LeoBridge - a step in the right direction - what about bridging EOS tokens?

LeoBridge - a step in the right direction - what about bridging EOS tokens?

By ervin-lemark | Crypto World News | 22 Mar 2021


This:

Borrowed from @cubfinance docs pages.

It will be nice to connect Ethereum tokens world with BSC tokens. Yet, for me ETH tokens are worthless. It's personal yet I might not be alone with this sentiment.


When we are talking about bridges - there is Binance Bridge already connecting several networks and doing quite well - I want to share a story of a couple of days ago. It goes like this ...

Manually bridging #WAX to CubFinance

I had some spare $WAX and decided to invest them on Cubfinance, Why would I do that? Let's call it an exercise. I simply wanted to know how many hops will be needed. The answer was eight, at least.

  1. transfer $WAXP from my wax.bloks.io wallet to Bittrex
  2. sell $WAXP to $BTC
  3. transfer $BTC to Binance
  4. sell $BTC to $BNB
  5. transfer $BNB to my BSC wallet - now we entered CubFinance territory
  6. sell some $BNB to $BUSD
  7. sell the rest of $BNB to $CUB
  8. buy LP for $CUB $BUSD pair

Along with an additional $DEC transfer directly from @splinterlands into my BSC wallet and adding to the liquidity of both CUB-BUSD LP and DEC-BUSD LP there were:

  • 9 transactions on 3 chains and 2 exchanges
  • 2 stakes
  • I don't know how many fees

Yes, a bridge would be very nice, thank you :)

I realize that without $LEO based token in the EOS ecosystem the @leofinance team has no motivation to create this bridge. Yet, i remain an optimist. Rome wasn't built in a day.


Better and better

How do you rate this article?


12

0

ervin-lemark
ervin-lemark

Husband, father, dog person, recreational runner, loves to travel, IT pro. Fascinated by old and new, from Oracle to blockchain and everything in between.


Crypto World News
Crypto World News

Various news from and about the brave new world of crypto currencies, platforms, projects, ideas, ...

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.