BinanceBNB Chain is now live on Hyphen for instant cross-chain transactions for Ethereum, Polygon and Avalanche
BNB Chain transfers are now live on Hyphen, in addition to three new liquidity reward pools. With Hyphen, users can send faster, more capital efficient transfers with ultra-low fees, thanks to our dynamic fee model. The addition of BNB Chain, further increases the interoperability across chains allowing users to interact with a greater number of decentralized applications (dApps) simply and without friction, helping bring Web3 to mainstream users.
“It is clear the future of web3 is multichain and will be necessary to onboard the next billion users. For this to become a reality Layer 1s, side chains and other scaling solutions need to be integrated. This removes friction for the end-user and makes interacting with crypto a more seamless experience. Hyphen provides this fast, seamless bridge that provides the infrastructure needed to ensure a collaborative and connected web3,”
Ahmed Al-Balaghi, CEO & Co-Founder of Biconomy
The future of cross-chain transfers on Web3
Of the many benefits that it has to offer, Hyphen addresses the issue of low composability and weak network effects experienced on native bridges. Thus, improving the end-to-end experience and integration capability for both users and developers alike, which we’ve successfully done for ZED RUN, as an example.
Over $130 Million in Volume
Currently, Hyphen has a unique user count of 20,797 a number expected to increase significantly with the addition of BNB. To date it has channeled a total volume of $138,236,012 between chains.
Transfers are not the only benefit this integration will provide. In addition, liquidity providers will be able to earn fees and $BICO rewards for adding liquidity to BNB. The pools eligible for rewards include ETH, USDC and USDT.
Each pool has a cap and once this is reached new users won’t be able to contribute, ensuring a more even contribution across Biconomy pools.
BNB Chain is the combination of Binance Chain and Binance Smart Chain. It aims to put the community first by delivering core infrastructure that is aimed at increasing user adoption of decentralized tools.