Fresh off the pan: FXF tokens are now on PancakeSwap
We’ve built an ETH <-> BSC bridge exclusively for FXF token holders to swap between environments.
We’re excited to announce that the FXF token is now available on PancakeSwap. PancakeSwap is a decentralised exchange built on Binance Smart Chain (BSC), a fast and cost-effective alternative to Ethereum.
Why PancakeSwap?
Running an 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. You can trade BEP-20 tokens, add liquidity and earn rewards.
Farming LP tokens on PancakeSwap is straightforward and simple. Find a pair of assets you already hold or are willing to supply, fire up your Metamask wallet, deposit, and farm. PancakeSwap allows you to farm its governance token — CAKE.
It’s as easy as depositing some funds to receive LP tokens and using that to farm CAKE. From there, you can stake your CAKE and earn other tokens through special staking pools called SYRUP.
The perk of farming using PancakeSwap is that transaction fees are much lower when using the Binance Smart Chain.
Building the Bridge
We looked at multiple bridge providers, but none could meet our requirements, so we’ve created our own ETH ←→ BSC bridge to transfer FXF tokens, opening up the world of PancakeSwap.
Our 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 BSC via PancakeSwap.
How to use the 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.
Step 3: Transfer to Bridge
Your wallet is now connected to Bridge. You can also see the balance of FXF tokens. Enter the number of tokens you wish to transfer to ETH Bridge.
Step 4: Transfer to ETH Bridge
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
2. 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.
Step 5: Connect to Binance Smart Chain
Now that you have successfully deposited to ETH bridge, you can withdraw the tokens from BSC Bridge.
Step 6: Switch your network to Binance Smart Chain.
Step 7: Withdrawal
Click on Withdraw and make sure that you connected to BSC bridge, if you have already deposited to ETH Bridge and vice-versa, copy the ETH deposit Transaction hash. (See Step 4).
Click on Confirm.
Confirm Withdrawal.
Please wait for the transaction to complete.
You should see the tokens transferred from ETH bridge in BSC.
Follow the same process to deposit in BSC bridge and withdraw in ETH network.
Step 1 — Transferring from your Metamask wallet
Access the bridge from https://bridge.finxflo.com. You will be prompted to connect your Metamask wallet; once connected, type in the amount of FXF you wish to transfer and confirm your transaction. Please note that a gas fee will be charged for the transaction.
Step 2 — Moving from ERC20 to BEP20
While Metamask is still connected, change the wallet in Metamask by clicking on the top right corner with the pie chart and choose BSC. Type in the amount you wish to deposit into your BSC wallet and confirm your transaction. Please note BNB will need to be present in your wallet to confirm and pay for the transaction.
Step 3 — Using your tokens on PancakeSwap
With your FXF tokens now in your BSC wallet, you can log into PancakeSwap and access their full suite of functions and services.
Grab your wallets. It’s time to get flipping!
About PancakeSwap
PancakeSwap is the leading decentralised 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.
About FINXFLO
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!
