TeraBlock’s Big Move from Ethereum to Binance Smart Chain

  • Decentralised Finance (DeFi) applications run on custom-built smart contracts configured to interact with the corresponding blockchain. These smart contracts pave the bedstone for the elaborate architecture required to run automated DeFi applications.
  • As we accommodate a suite of innovative DeFi products into our roadmap, we have understood that our original smart contracts on the BSC and Ethereum chain were not created to comply with the requisites of DeFi applications. Therefore, our new contracts will prove to be an important step towards ensuring secure and unrestricted transactions while setting higher standards of access and trust.
  • The appreciable expansion in the DeFi space has heavily strained the Ethereum network. Rapidly escalating gas fees and dramatic network slowdowns have caused projects across the crypto biosphere to consider other networks for their operations.
  • Recurring instances of trading losses due to smart contract exploits have also placed renewed focus on the importance of creating infallible smart -contracts and enhancing financial security.
  • We will proceed by completely removing liquidity from both chains on September 27 at 12 PM UTC.
  • A snapshot of the token holders will be taken.
  • New tokens will be securely airdropped into the wallets of all the token holders on the two chains on September 27 at 6 PM UTC.
  • To ensure a smooth transition, we shall also provide all TBC token holders on the Ethereum chain with an extra $20 worth of TBC tokens to cover the gas fees for bridging TBC from the Ethereum chain to the Binance Smart Chain.
  • TeraBlock Bridge: We will soon be launching our native cross-chain bridging solution to move ERC-20 tokens to BSC. Our development team is also working to enhance the multi-chain bridging functionalities of the tool. The Bridge will add another layer of utility and functionality to our platform.

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