Paid Network’s PAID BSC Bridge is Now Live

Paid Network announced that they have completed a crucial next step – they have finalized Ethereum to Binance Smart Chain bridge.

With Ethereum transaction fees recently reaching record highs, the new PAID Network bridge will allow $PAID holders to easily move their tokens between the Ethereum and Binance Smart Chain blockchains as and when needed. BSC currently features dramatically lower transaction fees and much faster block production than Ethereum, making for an overall more efficient experience for users.

The PAID Network supply is now mirrored on Binance Smart Chain. Contracts can be checked here(Ethereum) and here (Binance Smart Chain). There are 594 million tokens minted on each chain, but the true overall supply of PAID tokens remains fixed at 594 million since the Bridge will only unlock BEP-20 $PAID tokens once the equivalent amount of ERC-20 tokens are locked — and vice-versa.

The current $PAID circulating supply can be checked at any time on CoinMarketCap.

Using the bridge is simple. Just select the source network for the $PAID you want to bridge and choose an amount. After creating your deposit you will then automatically receive an equivalent number of $PAID on the target network to your wallet — e.g. bridge 1,000 ERC-20 $PAID to 1,000 BEP-20 $PAID.

The PAID Network Bridge represents a crucial step in not only bringing the PAID ecosystem to other blockchains, but also bringing cross-chain projects to Ignition. For now, you will still need to hold your $PAID tokens in your Ethereum wallet to whitelist for IDOs, but in time, we expect to support direct scanning of BEP-20 $PAID on Binance Smart Chain also.

What is Paid?

PAID Network seeks to redefine the current business contract, litigation, and settlement processes by providing a simple, attorney-free, and cost-friendly DApp for users and businesses to ensure they #GetPAID wherever they are in the world.

PAID technology leverages Plasm to operate on both Ethereum and Polkadot ecosystems. PAID makes businesses exponentially more efficient by building SMART Agreements through smart contracts in order to execute DeFi transactions and business agreements seamlessly.

PAID streamlines backend legal operations with SMART Agreements, so that projects can focus on making their brand bigger and better.

📰 INFO:

https://paidnetwork.com/the-paid-bsc-bridge-is-now-up-and-running/