For the gas cost of 2 transactions swap your $SPORE between the Avalanche C Chain (AVAX) to Binance Smart Chain (BSC)! This bridge is opening new opportunities for arbitraging and will stimulate the deflation of $SPORE. Here, find a technical description of the bridge mechanics.
It consists of 2 smart contracts on each blockchain bridged by an autonomous .js script. When the script listens to a transaction on one side, it makes a call on the other blockchain, sending the tokens to the same 0x address but on the other blockchain.
The transaction fee is used by the account that is linked to the script to pay for the gas to make the transaction on the other blockchain. Because of the apricot updates this fee can be updated in the future — it is expected to be lower.
The reflection will only be happening on the AVAX side, this will stimulate the migration of the tokens to this direction. In turn, this will drive up the price on the BSC side, stimulating people to bridge the tokens back for opportunities in arbitrage. The total supply of bridged tokens on the AVAX side will be locked inside the contract and the reflection earned for the tokens will be lost in the contracts balance, stimulating more scarcity of the token.
The reliance of an autonomous .js script for the bridge operations can be a limitation, but seen from another perspective it opens the possibility of creating a second layer blockchain in the medium term, that can be managed in a decentralized way, and that can also be used as an oracle in our future implementations.
Because we want to stimulate a useful migration for our BSC peers to the Avalanche Network, a ‘swap some SPORE for AVAX’ function has been implemented too, which will let the user have enough gas to exchange his $SPORE into $AVAX after the migration and participate of other decentralized DeFI projects. Thus, the choice of holding $SPORE is personal.
The giant progress made in the recent weeks would not be possible without the community that has been built around $SPORE. This goes beyond the classic ‘dev team’ idea. In here, everyone is a dev, every person, just giving their opinion, asking or answering questions in the telegram chat, making amazing art, developing the webpage and specially all our diamond hands holders, this is a collective success.
BONUS: 2.5% of the supply has been burned by an early supporter, increasing the total burned supply to more than 5.6%!
BONUS 2: NFT collection and marketplace soon to be released.
$SPORE address: 0x6e7f5C0b9f4432716bDd0a77a3601291b9D9e985
AVAX bridge contract: 0x1aFCEF48379ECad5a6D790cE85ad1c87458C0f07
BSC bridge contract: 0x638E8FE7AD4D9C05735Ecb6b9c66013679276651
BSC $SPORE address: 0x33a3d962955a3862c8093d1273344719f03ca17c
Bridge your tokens here: https://sporefinance.co/bridge (opens at 18:00 GMT+1 on the 06APR2021)