FireProtocol to Integrate Binance Smart Chain (BSC) for BEP2 Asset Wrapping
With the continuous growth of BSC ecosystem, and raising gas fees on Ethereum, FireProtocol is thrilled to announce that we will integrate BSC using our Cross-chain technologies and support BEP2 Asset Wrapping.
Binance Smart Chain (BSC) is based on a Proof of Staked Authority (PoSA) consensus mechanism and features instant finality with short block times and low gas fees. BSC enables smart contracts into the Binance ecosystem, along with EVM compatibility that enables Ethererum developers to easily port their applications over to BSC. As a result of rising gas fees on the Ethereum network pricing smaller players out of the market, BSC’s cheap network fees and EVM compatibility, BSC has become a rising alternative to Ethererum.
Fire Protocol applies innovative cross-chain technology to bring hundreds of digital assets onto the HECO Ecosystem and other chains. In order to support the integration of BSC, FireProtocol will build a cross-chain to wrap HECO assets into BEP2 assets, and vice versa. By doing these, HECO and BEP2 assets can be easily wrapped and exchanged.
As part of this integration, and thanks to the powerful functionalities of BSC Bridge & FireProtocol Cross-chain technologies, BSC will also be used as a cross-chain hub, enabling easy access to assets originating from foreign networks, like Ethereum, Polkadot or Tron etc.
The integration with BSC is only a periodic milestone of FireProtocol’s continuous product upgrading and technical development. More exciting deliveries are on the way.
More will come, stay tuned 😎
About Fire Protocol
Fire Protocol is the first infrastructure to Huobi Eco Chain (HECO), the first batch member of developers invited to test HECO (an Ethereum compatible Public Chain for Blockchain Developers).
Key products are:
⁃ DEX/Swap: Fireswap is fast and secure trading service; Liquidity Mining
⁃ Cross Chain Wrapping solutions to bring non-Huobi Chain assets via into the Huobi Ecosystem from various chains; eg Ethereum, Tron, Polkadot (soon)
⁃ Money Market with Lending and Borrowing ; fully integrated with our DEX > Liquidity Providers’ token on our DEX serve at the same time as collaterals on borrowing/ lending protocol
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