AnySwap and Auctus Partnership Enables $AUC Bridge on Binance Smart Chain

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.

By
Ahamdi Abarikwu
on
April 27, 2021
Category:
BSC News


What Is A Bridge?

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.


Why the Need for an Auctus Bridge?

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. 


What To Expect From The Partnership

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. 


How To Use The New AUC Bridge

Source: Auctus

To move AUC tokens from Ethereum network to Binance Smart Chain, follow these simple steps, 

  • Go to the link for the bridge: https:// anyswap.exchange/bridge;
  • Choose BSC Mainnet
  • Connect your wallet
  • Under Deposit, click the dropdown menu and select AUC.
  • Enter the amount of AUC you want to transfer. 
  • Click on Cross-chain Deposit to receive BEP-20 AUC in your wallet.


How To Trade AUC on Binance Smart Chain

AUC has been listed on PancakeSwap as the official BSC trading platform. The steps for buying or selling AUC on BSC are as follows,

  • Visit the Pancakeswap website. 
  • Click on 'Connect' to connect your wallet. 
  • Select a pair of tokens (that is, AUC and another token) you want to swap from and to, and their amounts.
  • Click on 'Swap' to process the transaction. 

 

About Auctus

Source

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:

Website

Discord 

Twitter 

Telegram 


More About AnySwap

Source

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:

Website

Medium

Twitter

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Ahamdi Abarikwu

Ahamdi Abarikwu is an Electrical Engineer and a lover of anything crypto. He is also an avid writer, proofreader and editor. He loves to play Scrabble in his spare time.