CubFinance bridge is live! (plus testing it out)
Recently the CubFinance team pulled a wonderful surprise and came through with the CubFinance bridge, a decentralized way of changing between BEP20 and ERC-20 tokens without losing your custody of your coins at any point.
This beats out services like Changelly and ChangeNOW because you never lose custody of your coins throughout the exchanging process.
I tried to swap some ERC-20 USDT to BUSD for the purpose of this article. Let's see the fees i paid:
- Gas fee on Ethereum chain : $7
- Swap fee of 0.25% of my transaction (which is used to buy and burn bLEO and CUB. More on this later)
That was all the fees! Granted the ERC-20 fee still remains, however if I had changed on Changelly, I would have paid a higher gas fee (not sure why this is the case, but I did test them side by side and saw that the gas fee on Changelly was inexplicably higher), as well as a 0.5% fee on the total amount. I would also not get the best deal since they use the orderbooks of CEXs which usually do not reflect actual price.
With the number of ways and methods there are to buy and burn CUB currently, I believe that CUB is due for a big pump soon. These are the kinds of updates I love to see and hear, and I'm sure you do too!
The Kingdoms are also rumored to come soon, as it was said on the LeoFinance twitter that development has already begun. We'll have to wait for kingdoms to be released, but you can bet I'll be the first to test them out!
What do you think of the bridge? Let me know down below!
Posted Using LeoFinance Beta