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DeFiChain to connect with BNB Chain via a decentralised bridge

DeFi

invezz.com 27 April 2022 14:32, UTC
  
Reading time: ~2 m

DeFiChain, a decentralized proof-of-stake (PoS) blockchain forked from the Bitcoin network and targeted at enabling DeFi applications on Bitcoin, has announced integration with the BNB Chain via a new decentralised bridge dubbed DeFiChain Bridge.

Per the platform, the bridge will connect DeFiChain with the BNB Chain, Binance’s blockchain ecosystem and offers users a chance to leverage fast, secure, and low-cost liquidity transfer.

With the DeFiChain Bridge, BNB Chain users will have access to easy and secure token swap capabilities, with new opportunities available for both arbitrageurs and staking optimizers in the ecosystem.

The expansion onto the Binance network also offers DeFiChain an avenue to pull in new capital, especially with seamless cross-chain transactions.

 It has never been easier to enter the DeFiChain ecosystem from the BNB Chain. Now it’s possible for the BNB Chain investors to access DeFiChain’s high rewards and decentralized stocks. That allows users to leverage the benefits of both worlds without the need for centralized exchanges and the tedious processes involved in setting up the necessary accounts and credentials” 

Dr. Daniel Cagara, the Lead Project Owner of DeFiChain Bridge. 

The DeFiChain token DFI will be the bridge’s asset transfer channel, with users able to lock DFI and mint wrapped DFI on the BNB Chain. Users will also have the opportunity to convert the wrapped tokens to BNB or other assets as they wish.

DeFiChain plans to introduce a direct bridge to the Ethereum network in the next few months.


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