Building bridges: FXF tokens are now tradable on TRON network and listed on JustSwap
The FXF token is now tradable on TRON network, giving users access to ~95% cheaper gas fees than on ETH.
We are extremely happy to announce that our FXF token is now tradable on TRON network. TRON is a blockchain-based decentralized platform that aims to build a free, global digital content entertainment system with distributed storage technology, allowing easy and cost-effective sharing of digital content.
TRON is one of the largest blockchain-based operating systems with high-throughput, high-scalability and high-availability. The FXF token deployed on TRON network is full TRC20-compliant and its fully compatible with the Ethereum network.
TRON’s open, decentralized platform and distributed storage technology also attempts to address a significant issue — the challenge of a very few, and powerful, corporations controlling the Internet and its content — making it a level playing field.
TRON’s proof-of-stake handles high throughput
Until proof-of-stake upgrades promised in Ethereum 2.0, the Ethereum network is restricted to the proof-of-work consensus model, known for being relatively slow. As traffic has increased on Ethereum, supply and demand have driven gas fees even higher.
In contrast, TRON uses the delegated proof of stake (DPoS) consensus. There are only 27 validators who need to confirm transactions compared to Ethereum’s approximate 9,000 validators daily. Thus, the network can handle far higher throughput with significantly lower fees.
FXF on JustSwap
JustSwap is a TRON-based decentralized trading protocol for automated liquidity provision and an open financial market accessible to all.
JustSwap supports secure and immediate exchange between any TRC20 tokens. Market makers will get service fees continuously without the platform taking any commission.
Link to trade: https://justswap.io/
The ETH/TRX bridge enables trading across three blockchains
Having previously built our own custom ETH/BSC bridge, we developed the ETH/TRX bridge to transfer FXF tokens. With these two bridges, we are now the first to build bridges between Binance Smart Chain, Ethereum and TRON, enabling our tokens to be tradable across all three blockchain networks.
Like the first bridge, the latest 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 our token supply without the associated issues of burning and minting new tokens, all while allowing our users fast and inexpensive transactions on the TRON network.
Using the ETH/TRON bridge
Step 1: Access Bridge
Visit https://bridge.finxflo.com to access the bridge
Step 2: Choose Network & Connect Wallet
Choose Ethereum Mainnet and connect your wallet.
Next, you will have to do two transactions, which the Bridge UI will suggest the respective functions to call.
First Transaction -> Approve ETH Bridge to access your wallet
Second Transaction -> Transfer the number of tokens from your wallet to bridge.
Click on Confirm and wait for the transaction to complete.
Please record the Deposit Transaction hash, which is needed for withdrawal.
Please wait for the transaction to complete.
Now that you have successfully deposited to ETH bridge, you can withdraw the tokens from TRON bridge. Sign out from ETH Bridge and connect to TRON Bridge.
You need TRON Link Wallet in order to Withdraw.
Here is what you need to consider before using TRON Link:
1. Make sure that you use the same wallet which is used to deposit
2. You may have to export your private key from Metamask to TRON Link Wallet.
3. You need to have enough TRX tokens to withdraw
Ensure that you are connected to TRX Mainnet (TRON Grid) and have enough TRX (Native token of TRON) Tokens.
Step 3: Withdrawal
Click on Withdraw and make sure that you connected to TRON bridge, if you have already deposited to ETH Bridge and vice-versa, copy the ETH deposit Transaction hash. (See Step 2).
Enter ETH Transaction Hash and click Withdraw.
Click on Accept and wait for the transaction to complete.
Visit TronScan.org and check your transaction.
Check that your transaction is confirmed.
Visit https://bridge.finxflo.com and you can see your updated token balance.
Follow the same process to deposit in TRON bridge and withdraw in ETH network.
TRON is dedicated to accelerating the decentralization of internet through blockchain technology and dApp use cases. Founded in September 2017 by Justin Sun, TRON has since achieved a number of milestones, including MainNet launch in May 2018, network independence in June 2018, and TRON Virtual Machine launch in August 2018. July 2018 also marked the acquisition of BitTorrent, a pioneer in decentralized P2P services boasting approximately 100M monthly active users globally. https://TRON.network/
JustSwap is a TRON-based automated liquidity protocol that allows users to exchange TRC20 tokens instantly in a decentralized way. It an open financial market accessible to all, supporting secure and immediate exchange between any TRC20 tokens. Market makers will get service fees continuously without the platform taking any commission.
Link to trade: https://justswap.io/
Our mission is to create an industry-leading trading platform to facilitate multi-crypto exchange access and provide both retail and institutional investors with professional-grade tools and global best prices through a user-centric interface.
We believe in a cryptocurrency market built on the values of legitimacy and trust, fully accepted by and accessible to the mainstream population. We envisage a level playing field for all participants, with the best prices available to traders irrespective of their portfolio size and location, with market distortions and unfair trading practices eliminated.
Our proprietary smart ordering algorithm distributes orders across multiple exchanges and retrieves optimum buy or sell prices, reducing slippage from large orders.
Everyone on our platform gets access to our dark pool, allowing traders to swiftly move in and out of any trade without incurring any market inefficiencies. Importantly, this allows protection from front running!
All with just one account, one KYC, and one wallet!