A bridge to the wider world: The MUNCH Binance bridge is now live!
MUNCH announces bridge to the Binance network and listing on Pancake Swap.
MUNCH project is delighted to announce that we have made MUNCH more available and more accessible than ever by creating a ‘bridge’ to the Binance Smart chain. This bridge means MUNCH is now listed on Pancake Swap and available for trading!
Using the Binance Bridge service, you can now convert crypto assets on the Binance Chain/Binance Smart Chain for MUNCH. See how to do it here.
For example, if you transfer USDT from Ethereum to Binance Smart Chain, Binance Bridge will support the cross-chain conversion of Ethereum ERC-20 to Binance BEP-2 or BEP-20. The Binance Bridge charges zero conversion fees. You’ll only need to pay network transaction fees on the blockchains that you are converting between.
We’re delighted to announce this milestone and look forward to the next steps it will help us reach.
A new community to reach
One of the advantages of listing on the Binance network is that investors can take advantage of far lower fees than are currently charged on the Ethereum network, using Uniswap.
This means investors looking to buy lower amounts of MUNCH don’t see their investment swallowed by fees. This opens up the world of MUNCH to a new audience of retail investors that are discovering the world of DeFi. The philosophy behind MUNCH is that community power accumulates into major impact so we expect this new community to have a major impact on our goals and causes.
Another advantage is the community that comes with the Binance network. Binance has helped pioneer many DeFi projects flourish and has a keen and knowledgeable community that comes with it. Many crypto investors prefer the Binance network for things like its ease of use, interface, and the specific tokens that choose to be Binance-exclusive.
To make the experience easier for new investors, we have created a custom interface. This will allow the new Binance community, and those looking to move tokens between chains, to have a uniform, seamless, and smooth experience.
The MUNCH Binance Bridge Project is a major step forward in cross-compatibility in the blockchain and Defi space.
Meet the new MUNCH, same as the old MUNCH
Despite this new network, and some new tokens, the tokenomics and the philosophy behind MUNCH remain unchanged.
All transactions on the Binance chain will be subject to a 10% transaction fee, with 5% going to charity and 5% redistributed to the holders (on that particular change).
There are no changes to the MUNCH model or the total supply. 100 trillion tokens (our total supply) will be created on BSC side but these tokens will be “frozen” in the bridge’s contract.
If Holder A moves 1B tokens to BSC then these 1B tokens will become “frozen” on the ETH side. If Holder B moves 1B tokens to the ETH side, these will be ‘frozen’ on the BSC side. This ensures the circulating supply remains unchanged.
We have been collecting questions from the community and will have published a more detailed FAQ post that you can read here.
In addition, we are available for questions, or to say hi, on Telegram, email, and our social channels.
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