Binance Bridge 2.0 introduces a brand new solution to bridge listed and chosen unlisted tokens from Ethereum to BNB Smart Chain as BTokens. You can use your wrapped tokens with the BNB Chain ecosystem and discover DeFi, blockchain video games, metaverse, and extra.
We repurposed the beforehand decommissioned Binance Bridge, added new options, and gave it a brand new look to make bridging between Ethereum and BNB Smart Chain simpler than ever earlier than. The authentic Binance Bridge supported solely tokens listed on Binance.com, however with Binance Bridge 2.0, you may stay up for bridging much more tokens, together with a few of the tokens not listed on our alternate. These unlisted tokens can be bridged to BNB Smart Chain as wrapped BTokens and allow you to expertise the decentralized BNB Chain ecosystem.
The most necessary replace is that it is possible for you to to do all of this immediately out of your Binance account with out creating third-party wallets. The listed tokens will find yourself immediately in your Funding or Spot Wallet, whilst you can retailer the unlisted bridged tokens in a brand new self-custody pockets (SCW) inside the Binance App. If you don’t have your SCW but, Binance App will information you thru the method. The important benefit of getting your personal SCW is that solely you’ll maintain the non-public keys.
With Binance Bridge 2.0, you may wrap ERC20 tokens to obtain BEP20 BTokens and instantly begin staking your Ethereum or different supported belongings with DeFi protocols working on the BNB Smart Chain. No extra swaps, excessive charges, or lengthy wait occasions in your transaction to finish. BTokens are pegged on a 1:1 foundation to the underlying asset. You can redeem your BTokens again to the unique asset at any time.
Binance Bridge 2.0 is a trusted bridge protected by the best safety requirements of Binance, working on the BNB Smart Chain with low charges of just a few cents and quick transaction occasions of simply 3 seconds. Binance Bridge 2.0 will assist virtually all Ethereum-native tokens and provide you with direct entry to BNB Smart Chain dApps such because the most-used dApp globally – PancakeSwap. Support for extra blockchains and dApps is coming sooner or later.
This cross-chain bridge considerably improves interoperability between completely different blockchains and provides you direct entry to the world of DeFi on the BNB Smart Chain.