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Utulu Hope
June 22, 2022
Numerous protocols have utilized Celer IM to offer cross-chain capabilities across different ecosystems, including NFTs, GameFi, DEXes, and more.
Multi-blockchain dApp Functionality
Celer Network commits to offering users blockchain interoperability. The industry-leading inter-blockchain and bridging platform boasts numerous multi-blockchain products for developers, including the Inter-chain Message (IM) Framework, used to build inter-chain Decentralized Applications (dApp).
The protocol launched the product in April, adding to its unique cBridge, Layer2.Finance and State Guardian Network (SGN) offerings. BSC News reported the IM mainnet launch on April 27, as Celer collaborated with nine partners to formulate cross-chain dApps across Decentralized Finance (DeFi), governance, GameFi, Non-Fungible Tokens (NFT), and more.
One of the launch partners, ChainHop, utilized the Celer IM product to create a unique dApp that facilitates the conversion of tokens from one chain to another. Hence, through Celer IM, multi-blockchain dApps can be built and utilized by users. Additionally, developers can leverage the service to build inter-chain dApps easily without the need to deploy isolated copies of smart contracts on different blockchains.
Celer IM-enabled dApps users, like ChainHop, will benefit from a multi-blockchain ecosystem in one place. In addition, the service provides simplicity via a single transaction without complicated manual interactions on numerous blockchains. Overall, Celer IM demonstrates new bridging capabilities on BNB Chain and beyond.
Open Canonical Token Bridge Standard
Celer Network’s blockchain interoperable ecosystem is facilitated through the Open Canonical Token Bridge standard. An Open Canonical Token Bridge standard is a simple fix to the Vendor Lock-in bridges, which are limiting for dApps.
Most third-party bridges operate with the Vendor lock-in feature. This means that the moment you use the bridge solution, the project or dApp is bound to the bridge forever. Celer Network's Business Development Officer, Wanli, provided BSC News with comments about the feature. Wanli stated that Celer introduced the Open Canonical Token Standard to ensure that multi-blockchain interoperability is achieved.
“We believe the multi-blockchain future we are heading towards should be as open and interoperable as possible to allow the free flow of users, assets, and messages. It should encourage different solutions to contribute to ecosystem advancements and learn from each other’s innovations. Based on this, we initiated the Open Canonical Token Standard, hoping to break the current vendor lock-in reality we are currently in since it comes with long-term risks for the users’ assets and data,” Wanli told BSC News.
The option allows multiple bridges to co-exist in a single framework, ensuring users and dApp developers are open to less risk. A bridge through the Vendor Lock-in standard is precarious. For instance, the dApp or project is open to a huge security risk if the bridge goes down. On the other hand, with the Open Canonical bridge solution, users can utilize other bridges if one goes down.
Read the Celer blog post for more information about the Open Canonical Token Bridge Standard.
What Is Celer Network:
Celer Network is the leading inter-blockchain and cross-layer communication platform in the industry. The protocol offers fast, secure, and cheap bridging between multiple chains. The Celer ecosystem comprises three unique products: inter-chain Message Framework, cBridge, and Layer2.Finance.
Where to find Celer Network:
Website | Telegram | Twitter | Discord
Follow us on Twitter and Instagram!
Check out the Web3Wire Linktree to keep up with all relevant Web3 and Crypto!
This is a paid Ask Me Anything (AMA), BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement AMA for $2000 Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the AMA.
Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2000. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2000. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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June 25, 2022
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Binance NFT Celebrates First Anniversary with Exciting Activities
The industry-leading NFT marketplace celebrated its first anniversary by incentivizing users. Additionally, the protocol plans to launch innovation to ensure users unleash their creativity in the NFT space.
Binance NFT Turns One
Popular Non-fungible Token (NFT) marketplace on BNB Chain, Binance NFT, celebrated its first year in the industry with numerous activities to incentivize its large community.
The industry-leading marketplace introduced three activities to celebrate the milestone, including a chance for users to win Special Edition First Anniversary NFTs and enjoy 24 hours of Zero-fee NFT trading. The protocol shared the event on June 22 through its official blog.
The top activity, zero-fee NFT trading, commenced on June 24 and lasted 24 hours. The other two activities ended on June 23, as users completed two different tasks to win the special NFTs. This unique collection was given to one thousand users who met the criteria outlined in Binance's blog post.
Open Minting Feature for NFTs
The NFT platform seeks to continue improving its service for users, following the huge success in the past year. One of its plans to improve its ecosystem is by introducing an “Open Minting Feature” to empower every user to unleash their creativity on Binance NFT. The protocol documented the innovation through a thread on June 24.
BSC News will follow the platform’s progress in the industry as it looks to provide a seamless environment for NFT enthusiasts to showcase their designs through its upcoming innovation.
What is Binance NFT:
Binance NFT is the exchange’s NFT arm consists of a marketplace, a platform for initial game offering (IGO), and mystery NFT boxes in the Binance Smart Chain (BSC) ecosystem. The top 10 collections on the platform have witnessed more than $80 million in all-time trade volumes, as per data from Binance. There have been more than 44,000 items sold from these collections on the marketplace.
Find more about Binance NFT here:
Website | Twitter | Blog | Instagram | Telegram
Check out the Web3Wire Linktree to keep up with all relevant Web3 and Crypto!
