OpenDAO migrates OPEN Tokens to pOPEN in Partnership with pNetwork

OpenDAO is advising customers to stop using the BurgerSwap bridge to convert its ERC20 OPEN tokens to BEP20. The change means that OPEN tokens on BSC will become pNetwork’s pOPEN tokens, replacing BurgerSwap’s bOPEN over time.

By
Robert D. Knight
on
May 3, 2021
Category:
Blockchain News

OpenDAO Responds to Bridge Performance Issues

The decision by OpenDAO came as a result of what it felt were performance issues of the BurgerSwap bridge which OpenDAO has called “extremely unreliable”. The company announced its decision to instead employ the pNetwork bridge in future “which uses more robust infrastructure”.

The revelation came in a recent blog post in which OpenDAO outlined significant issues with BurgerSwap. The announcement went on to state: 

“Conversions of OPEN to bOPEN and vice versa can potentially take hours, even seemingly getting ‘stuck’ for days…. We are advising people to not use the Burgerswap bridge and over [the] coming weeks will begin [the] transition from bOPEN to pOPEN.”


Making the Change

To facilitate the switch from bOPEN to pOPEN, OpenDAO will seed the converter with 10,000 pOPEN at a time. If the pool ever runs low, users are invited to message the OpenDAO team who will top up the convertor as required.

The team at OpenDAO have decided to enforce no cut-off date for switching bOPEN for pOPEN but recommend that users do so quickly, as new reward mechanisms and incentives will be made available only to pOPEN users.


To help users make the change a 1:1 cashbox has been opened on Binance Smart Chain which can be accessed here. Over time OpenDAO expects that all minted bOPEN will convert back to OPEN and will be completely discontinued. To give existing bOPEN holders time to acclimatize to the switch, the bOPEN-BNB farms and Syrup Pools will remain open and active until May 26th and remain eligible for CAKE rewards.

About pNetwork

Source

pNetwork is a well-established name in cross-chain technology. The company has created a suite of cross-chain solutions enabling the efficient movement of digital assets between blockchains. pNetwork is the creation of the oracle service provider Provable Things, with the subsidiary focusing entirely on enabling previously siloed blockchains to communicate seamlessly.

Closing Thoughts

OPEN users on BSC will doubtlessly be encouraged to hear that OpenDAO has sought a more suitable solution for their cross-chain bridge. Now users will have the opportunity to test the pNetwork bridge and see if OpenDAO made the right choice of bridge at the second time of asking.

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Robert D. Knight

Robert D. Knight is an experienced journalist and copywriter who has been working in crypto for 4+ years. His bags are heavy and he also hodls some cryptocurrency.