Datamine Network Launches bDAM on Binance Smart Chain
💡 AI Article Summary
Bridging DAM to Binance Smart Chain
To address high transaction costs and provide more options for small-scale traders, a BEP-20 version of the DAM token (bDAM) has been launched on the Binance Smart Chain (BSC). BSC offers high compatibility with Ethereum assets via its ERC-20 to BEP-20 bridge, combined with significantly lower network fees. By enabling trades of smaller sizes on BSC, the core liquidity and larger orders can remain securely positioned on Ethereum's Uniswap.
Initial Liquidity Pools on BurgerSwap
Testing has commenced with two initial liquidity pools established on BurgerSwap (burgerswap.org):
- BNB/bDAM
- BURGER/bDAM
An initial testing pool of 200 USD has been deployed to verify functionality. The official bDAM token contract on BSC is 0xaa7db5b4f3d69b73769eed863f6d3ceb08c43963.
Future Integration and Rewards
Plans are underway to explore the whitelisting requirements for both DAM and FLUX on BurgerSwap. Successful whitelisting of these assets will potentially allow liquidity providers to earn BURGER rewards by pooling DAM and FLUX. Community members can configure MetaMask for Binance Smart Chain to begin exploring these early-stage pools.
Hey . I've just created a bDAM token on Binance Smart Chain (BSC) Network and burgerswap.org and pooled some 200 bucks in there to test it.
Why Binance Smart Chain? It's awesome, seriously. They've made nice bridge from any ERC20 token, ETH and many more cryptocurrencies into their ERC-compatible BEP20 token.
Very low fees. So BSC and burgerswap.org will allow people to trade small sizes of DAM while having big orders and liquidity left on uniswap.
DAM contract for BSC is bscscan.com/token/0xaa7db5b4f3d69b73769eed863f6d3ceb08c43963
DAM/BNB info page: info.burgerswap.org/pair/0x885bd8c025c299e81d22c2f3e4f537917808f4e2
DAM/BURGER info page: info.burgerswap.org/pair/0x3598c19fe378ba64441362b91a510954fd772827
There are 2 pools: BNB/bDAM and BURGER/bDAM
Today was a nasty day in crypto so I didn't have much time to check on FLUX but I will and I will try and ask what are the requirements to whitelist DAM and FLUX there. If we get whitelisted, pooling DAM/FLUX will allow us earning BURGER
Check out more information on Binance Smart Chain on their medium medium.com/@bnburgerking
How to add Binance Smart Chain to Metamask: medium.com/@bnburgerking/set-up-metamask-for-burgerswap-57cff3f61a9d
Please give it some try
Frequently Asked Questions
What is bDAM and why was it created on Binance Smart Chain?
bDAM is a BEP-20 token on the Binance Smart Chain (BSC) representing bridged DAM. It was created to allow users to trade smaller transaction sizes with significantly lower network fees compared to Ethereum Layer 1.
Which liquidity pools are currently active for bDAM?
Currently, two experimental testing pools are active on BurgerSwap: BNB/bDAM and BURGER/bDAM.
How does this affect the primary Uniswap liquidity?
The BSC integration acts as a secondary venue for smaller retail trades, ensuring that deep liquidity and larger transaction sizes can remain securely settled on Ethereum's Uniswap.
· maul4420 · #community-announcements