June 25, 2022
FEG Token Brings June Updates as SmartDeFi 2.0 Approaches
FEG token brings multiple updates that include a website overhaul, logo change, and a new roadmap section.
Major Updates
The FEG Token team released updates for June, including a website overhaul, logo change, and a new roadmap section.
The protocol publicized the new changes through a Twitter thread on June 17. Here are the updates:
- The team revealed that they are working on a RoadMap for release to the community that will show expected time frames and goals.
- The FEG token official site will be undergoing maintenance as they update the official site to reflect updates to the project.
- The FEG team is currently conducting professional creativity exercises and taking community input for Name and Logo changes before voting. In addition, the Design Team is working on a number of Logo options that will be shared when further into the process.
- The team is working on a swap tool for the tracking tokens from staking rewards, and more information will be released on this once completed (built and testing currently).
- Token holders can use beta.FEGex.com to see the prices & charts of $FEG, which are being pulled from major exchanges such as Uniswap (ETH) & PancakeSwap (BSC).
Further, as an added precaution, the team advised that the token migration has NOT begun and advised the public NOT to fall for fake token Migration apps, TG groups, websites, etc.
BSC News reached out to the FEG token team to learn more about the recent updates, but we didn’t get a reply.
What is Feed Every Gorilla(FEG):
FEG explains the main idea behind its token is to provide a decentralized transaction network that operates on the Ethereum blockchain and the BNB Chain. A hyper-deflationary token, FEG has a maximum circulating supply of 100 quadrillions on both the aforementioned chains, including an inaccessible burn wallet. A 2% transaction tax is distributed among all holders based on the percentage of ownership, including the burn wallet, which acts as a holder that collects tokens over a period in which transactions occur. The team is keen to stress that there is no burn limit, and with this being the case, users will enjoy a ‘never-ending cycle of passive income with positive price pressure.’
Where to Find FEG:
Website | Twitter | Telegram |
Check out the Web3Wire Linktree to keep up with all relevant Web3 and Crypto!
Follow us on Twitter and Instagram!
Looking for a job in crypto? Check out the CryptoJobsNow listings!
Celer Network’s IM Service Opens Up New Bridging Capabilities
Numerous protocols have utilized Celer IM to offer cross-chain capabilities across different ecosystems, including NFTs, GameFi, DEXes, and more.
Multi-blockchain dApp Functionality
Celer Network commits to offering users blockchain interoperability. The industry-leading inter-blockchain and bridging platform boasts numerous multi-blockchain products for developers, including the Inter-chain Message (IM) Framework, used to build inter-chain Decentralized Applications (dApp).
The protocol launched the product in April, adding to its unique cBridge, Layer2.Finance and State Guardian Network (SGN) offerings. BSC News reported the IM mainnet launch on April 27, as Celer collaborated with nine partners to formulate cross-chain dApps across Decentralized Finance (DeFi), governance, GameFi, Non-Fungible Tokens (NFT), and more.
One of the launch partners, ChainHop, utilized the Celer IM product to create a unique dApp that facilitates the conversion of tokens from one chain to another. Hence, through Celer IM, multi-blockchain dApps can be built and utilized by users. Additionally, developers can leverage the service to build inter-chain dApps easily without the need to deploy isolated copies of smart contracts on different blockchains.
Celer IM-enabled dApps users, like ChainHop, will benefit from a multi-blockchain ecosystem in one place. In addition, the service provides simplicity via a single transaction without complicated manual interactions on numerous blockchains. Overall, Celer IM demonstrates new bridging capabilities on BNB Chain and beyond.
Open Canonical Token Bridge Standard
Celer Network’s blockchain interoperable ecosystem is facilitated through the Open Canonical Token Bridge standard. An Open Canonical Token Bridge standard is a simple fix to the Vendor Lock-in bridges, which are limiting for dApps.
Most third-party bridges operate with the Vendor lock-in feature. This means that the moment you use the bridge solution, the project or dApp is bound to the bridge forever. Celer Network's Business Development Officer, Wanli, provided BSC News with comments about the feature. Wanli stated that Celer introduced the Open Canonical Token Standard to ensure that multi-blockchain interoperability is achieved.
“We believe the multi-blockchain future we are heading towards should be as open and interoperable as possible to allow the free flow of users, assets, and messages. It should encourage different solutions to contribute to ecosystem advancements and learn from each other’s innovations. Based on this, we initiated the Open Canonical Token Standard, hoping to break the current vendor lock-in reality we are currently in since it comes with long-term risks for the users’ assets and data,” Wanli told BSC News.
The option allows multiple bridges to co-exist in a single framework, ensuring users and dApp developers are open to less risk. A bridge through the Vendor Lock-in standard is precarious. For instance, the dApp or project is open to a huge security risk if the bridge goes down. On the other hand, with the Open Canonical bridge solution, users can utilize other bridges if one goes down.
Read the Celer blog post for more information about the Open Canonical Token Bridge Standard.
What Is Celer Network:
Celer Network is the leading inter-blockchain and cross-layer communication platform in the industry. The protocol offers fast, secure, and cheap bridging between multiple chains. The Celer ecosystem comprises three unique products: inter-chain Message Framework, cBridge, and Layer2.Finance.
Where to find Celer Network:
Website | Telegram | Twitter | Discord
Follow us on Twitter and Instagram!
Check out the Web3Wire Linktree to keep up with all relevant Web3 and Crypto!
