IgniteChain x BNB Smart Chain Bridge is Now Live
We are glad to announce the integration between IgniteChain and BNB Smart Chain, as the Ignite Bridge is going live.
Using this bridge, all the BEP-20 IGT token holders on BNB Smart Chain, specifically who participated in pre-sale and private sale, are able to move their IGT to IgniteChain mainnet. Bridge is implemented in two ways, from BNB Smart Chain to IgniteChain and vise-versa.
The amount of BEP-20 representation of IGT tokens will be subtracted from the initial supply in Ignite Ecosystem and market. This integration with the BNB Smart Chain will be an additional option for the IgniteChain community to trade and store IGT tokens.
The bridge is currently allowing transfer of IGT tokens only. We are planning to support other BEP-20 assets and stablecoin. Ignite Bridge will not only enable existing assets to scale, but also help in innovation around cross-chain liquidity and asset management.
Join: https://discord.gg/zV8Qa5NwVB & share if you have any query regarding Ignite Bridge.
How does the Ignite Bridge work?
It follows the smart contract based lock and unlock asset flows whenever the asset is transferred over the IgniteChain-BNB Smart Chain bridge.
Suppose if you want to bridge your 100 BEP-20 IGT to IgniteChain; this is how it works:
100 IGT on BNB Smart Chain -> sent to bridge smart contract -> Transaction Verification -> 100 IGT on IgniteChain
What to do with $IGT?
Stake (Node): Stake your IGT and power the IgniteChain ecosystem by verifying transactions. Applications for Nodes are here.
Delegate: Support nodes in powering IgniteChain by delegating your IGT.
What’s in the next phase?
We are planning to;
- Adding support for different assets
- Introducing stablecoin into IgniteChain Ecosystem
- Support for Ethereum (ERC-20) assets
- Access to Ignite Bridge: https://bridge.ignite.info
- Bridge Smart Contract: 0x1e9381b39f3ab0a5b21c3ef66082ab6008e2027b
- How to connect Metamask to IgniteChain: https://blog.ignite.info/how-to-connect-metamask-wallet-to-ignite-chain-network
- Website: https://ignite.info/
- Explorer: https://ignitescan.com/
- Docs: https://ignitechain.gitbook.io/ignitechain-docs
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