FINXFLO has built a bridge from ETH to BSC exclusively for FXF token holders to swap between environments.
SINGAPORE / ACCESSWIRE / June 8, 2021 / FINXFLO, the world’s first hybrid DeFi/CeFi liquidity aggregator, announced the availability of their FXF token on PancakeSwap today. PancakeSwap is a decentralized exchange built on Binance Smart Chain (BSC), a fast and cost-effective alternative to Ethereum.
Running on Automated Market Maker (AMM) protocol, PancakeSwap enables users to swap between cryptocurrency assets by tapping into user-generated liquidity pools for assets in Binance Smart Chain.
To create the liquidity pools, PancakeSwap offers a variety of DeFi farming opportunities for liquidity providers. Users can trade BEP-20 tokens, add liquidity and earn rewards. PancakeSwap allows farming of its governance token – CAKE. It’s as easy as depositing funds to receive tokens and using that to farm CAKE. The perk of farming using PancakeSwap is that transaction fees are much lower when using the Binance Smart Chain.
‘We’re excited to have our FXF tokens on PancakeSwap’, said James Gillingham, CEO of FINXFLO. ‘We looked at multiple bridge providers, but none could meet our requirements. So we’ve created our own ETH to BSC bridge to transfer FXF tokens, opening up the world of PancakeSwap to our users.’
FINXFLO’s in-house solution is based on ‘lock and unlock’, as opposed to the ‘burn and mint’ token function used by many providers. This maintains the control of FINXFLO’s token supply without the associated issues of burning and minting new tokens, all while allowing FINXFLO’s users fast and inexpensive transactions on Binance Smart Chain via PancakeSwap.
To learn more and explore market pricing, visit: finxflo.com.
PancakeSwap is the leading decentralized exchange on Binance Smart Chain, with the highest trading volumes in the market for swapping BEP-20 tokens.
The PancakeSwap exchange doesn’t use order books like traditional exchanges. Instead, it uses an automated market maker (AMM) model, which matches buy and sell orders directly with others in a liquidity pool. User deposits maintain liquidity pools.
By providing liquidity to such a pool, users can earn trading fees and liquidity provider (LP) tokens. LP tokens are redeemable for the initial capital deposited, plus any fees earned, minus any impermanent loss. Furthermore, LP tokens can then be staked, farmed, and traded.
Co-founded by leaders in their respective niches, FINXFLO is a platform that focuses on changing the cryptocurrency market through innovation. As the world’s first hybrid DeFi/CeFi liquidity and protocol aggregator, FINXFLO brings a one-stop solution for all cryptocurrency traders and investors. Using only one account with one KYC, our users are now able to utilise liquidity from 25+ CeFi and DeFi platforms through a single user interface. In simple terms, FINXFLO blends all the upsides of DeFi and CeFi ecosystems to produce the ultimate product.
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