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Nervos Launches Cross-chain Bridge to Binance Smart Chain -Breaking

by Mike Robinson

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Nervos launches Cross-chain Bridge for Binance Smart Chain

Nervos announced today the creation of a cross-chain bridge between Binance Smart Chain and Nervos. This will allow the company to expand its multi-chain strategy, as well as its rapidly expanding DeFi ecosystem. BSC assets are now transferable to Nervos. BSC-based developers can also use the existing codebases of BSC to port decentralized applications to Nervos. They will increase brand recognition and user reach. YokaiSwap will be the first DEX to open on Nervos. Users of the BSC ecosystem can also take advantage yield farming opportunities.

Expansion of the DeFi Ecosystem

The completion of the Nervos x BSC bridge marks a significant milestone in Nervos’ DeFi growth, as it unlocks new options given BSC’s Total Value Locked (TVL), which is the biggest of any blockchain outside of . BSC-based developers can bring their dApps onto Nervos. This will allow them to access the projects, tools, resources, and other services that are available to DeFi developers. Moreover, dApps built on BSC such as YokaiSwap (an interoperable AMM-decentralized exchange (DEX),) will have access to liquidity via the BSC ecosystem.

Force Bridge, an anonymous cross-chain trustless bridge, makes it possible to make seamless transactions between Nervos and public chains. Godwoken is the first Layer 2 EVM-compliant blockchain. Nervos’ Layer 1 provides security and scalability, allowing support for future layers and making it easier to build EVM-compatible cross-chains bridges, such as the Nervos x BSC bridge, from the Nervos Network to other chains.

“Bridges form the foundation of any truly effective blockchain application.”
Chris Khan is Senior Product Manager for Nervos.

We’re unlocking a tremendous amount of value by enabling cross-chain interoperability using BSC. This can be used in the Nervos ecosystem.

Seamless Token Transfers

The seamless transfer of tokens between networks will be possible with the Nervos x BSC Bridge. Binance USD and (BNB) are the Binance ecosystem’s native tokens. They will both be available for asset transfers. Cross-chain swaps can also be done using them. There is support for other BEP-20 tokens in the future.

YokaiSwap: Yield farming

BSC users can also receive incentives of over 500% APR on YokaiSwap via yield farming as part of the expanded access they have to Nervos dApps. YokaiSwap, an Automated Market Maker or (AMM), allows you to swap $CKB for any whitelisted tokens on the Ethereum network. It also makes it possible to trade BNB and USD. YokaiSwap will list BNB/CKB trading pairs and BNB/YOK trading pair. This information is available to yield farm opportunities.

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