The launch of applications that allow the exchange of tokens of different blockchains will be one of the most demanded proposals in the DeFi sector this year 2021.
I want to talk briefly about Swingby, since I am involved in the project as an investor and also participating in the Pancakeswap pool that opened today February 17th. We already have it available to do Trading.
Bitcoin and Ethereum are the most highly valued digital assets and the most representative when it comes to liquidity. The need to facilitate transactions and the acquisition of these cryptocurrencies is vital. Decentralized applications such as Swingby will allow us to convert our BTC to a synthetic token on the Ethereum or Binance blockchain. It will serve as a bridge between Bitcoin and original Ethereum and Bitcoin and Ethereum as ERC20 or BEP20 tokens.
These tokens simulate the same value as their original assets with the advantage of being used in the thousands of DeFi platforms that we have at our disposal. It's fantastic.
On the official Swingby page we will find a Widget, on the Homepage, where we can perform this process in a matter of seconds. First, we select the amount of Bitcoin we need, add the address of our destination wallet, for example Metamask or Trustwallet, then the system will ask us to send the original Bitcoin to the address that you indicate. When the transaction is confirmed our WBTC or sbBTC will be in our portfolio. I forgot to tell you that the Swingby app allows us the option of transferring Bitcoin with its own bridge.
To promote their project, they have formed a tandem with Pancakeswap. The Binance platform has opened a liquidity pool with Swingby / BNB and the possibility of earning Swingby tokens by staking our Cakes. A good opportunity to make a profit, since these incipient tokens tend to go up a lot in price in the first days.
They have also opened a raffle, in which I suggest you participate through Twitter where they will give away 50 dollars in SWINGBY tokens to 5 people.
If you want to collaborate with security and the maintenance of consensus, we can enjoy an APR of more than 30% if we run a node on our computer. Something similar to what we have in THETA.TV if we want to get Tfuel.
Very happy and satisfied with Pancakeswap as it is always associated with interesting projects.