Bridge update: Completed

Added support of Polygon. Fees are updated. Why bridging to ETH is expensive

Added support of Polygon chain and updated fees system.

🔂 Bridge changes done:

  1. You can now bridge DEFT to polygon chain
  2. Fees are now fixed and don’t depend on the DEFT amount you are bridging
  3. Fees are updated to the following:
    • from ETH to BSC/Polygon fee is 100,000 DEFT (~$4)
    • from BSC/Polygon to ETH fee is 2,000,000 DEFT (~$80)
    • from BSC to Polygon (and vice-versa) fee is 100,000 (~$4)

🙋‍♂️ Why bridging to ETH is expensive?

This is because we have to tell the ETH chain contract that you have really burnt the tokens on BSC/Polygon by sending transactions and paying gas on the validator side.
Our validator supports ETH gas spikes up to 200 gwei.

🔜 Next updates:

  • Next we are planning to redistribute liquidity among chains
  • To do that we will need to deploy several contracts
  • Then wait right moment (when ETH worths more than $3500)
  • That time DEFT can be paired to USDC at ETH peak value
  • More info can be found here:

✍️ Trade feed updates:

  • We are rewriting whole trade feed system @DefiFactoryFeed
  • To support custom data sources and more flexible for the updates
  • Expecting new feed live end of next week

🥩 Staking updates:

  • Currently working on staking dashboard
  • Planning to release test staking network by next week

🚀 Launchpad updates:

  • Launchpad requires alot of testing
  • We plan to procceed to them and further updates after staking is live
  • This is very difficult project and we need to make sure everything is 100% safe before we approaching companies to tokenize their business

🙋‍♂️ Do you need to do anything?

  • No, you don’t have to do anything now

That is all for today! Stay safe 😷

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