Nimbus on BSC Update — The Wrap Machine, PancakeSwap Listing, Easy Integration, and More
Nimbus will spend 2021 delving deeper into their identity as a multi-chain network. They will solidify the integration with Binance by endorsing the Binance Smart Chain as part of the goal to make DeFi inclusive and users’ experience on the Nimbus platform satisfying and easy. With a strong presence on both the Ethereum and Binance networks, Nimbus will not only have a larger community, but will also be offering fresh and exciting opportunities to users.
With the launch on Binance Smart Chain, Nimbus will soon become a multi-chain protocol. Nimbus will create a powerful and comprehensive DeFi ecosystem on BSC in addition to the Ethereum Network. They already discussed the overall benefits of this integration for Nimbus users, such as up to 10X cheaper and faster transactions, as well as the Nimbus Platform’s long-term growth.
Nimbus on BSC — Same but Even Better
Nimbus Platform is excited to introduce Nimbus to Binance Smart Chain as a community-driven project for a more productive experience. Still, it’s important to remember that they are not abandoning Ethereum; rather, extending to BSC for reasons of interoperability, gas optimization, and growth potential.
From inside the Nimbus interface, switching from the Ethereum network to the Binance Smart Chain network and vice versa will be seamless. Ethereum users will be able to access BSC’s high-speed, low-fee network for the ultimate DeFi experience with the click of a button (literally!).
Key Changes For Users That Will Use Nimbus On BSC
- Accessing the Platform on BSC: You must add your wallet to the platform in order to use it. Although several wallets are compatible with Binance Smart Chain, Nimbus recommends MetaMask, which is compatible with both Ethereum and BSC. To get started, simply set your MetaMask to work with BSC and enjoy the benefits of pure performance! On the Nimbus platform, you will be able to move between the Ethereum and Binance Smart Chain Networks by simply clicking on the “Switch Network” tab in your MetaMask.
- The dApps on BSC: The rationale of the dApps will remain the same, although there may be some variations due to the underlying blockchain.
For example, due to the difference in gas fees, the APYs for the upcoming Lending-Borrowing dApp would be different. Nimbus on BSC would have various collateral options and digital assets in use. BSC’s Nimbus Swap machine can also show which token pairs are compatible with BSC, such as BUSD and WETH. Aside from that, all of the Nimbus platform’s current advantages remain the same. All that has changed is that our customers will now have access to a larger ecosystem, more benefits, and improved cost efficiency.
- The Nimbus tokens on BSC: The key thing to note is that the same ERC-20 NBU and GNBU tokens cannot be used on both blockchains. That is why NBU and GNBU must be replicated in the BSC-accepted BEP-20 standard. The tokenomics and use-cases outlined in our tokenomics sheet will be included in the BEP-20 versions of our tokens.
How to Access these BEP-20 NBUs and GNBUs? — The Nimbus Wrap Machine is unveiled.
Users can buy the new tokens using the Swap machine, or simply convert your ERC-20 NBU and GNBU to BEP-20 NBU and GNBU using the Nimbus Wrap machine, which will be available when BSC goes live.
The Nimbus Wrap machine will serve as a link between Nimbus ERC-20 tokens and Nimbus BEP-20 tokens. BSC users will be able to use the various Nimbus functionalities, such as Staking, Swap, dApps, and more, with these BEP-20 tokens, just like the Ethereum users.
The conversion of Nimbus tokens from ERC-20 to BEP-20 is free, but as with any other operation involving smart contracts, users will be subject to gas fees as determined at the time of transfer. Furthermore, users will be able to pay gas fees not only in ETH but also in BNB, Binance’s native token with a market capitalization of over 100 billion.
Following the expansion into BSC, Nimbus intend to list the NBU token on PancakeSwap, Binance’s most famous decentralized exchange.
With Nimbus present in two ecosystems, each with its own set of benefits, the possibilities for listings, collaborations, and updates are endless.
Users should also expect a future listing on Binance as part of a long-term strategy, which will improve interoperability and onboarding.
About Nimbus Platform
Nimbus has been around in the crypto industry since 2019 when they accumulated a massive user base of 50,000 users through their innovative crypto arbitrage-trading bot. In 2020, Nimbus began its transformation into a DeFi ecosystem of four dApps based on time-honored tools, including IPO Hub dApp, Crowdfunding dApp, P2P Lending dApp, and Crypto Arbitrage-Trading dApp.
The launch of their utility token, NBU, was a major success with a market cap of $35mln reached within only 2 days after the release and now the Governance token GNBU is live which is a great milestone.
According to the roadmap, in the longer run Nimbus shall transform into a one-stop-shop consisting of even more revenue channels for their users.