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Soumen Datta
March 5, 2022
Blockchains bridges are becoming more relevant with each passing day. Here’s a simple guide for using Allbridge to move assets from the BNB chain to Solana.
Moving Assets from BNB Chain to Solana
DeFi's cross-chain bridges are becoming more and more critical as interoperability, cross-chain communication, and token bridging gain popularity. Allbridge provides a fast, affordable and secure way of moving liquidity between EVM, non-EVM, and Layer 2 blockchains.
The following guide will take you on a step-by-step journey on how to easily transfer your assets from the BNB chain to Solana using Allbridge:
Step 1: Choose Blockchain and Asset
As a first step, you need to visit the Allbridge page here. You can then select the blockchain from which you want to transfer and the destination blockchain you wish your tokens to arrive. As you can see in the image below, we have chosen the starting blockchain as BNB and the destination blockchain as Solana for this guide.
Next, choose the asset that you would like to transfer. Here we will be going with BUSD as the asset. From the drop-down list below, you can pick any token you want. The list will vary according to the source blockchain.
Step 2: Connect the Wallet
After choosing the source and destination blockchains and the asset you want to transfer, it’s time to click the ‘Connect Wallet’ option. Your wallet will then prompt you to approve the choice you’ve made. For our case, we will be using the Metamask wallet.
You can check here if you face difficulties setting up your Metamask wallet.
If you want to connect MetaMask Wallet to The Binance Smart Chain, you can check this guide here.
Step 3 Fill in the Recipient's Address and Number of Assets
After connecting your wallet, you need to enter the destination blockchain's address in the 'Recipient Address' field. The next step is to enter the number of assets you want to send in the ‘Amount to send’ field.
If you are using MetaMask for example, you will be prompted to approve your spending before sending money. Before confirming the send transaction in the wallet, click the 'Send' button to trigger the transaction. As seen below, a waiting page will appear following the transaction approvaL, including a link to the block explorer.
Step 4 Connect Wallet and Receive Assets
As soon as the transaction is successful, you'll be able to connect your wallet to your destination blockchain (what you entered in the 'To' field) and receive your designated assets. Next, click on the ‘Connect Wallet’, to choose your relevant wallet.
You will then be forwarded to the next step to receive assets. Select 'Receive' as shown below to trigger the transaction you have initiated.
As soon as you confirm the transaction, you will see a waiting screen with a link for viewing the block explorer, so you know where your assets are at all times. Following the completion of this step, you will see a success screen similar to the one below.
Congratulations if you have gotten this far. Hopefully, you now understand how the assets of the BNB chain can be transferred to Solana. Using these steps, you can bridge any asset between blockchains.
In addition, you can tune in to a live stream where Allbridge founder Andriy Velykyv speaks with Greg Gotsis, Co-Founder of Web3Wire, about Allbridge.
What is Allbridge?
According to Allbridge, it is a simple, modern, and dependable method of transferring assets between networks. Moreover, it is a bridge between EVM (like Ethereum, Polygon, BSC) and non-EVM compatible (like Solana, Terra) blockchains, with the goal of eventually covering L2 (like Arbitrum, Optimism) solutions and NFT transfers.
The mission of Allbridge is to make the blockchain world borderless by providing a tool for freely moving assets between networks. In the future, it will transform into a DAO-style multi-chain hub, connecting EVM and non-EVM networks.
Where to find Allbridge?
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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May 18, 2022
Crypto.com NFT issues the UFC Collection book
The UFC Collection Book will reward users with UFC-based items after users complete their UFC NFT collections when logging in to their Crypto.com NFT accounts.
Redeem UFC Prizes on Crypto.com NFT
The Ultimate Fighting Championship (UCF) collection book is live on the Crypto.com Non-fungible Token (NFT) marketplace. Users who redeem UFC NFTs in any collection book stand a chance to win prizes related to the fighting competition, including autographed posters of their favorite superstars, championship belts, Jerseys, etc.
Crypto.com is the official Fight Kit Partner of the world’s premier Mixed Martial Arts (MMA) organization, and the cryptocurrency exchange platform has been supporting the fighting championship for over ten months. During this period, Crypto.com released seven NFT drops that represent UFC fights—from UFC 268 to UFC 274. Through the UFC collection book, wrestling enthusiasts can gather the NFT drops (shards, pre-fight belts, championship belts, and posters) from users in the marketplace and become eligible to receive UFC-based rewards, as seen in Crypto.com’s blog on May 16.
“Crypto.com is excited to announce that fight fans will now be able to take their NFT collections to the next level with the launch of the UFC Collection Book.
Collectors can display and show off their UFC collectibles all in one place. View posters, shards, pre-fight belt plates and championship belts from various UFC drops and easily find collectibles to complete your collections. You can redeem exclusive UFC prizes when you complete your UFC Collection Book, including autographed posters, jerseys and more!” the blog read.
