. Auctus traders on BSC will enjoy the benefits of fast transactions whilst paying very minimal fees compared to what is obtainable in Ethereum.
Apart from users' benefits, the Auctus Project will see more liquidity because of its Ethereum and BSC cross-chain interoperation. AnySwap will also see its asset platform strengthened. Thus all stakeholders stand to benefit from the partnership.
To move AUC tokens from Ethereum network to Binance Smart Chain, follow these simple steps,
AUC has been listed on PancakeSwap as the official BSC trading platform. The steps for buying or selling AUC on BSC are as follows,
Auctus is a decentralised non-custodial options protocol. It enables users to transact options in a trustless way without the need for a third party. Auctus Protocol has a line of products, including an options decentralised exchange and options automated market maker. The AUC token is officially listed on Uniswap and 1Inch for Ethereum, and PancakeSwap for Binance Smart Chain. More information about Auctus Protocol can be found on the platform's official links:
AnySwap is an open-source, decentralised protocol that enables crypto assets to be directly swapped from one blockchain to another in a very secure manner. Presently, AnySwap supports the swapping of more than 200 crypto-assets across 11 blockchains.
Launched in July 2020, the protocol is continually expanding to accommodate more tokens/chains in order to facilitate trading in DeFi.
For further details about AnySwap, see the following links:
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The first exploit covered by Rekt News, done in November 2020, was a flash loan that resulted in a $7 million loss. On May 5th, a new exploit occurred on the vBWAP/BUSD LP due to losing a line of code caused by “human error.” It didn't stop there, on May 7th vSwap contract was exploited draining 11M from its pools. In total these hacks resulted in over 20,000,000 of lost funds due to smart contract risks.
The ensuing investigation details are taken from the RektNews analysis of what went down with the code exploit:
During the setup of the profit-sharing vStake pool, the code was not written from scratch but migrated from the old implementation of the Value DeFi Reserve Fund. The original implementation had the correct setting, but when merging the code, the line was not included.
The latest hack on May 7th at 07:41:39 PM +UTC has drained 11M USD from the vSwap contract liquidity pools. Another blockchain-based security organization also released a medium post detailing what may have transpired with the code— an incorrectly weighted constant product invariant calculation.
From the technical analysis of what may have transpired with the code according to Peckshield;
“The root cause behind this attack, the vulnerability stems from the improper use of a complex exponentiation power() function, which unfortunately lies in the critical path for invariant calculation and enforcement. Confirming Rekt News “Human Error” identification of the problem. Peckshield also suggest to make the assumption explicit in the power() function by adding the following requirement: require(baseN >= baseD)!”
ValueDefi released this Tweet an hour ago, indicating that they are working with PeckShield Inc and Certik to analyze the root cause of the exploit.
Once again, the Binance Smart Chain (BSC) community has been reminded of the vulnerability of smart contract codes. A new day seems to come with a new code exploit, a pool draining, or a rugpull event done. The ecosystem is threatened with this type of event becoming rampant in recent times.
Does it show us weak contract codes, lazy teams, or better ways to strengthen the blockchain security systems further? Whatever the right answers may be, it shouldn’t come with repeated loss of funds for DeFi users.
Join the rest of the community to keep an eye on funds movement in the wallet.
SafeStar is a frictionless yield and liquidity generating protocol that works by applying 10% fees for each transaction. These transactions are subsequently split into two, 5% to locked liquidity, the remaining 5% distributed among holders.
This creates a system where token holders get rewarded without doing anything. Users must simply hold SafeStar tokens in a compatible wallet and they can watch their balance grow automatically, in a frictionless manner. The platform also incorporates a lottery system where users can catch fun for reward.
SafeStar token is integrated with a burn mechanism that tax 10% of the total amount per transaction, of which 5% goes to a locked pool and the remaining 5% split to stakeholder. This will help to reduce the total number of tokens in circulation over time. According to the statistics obtained from the website, a total number of 443,819,739,166,317 SafeStar tokens have been burned to date.
Earn passive income by the embedded RFI mechanics in the token. The RFI mechanics are responsible for the auto reward system that increases your balance. Whenever a transaction is done, whether a transfer between wallets, or a trade, SAFESTAR is split into two, where it is auto-locked and auto rewarded to holders.
Unlike most RFI based and deflationary platform without a working product, SafeStar has a native active lottery system with a weekly raffle draw held every week.
An active game is currently live and will end in 48hrs. A total of 500 million $SAFESTAR is required for entry and 150 billion $SAFESTAR token up for winning participants.
Fees generated from the lottery system are split into two; one part goes to the charity, which is currently around 0.9689 BNB, approximately $604 in today’s rate, and the constant burn of the tokens 51 billion $SAFESTAR.
