What’s the Beldex Binance Bridge and WBDX?
Launching Monday, 31 May, 2021.
Binance Smart Chain is one of the fastest-growing blockchain platforms today. The Binance Smart Chain (BSC) boasts around 180 projects listed on CoinMarketCap. The BSC ecosystem is compatible with the Ethereum Virtual Machine and has smart contract functionality, which is an ideal environment for Decentralized Applications (DAPPs) to thrive. With a 3 second block generation time, it is also faster than the Ethereum chain.
Many projects have transitioned to the BSC ecosystem. Thus, considering the benefits that the BSC ecosystem provides to the crypto space, and to make the Beldex chain interoperable with its counterparts, the Beldex team has bridged the Beldex Chain to the Binance Smart Chain. Now, as both chains are interoperable, you can swap BDX for WBDX on BSC and vice versa.
What is WBDX?
WBDX (Wrapped BDX) is a token on the Binance Smart Chain. It follows BSC’s BEP20 token standard. Each WBDX on BSC is pegged to a BDX token on the Beldex Chain. You can swap BDX for WBDX on a 1:1 ratio, meaning, if you swap 1000 BDX tokens, then you will get 1000 WBDX tokens in return.
Though WBDX won’t retain the privacy features, it will produce significantly faster transactions. It will also gain additional use cases on BSC platforms.
How to Swap BDX for WBDX?
You can swap BDX for WBDX on the Beldex-BSC Bridge. The Beldex bridge is integrated with Metamask and Binance Smart Chain wallet.
To swap BDX for WBDX, you should first create a wallet account on either of these wallets. Download the respective wallet extension for your browser.
Then connect your wallet extension to the Beldex-BSC bridge by logging in to it. Then, follow the instructions on the screen to complete the swap.
For a more detailed step-by-step process, read our blog on how to swap BDX for WBDX.
Where can I store WBDX?
There are multiple wallet options for WBDX. You can store it in almost all the wallets that support BEP20 tokens. A few include Trust Wallet, Metamask, Binance Smart Chain Wallet, etc.
Is the Beldex Bridge Safe?
The Beldex bridge is secure as it is monitored by the Beldex team. Your every transaction is verified and confirmed to ensure that you received crypto funds. We ensure that your funds are always safe.
What else can I do with WBDX?
WBDX is a faster alternative in the BSC eco, without the privacy of BDX. However, after the Beldex-BSC bridge goes live, WBDX will be listed on a few platforms on BSC. The first of these is PancakeSwap, a leading decentralized exchange (DEX) on the Binance Smart Chain network.
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