The next era of DeFi is here!
After much anticipation, Wanchain’s 4th Storeman group have begun their invaluable work, marking the debut of Wanchain’s Universal Multi-chain Bridges with Shared Staking Assets! This new cross-chain mechanism introduces two key advances:
- Shared staking assets. All staked wanBridges’ assets now power the same collateral pool.
- BTC-ETH direct bridge. BTC can be directly transferred to the Ethereum network without requiring Wanchain as a router.
Naturally, a development as monumental as a direct BTC-ETH bridge necessitates an upgrade to the BTC-ETH cross-chain contract. As such, existing wanBTC holders must first convert their tokens before having access to the BTC-Ethereum direct bridge.
Before beginning, please carefully note the following:
- The old BTC cross-chain token is now displayed as wanOBTC in all Wanchain wallet and DAPP interfaces.
- The new BTC-ETH direct bridge token is now displayed as wanBTC
Converting wanOBTC to wanBTC is a painless endeavour thanks to WanMask and WanSwap, the world’s first truly decentralised cross-chain AMM DEX. The simple process is described below:
1. Visit wanswap.finance and connect your WanMask wallet
2. Select wanOBTC and wanBTC as your starting and ending tokens, respectively
3. Input the quantity of wanOBTC to convert and click “Approve wanOBTC.” The exchange rate between wanOBTC and wanBTC is exactly 1:1.
Please note that, for the time being, both wanOBTC and wanBTC will remain open for trading. Nevertheless, it is strongly recommended that you convert your tokens as soon as possible.
The Wanchain team
March 9, 2021
About Wanchain
Wanchain is the infrastructure connecting the decentralised financial world. Wanchain’s live cross-blockchain solution is EVM-based, includes optional private transactions, and provides a decentralised, permissionless, and secure approach for interoperability. Wanchain has employees globally with teams in China, the USA, and other team members around the world in Asia, Africa, and Europe.
Writtent By
Temoujin Louie
Director of Marketing at Wanchain