The UFC collection book is part of Crypto.com NFT’s big week which started on Monday, May 16. The protocol revealed some innovations via a Twitter thread published on May 16. The big week comprises numerous airdrops, the UFC collection book, and an update to its NFT platform. The update will ensure users can deposit and trade Cronos NFTs on the Crypto.com NFT marketplace.
Crypto.com NFT will stop receiving users’ collections on May 23 at 13:00 UTC. In the meantime, users should log in or create a new Crypto.com NFT account to access the UFC collection book and complete their collections. Once again, users can purchase UFC NFT drops from the Crypto.com marketplace to complete their UFC collection books.
UFC Collection Book Details
As stated earlier, the collection period is ongoing and will end on May 23. Users are required to redeem the following UFC collection books:
Digital Poster and Shard NFTs Collection Book
To complete this Collector book, users must obtain all 43 Digital Poster and Shard UFC NFTs. Crypto.com will reward fight fans who complete this collection with an Autographed Poster worth $300 each or UFC Venum Authentic Fight Night Men’s Walkout Jersey worth $80 each.
Pre-Fight Belt Plate Collection Book
As the name implies, users need to collect all 11 Pre-Fight Belt Plate UFC NFTs to become eligible to receive “Canvas in Acrylic” worth $150 each.
Championship Belt Collection Book
There are 11 Championship Belt NFTs available in this collection book. When users collect them, they will receive a UFC Legacy Replica Desktop Belt worth $225 each.
Crypto.com will send confirmation emails to users eligible for rewards after the campaign ends. You can also refer to the protocol’s blog post for useful links on signing in or creating an account in the Crypto.com NFT marketplace and purchasing UFC NFTs to complete your Collection book.
What is Crypto.com:
Crypto.com is a cryptocurrency exchange that started operating in 2016. It has extended its reach to over 10 million users within 5 years. The platform was founded by Bobby Bao, Gary Or, Kris Marszalek, and Rafael Melo, with its headquarters in Hong Kong. In addition to the cryptocurrency application, the platform also runs the Crypto.com Visa card, one of the world’s most extensive cryptocurrency card programs, the exchange, and a DeFi wallet. The exchange operates across 3 continents, the Americas, Europe, and Asia.
For more information about the project:
Website | Twitter | Medium | Linkedin | Discord | Telegram | Reddit | Kakao |
Don’t forget to download the BSC News mobile application on iOS and Android to keep up with all the latest news for BNB Chain and crypto!
Follow us on Twitter and Instagram!
For those looking for tools and strategies regarding safety and crypto education, be sure to check out the Tutorials, Cryptonomics Explainers, and Trading Tool Kits from BSC News.
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May 18, 2022
Magic Eden Eating Away at OpenSea's Market Share
Solana’s NFT metrics have been trending higher in the last months, placing OpenSea within reach of Magic Eden.
A New King in Town?
Solana’s Non-Fungible Token (NFT) marketplace—Magic Eden—surpassed OpenSea in users and transactions – a testament to how the vibrant NFT ecosystem in Solana keeps expanding while other Layer 1’s struggle to keep its pace.
Looking at both platforms’ stats on DappRadar can help understand the ongoing shift:
Number of Users
The number of users is based on the number of unique wallet addresses interacting with the marketplaces' smart contracts.
- In the last 24 hours, OpenSea had 29,6K users and Magic Eden 50,6K.
- In the last 7 days, OpenSea had 109K users and Magic Eden 119K.
- In the last month, OpenSea had 361K users and Magic Eden 272,7K.
According to the graph, Magic Eden already reached OpenSea's daily users back in February and trended higher in the last weeks.
Graph: Web3Wire | Data: DappRadar
Number of Transactions
The number of transactions is based on the marketplaces' smart contracts transactions.
- In the last 24 hours, OpenSea saw 54,5K transactions and Magic Eden 404K.
- In the last 7 days, OpenSea saw 290,5K transactions and Magic Eden 1,88M.
- In the last month, OpenSea saw 1,67M transactions and Magic Eden 9,23M.
Similar to the number of users, Magic Eden reached OpenSea's daily transactions in February and seems to be trending higher as well.
Incoming Volume
The volume represents the total amount of incoming value to the marketplaces' smart contracts (in $).
- In the last 24 hours, OpenSea saw $31,35M in volume and Magic Eden $31,4M.
- In the last 7 days, OpenSea saw $276,9M in volume and Magic Eden $194M.
- In the last month, OpenSea saw $2,29B in volume and Magic Eden $774M.
OpenSea saw a huge increase in volume during Yuga Lab's Otherdeed launch beginning of May. Despite all this hype, Magic Eden managed to reach OpenSea's volume level for the first time during the last few days.
Looking Forward
It's no surprise that Magic Eden already surpassed the leading marketplace in transactions and users, as it uses Solana’s cheap network. Users don’t have to worry too much about paying high transaction fees when they list or trade their NFTs, which also enables the trading of less expensive items. Adding to this, the platform has been regularly adding features and looking for new ways to capture market share.
Web3Wire reached out to Co-Founder and CTO Sidney Zhang to ask if the current market downturn is slowing them down:
“Actually, despite the fungible market’s recent volatility, the NFT market is extremely robust as of today. The first 13 days of May are already reaching the entire month of March SOL volume. Our traffic remains very high. But if an NFT market downturn comes eventually (which we haven’t seen the evidence yet), we are just going to hunker down and build.”
Web3Wire will continue observing Magic Eden’s ambitions to capitalize on the ongoing shift and become one of the bigger NFT platforms.
Check out this Web3Wire article to learn how to buy NFTs on Magic Eden.
What is Magic Eden:
Magic Eden is the leading NFT platform on the Solana blockchain. It facilitates the buying, selling, and minting of NFTs and holds over 90% market share for secondary trading volume on the Solana.
Where to find Magic Eden:
What is OpenSea:
OpenSea describes itself as the world’s first and largest digital marketplace for crypto collectibles and NFTs. The marketplace offers some of the most exclusive collections in the NFT space. Users can buy, sell, and discover exclusive digital items through OpenSea.
Where to find OpenSea:
Follow us on Twitter and Instagram!
For those looking for tools and strategies regarding safety and crypto education, be sure to check out the Tutorials, Cryptonomics Explainers, and Trading Tool Kits from BSC News.
Check out the Web3Wire Linktree to keep up with all relevant Web3 and Crypto!
How to Bridge Assets from BNB Chain to Solana Using Allbridge?
Blockchains bridges are becoming more relevant with each passing day. Here’s a simple guide for using Allbridge to move assets from the BNB chain to Solana.
Moving Assets from BNB Chain to Solana
DeFi's cross-chain bridges are becoming more and more critical as interoperability, cross-chain communication, and token bridging gain popularity. Allbridge provides a fast, affordable and secure way of moving liquidity between EVM, non-EVM, and Layer 2 blockchains.
The following guide will take you on a step-by-step journey on how to easily transfer your assets from the BNB chain to Solana using Allbridge:
Step 1: Choose Blockchain and Asset
As a first step, you need to visit the Allbridge page here. You can then select the blockchain from which you want to transfer and the destination blockchain you wish your tokens to arrive. As you can see in the image below, we have chosen the starting blockchain as BNB and the destination blockchain as Solana for this guide.
Next, choose the asset that you would like to transfer. Here we will be going with BUSD as the asset. From the drop-down list below, you can pick any token you want. The list will vary according to the source blockchain.
Step 2: Connect the Wallet
After choosing the source and destination blockchains and the asset you want to transfer, it’s time to click the ‘Connect Wallet’ option. Your wallet will then prompt you to approve the choice you’ve made. For our case, we will be using the Metamask wallet.
You can check here if you face difficulties setting up your Metamask wallet.
If you want to connect MetaMask Wallet to The Binance Smart Chain, you can check this guide here.
Step 3 Fill in the Recipient's Address and Number of Assets
After connecting your wallet, you need to enter the destination blockchain's address in the 'Recipient Address' field. The next step is to enter the number of assets you want to send in the ‘Amount to send’ field.
If you are using MetaMask for example, you will be prompted to approve your spending before sending money. Before confirming the send transaction in the wallet, click the 'Send' button to trigger the transaction. As seen below, a waiting page will appear following the transaction approvaL, including a link to the block explorer.
Step 4 Connect Wallet and Receive Assets
As soon as the transaction is successful, you'll be able to connect your wallet to your destination blockchain (what you entered in the 'To' field) and receive your designated assets. Next, click on the ‘Connect Wallet’, to choose your relevant wallet.
You will then be forwarded to the next step to receive assets. Select 'Receive' as shown below to trigger the transaction you have initiated.
As soon as you confirm the transaction, you will see a waiting screen with a link for viewing the block explorer, so you know where your assets are at all times. Following the completion of this step, you will see a success screen similar to the one below.
Congratulations if you have gotten this far. Hopefully, you now understand how the assets of the BNB chain can be transferred to Solana. Using these steps, you can bridge any asset between blockchains.
In addition, you can tune in to a live stream where Allbridge founder Andriy Velykyv speaks with Greg Gotsis, Co-Founder of Web3Wire, about Allbridge.
What is Allbridge?
According to Allbridge, it is a simple, modern, and dependable method of transferring assets between networks. Moreover, it is a bridge between EVM (like Ethereum, Polygon, BSC) and non-EVM compatible (like Solana, Terra) blockchains, with the goal of eventually covering L2 (like Arbitrum, Optimism) solutions and NFT transfers.
The mission of Allbridge is to make the blockchain world borderless by providing a tool for freely moving assets between networks. In the future, it will transform into a DAO-style multi-chain hub, connecting EVM and non-EVM networks.
Where to find Allbridge?
