Tired of High Gas Fees? Nimbus Expansion to Binance Smart Chain Will Resolve That
We are thrilled to announce that the Nimbus Platform shall be deployed on the Binance Smart Chain (BSC) by June 2021!
The integration will open many new opportunities for the community and enable cheaper and faster interaction with the Nimbus platform and tokens. Eventually, it will also help Nimbus tokens to get listed on Binance and enhance the growth of the Nimbus community in China.
Why should you be excited about Nimbus on Binance Smart Chain?
- ~10 times cheaper and speedy transactions:
Currently, the Ethereum network has an average gas fee of $5 per transaction, while transactions on Binance Smart Chain cost around $0.2–0.3. That is more than 10 times cheaper! So with the deployment on BSC, Nimbus users and liquidity providers will be able to interact with the Nimbus functionalities without needing to deal with exorbitant gas fees.
Besides, Nimbus users shall be able to pay gas fees not only in ETH but also in BNB, the primary token of Binance with a market cap of over $4bln.
- Community growth in China:
BSC is highly popular in China, and our Chinese community has been waiting for this shift for quite a while. So with BSC, we should expect a lot more traction on the Chinese market — which, in turn, shall provide benefits to all Nimbus token holders worldwide!
- A more speedy way towards Binance listing:
Finally, as Nimbus becomes a valued member of Binance’s thriving DeFi ecosystem, we shall acquire a track-record on BSC, which is valuable for the Binance exchange. As a result, it will become easier for Nimbus tokens to be listed on Binance.
- New product development and enhanced revenues for users:
With BSC and Ethereum, Nimbus shall be able to create even more unique cross-chain tools and synthetic products. This in turn, shall provide our users — and especially GNBU holders — with extra earning opportunities.
So in total, this event shall create more opportunities not only for current users, but also for new users in China — as well as help Nimbus secure more listings, partnerships, and new product developments!
What do you need to do in order to enjoy these benefits?
MetaMask wallet is pleasantly configurable with the Binance Smart Chain. This enables Nimbus users and liquidity providers to use the same ETH wallet address while interacting with the Nimbus Platform and all our functionalities on both BSC and Ethereum.
That’s why you will still have access to all the same Nimbus functionality, and there won’t be any lengthy transitions or inconveniences. All you need to do to get started is let your MetaMask work with BSC — and enjoy pure efficiency!
Why did we choose BSC for Nimbus?
The Nimbus team constantly explores new channels to bring more convenience, optimize gas fees, and make interactions with the Nimbus Platform dramatically efficient for our users. As the DeFi ecosystem keeps ever-maturing on BSC, Nimbus shall leverage the BSC ecosystem and herald the Nimbus Platform and its community even further.
*We shall release more technical details for our users shortly.
About Binance Smart Chain
Many of you are familiar with Binance Chain — a blockchain explicitly curated for trading, supporting the Binance decentralized exchange platform. It was quite a speedy ticket, but it did not support smart contracts. Hence, to overcome that hassle, Binance created a second parallel blockchain called the “Binance Smart Chain”, aka BSC. The BSC is highly compatible with Ethereum Virtual Machine (EVM), and it allows you to run all types of smart contracts on it.