There is an omnibridge BSC-xDAI for them to run the node on xDAI!
It’s a simple example. You can use another’s SPOT exchanges. And, yes, I agree - we need more SPOT exchanges from TIER 2 or TIER 1.
And? Any transfer at this bridge costs ~$150-$200.
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We do. But we also need a cheap DEX. Some users want to make small transactions, but on DEX. And we need another solution for cheap small transactions now, not hypothetically someday when team will have managed a deal with a CEX. Besides gate.io solution is not even official, so potentially risky. There is NO official CEX solution as of now.
Look at latest CZ tweet, they are working in integrating Binance with DEX, and thus PancakeSwap. In the near future, being on PCS will mean being available to Binance.
If we want to be decentralized, we need many small retailers running nodes, so we need to be on a DEX with cheap fees.
No, it costs two transactions. One on BSC and one on xDAI. Both are very low, below $1. You don’t need to make any transaction on ETH Mainnet.
Check Omnibridge documentation.
You can even transfer your BNB automatically to xDAI…
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“Keeping eggs in one basket” is dangerous. I do not agree.
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You speak for everyone now.
I am sure there will be people who would like to transfer the bsc20 5000 Hopr to the Pancakeswap presumptive liquidity pool, where the fees will be cheaper if the exact funds are locked in the pool. And wouldn’t it be cheaper from Uniswap, even taking into account the cost of the bridge?
Absolutely agree, you need to stay on Ethereum (uniswap). Think about when the HOPR Farm ends, most of the holders will run to sell their tokens, and if there is not enough liquidity, the price will drop to zero. Forget about xDai, who will use it, show me at least one person. If you want to trade go to gate.io.
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In the current state of the market, multichain is the key to success!
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Binance Smart Chain,
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Ethereum,
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xDai
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Polkadot, Solana or Matic
shall be our choice!
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Guys, BSC blockchain is must have. All transactions are cheaper there. If we think two steps forward we should think about new ways to transfer tokens from ETH chain to BSC, for example when Binance will list Hopr we can do it through Binance without any big commissions.
You have - Honeyswap (xDai exchange) from genesis time. No one use it.
Some? How much? We have only ~6k total token holders. Honeyswap trading volume is too small.
Yes, it’s a problem. We need oficial CEX solution.
If you want to be decentralized, you can’t use BNB network :)
Ok, my error. BSC<->xDai - ok, it’s worked. But our token network is Ethereum. That’s a main problem. We need bridge transaction to xDai or to BSC.
But the DEX in another network, for me, is not working solution. We can create pool in 1inch (for example). But not in others blockchains.
We have totally 6k token holders. How much from them sends tokens to another networks? I think it will too small percent from total token holders. Remember, how many people did not understand how to transfer their test tokens from xDai network to ETH…
And you still ignored my question about another ERC20, who successfully implement your solution. Do You want to be a first?
Please show me another ERC20 token with small token holders count (~6k) with this multichain support. We are too small to do this split.
When Binance will list HOPR token it will be totally different situation. Now, unfortanlty, we have only one solution to transfer HOPR tokens to another network - the bridge. It is a very expensive solution.
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no one can foresee the future, what to say how many people will transfer to Bsc20.
But one thing is clear, there is now a big problem with the Erc20 network. How long will it last? No one knows. Eth can grow up to $ 10k, and then we will see commissions of $ 100, 200. The cost of blocking liquidity will be over $ 1000. These are just guesses! Just like we don’t know if people will use bsc20.
You’re 100% right - ETH network have a big problem with commissions.
Solutions?
- Wait for june/july ETH patch from Vitalik,
- Wait for ETH 2.0 at the end of 2021,
- Totaly recreate HORP token in others blockchains (new contract).
But the new DEX in the another network is not a solution for this problem now.
Agree with the author. Instead of spend money on multi-chains, you can spend it on Binance listing in future (this is also a costly procedure)
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It depends on the “ideology”. Since there is no official listig on CEXs and the one of the reasons is the privacy issues, I think, this should be taken into account. Also you should think about non-official nature of this CEXs listings: they can delist HOPR anytime (for example, MXC has program for new tokens like HOPR - they list them only for few months, and then they decide what to do next).
And you should take into consideration following:
- You’retalking only about investors with existing HOPR tokens on Eth Mainnet (but if we have other chains/DEXs, we can have more holders in other chains).
- In the next 1-2 months we will have new fast-growing reason to buy HOPR - to stake it. HOPR mainnet will be running on the xDAI chain, not Eth. If you’re small investor and want to stake HOPR, you can be potentially stopped by swap+bridge fees or fees for interactions with CEXs. It would be obvious and very convenient to have the ability to buy HOPR on xDAI chain to have the ability to stake it easily.
This is necessary at least for safety. And “small” buyers are not ready to pay big commissions. But they also do not want to go to centralized exchanges. This will cover a larger audience.
I think this is the best option, since other options with the addition of other decentralized exchanges that do not use Ethereum networks are premature because the commission for transferring across the bridge is colossal, or you need to wait until the gas price becomes double-digit, ahh.
Officially xDAI chain is a temporary solution. We do not know what will be the production network. Or you have offical statement about that?