Taking an assumption that the ticket price is 100 $SAFESTAR
The lottery system will add to the auto passive income generating medium of SafeStar for holders who have a high-risk appetite and wants to add up to their holding.
As part of the token growth and the SafeStar project expansion, the token has been listed on P2PB2B, one of the top crypto exchanges. This exchange offers that boast more than $600 million in daily trading volume. $SAFESTAR is also active on PancakeSwap and Bitmart.
The platform reached a new milestone; more than 44% of the Total Supply has been burned forever, a whopping $18,40,311. More burns are expected as the number of holders reaches a new level—a strategy to continue reducing the total supply of the tokens.
The platform features both deflationary and RFI mechanics. Each transaction is taxed with 10%, 5% goes to the PancakeSwap locked LP pool, and the other 5% is split with holders.
The deflationary tokens can earn you up to 80% in the Annual Percentage Yield (APY), higher than any traditional system.
An extensive number of the Q2 roadmap has been achieved;
What’s left of Q2 will be the R&D of various dApps, including Non-Fungible Token and other decentralized instruments.
As you can observe, marketing has been activated to promote the platform, YouTube influencers, and various marketing campaigns. Incorporating Non-Fungible Token (NFT) technology(marketplace) will bring it up to speed with other DeFi protocols that have implemented certain forms of NFTs in their systems.
Governance voting will be the next phase of development for the platform. The major decisions for the protocol will be placed in the hands of the community. Other beneficial features will be decided by the community when this goes live.
Passive generating income by doing nothing else than holding in your wallet is the safest type of DeFi stake we can find around.
SafeStar Lottery System sets it apart from other deflationary and RFI-based systems without a use case. Full-scale marketing has started for the project, and it is gradually becoming a phenomenon with the corporation of influencers from Twitter and Youtube. Holders should expect to see bigger moves from the team in the future.
Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC, it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
Users who wish to learn more about SafeStar should check out the following resources and media pages:
In a bid to improve the trading experience of users of its platform, the non-custodial options trading platform, Auctus, has opened a bridge to the Binance Smart Chain (BSC) through a partnership with AnySwap. This will allow users of BSC to bridge between Auctus and the network, creating more opportunities for investors.
A bridge, in blockchain terms, is a connection between two otherwise incompatible blockchain networks. The most common purpose for creating bridges is to make it possible to move a crypto token across blockchains. The cross-chain transfer of crypto assets makes it possible for a Decentralized Application (dApp) to have use in multiple blockchains. The result is that users of the dApp and holders of the cross-chain tokens can derive benefits on one blockchain that may not be available on another blockchain.
The Auctus Project was initially designed for the Ethereum blockchain, but in announcing the partnership with AnySwap, the Auctus Team said the creation of the bridge was in response to the desire of their community. According to the team, many Auctus users could no longer trade the AUC because the high transaction fees experienced on the Ethereum blockchain became unaffordable. Users often experienced having to pay fees that are higher than the value of the traded tokens, creating frustration for investors.
With the Auctus bridge provided by AnySwap, users can exchange their ERC-20 AUC tokens into BEP-20 AUC tokens and vice versa. Consequently, BEP-20 AUC token has been listed on the largest BSC DEX, Pancakeswap. The Auctus community would now be able to trade at their convenience on the world's largest DeFi incubator, the Binance Smart Chain. Auctus traders on BSC will enjoy the benefits of fast transactions whilst paying very minimal fees compared to what is obtainable in Ethereum.
Apart from users' benefits, the Auctus Project will see more liquidity because of its Ethereum and BSC cross-chain interoperation. AnySwap will also see its asset platform strengthened. Thus all stakeholders stand to benefit from the partnership.
To move AUC tokens from Ethereum network to Binance Smart Chain, follow these simple steps,
AUC has been listed on PancakeSwap as the official BSC trading platform. The steps for buying or selling AUC on BSC are as follows,
Auctus is a decentralised non-custodial options protocol. It enables users to transact options in a trustless way without the need for a third party. Auctus Protocol has a line of products, including an options decentralised exchange and options automated market maker. The AUC token is officially listed on Uniswap and 1Inch for Ethereum, and PancakeSwap for Binance Smart Chain. More information about Auctus Protocol can be found on the platform's official links:
AnySwap is an open-source, decentralised protocol that enables crypto assets to be directly swapped from one blockchain to another in a very secure manner. Presently, AnySwap supports the swapping of more than 200 crypto-assets across 11 blockchains.
Launched in July 2020, the protocol is continually expanding to accommodate more tokens/chains in order to facilitate trading in DeFi.
For further details about AnySwap, see the following links:
