BSCChain - Wrapped ERC20s to BEP20s

General
1

Binance Pegged
A fellow DN holder brought this to my attention. Not sure if many people already knew about that Binance Smart Chain Scan (same team as etherscan) is now open, but something that we couldn’t help but notice was some of the verbiage when digging through it.

There are smaller Total Supplies and Circulating Supplies of a number of Cryptos favorite tokens found and look at that language they use.

“Tokens that are wrapped and pegged by Binance on a 1:1 ratio to the corresponding native token. Also supports BEP20 token deposits and withdrawals at Binance.com”

This seems like RenVM could be doing this work for Binance, or rather we SHOULD be doing this work for Binance. It could be also be possible that that they are taking custody themselves and pegging 1:1 in various wallets of their own, but this would present RenVM with a very large opportunity if we were their decentralised wrapping solution.

What do you all think?

4 Likes
2

Isn’t Binance one of the chains to be added next month?

3

@FanaticalFishing I don’t know about next month, but Binance Chain certainly has been mentioned in Telegram and other mediums as a potential integrator.

4

Binance Smart Chain will be coming to RenVM as part of the next major release! As usual, though, no deadlines will be made public until closer to the release.

2 Likes
5

Are you going to bring only BTC or other assets too?

6

Other assets will be available too. In general, all assets that we support should be available on all chains that we support.

4 Likes
7

Would this include stable tokens like Tether, RSV, or DAI onto other layer 1 chains? Being a fiat onramp I think could be a large flow of funds to bridge.