Elrond eGold Token Swap in the first step at Binance has ended and EGLD is live at Binance Excellent Swap Execution
Elrond recently stated that the Elrond Bridge is here. They urged users to swap their old ERC20 / BEP2-ERD tokens for eGLD through their own website. The ratio for the swap: 1 000 ERD (old) = 1 $ eGLD (new).
Beniamin Mincu, founder and CEO of Elrond Network, tweeted: “The Elrond Swap Bridge has been up and running for a few hours. Everyone can exchange their ERC20 / BEP2-ERD tokens for eGLD. PS Please note that all swap transactions requested late at night (UTC + 3) are processed first thing in the morning. “
The Elrond Swap Bridge enables ERC20 / BEP2 ERD holders to exchange their tokens for eGLD. The swap duration is 1 hour or more. The swap ratio is 1000 ERD for 1 1EGLD.
The steps are very simple. Swappers should fill in some details like the type of Elrond (ERD) they want to trade. The details of the eGLD wallet address should be provided. If you don’t have an eGLD address, you should create one. You need to check that they are not a robot. The swap request is registered in a few seconds. After sending the tokens, users will have to wait for the transaction to complete.
The address is generated for a single use for a swap. After using the address for a swap, users will no longer be able to use it for future swaps. The swap request is then processed and completed.
Elrond has stated that the token exchange is a very important part of their milestone in the ecosystem. They believe that stimulating the Elrond economy is a prerequisite, which ultimately aims to incorporate more sharing, dedication, delegation, DeFi, and several others.
Sydney Ifergan, the crypto expert, tweeted: “I’m curious to see how the Sharded PoS algorithm will get Elrond to deploy VISA-level throughput in its swap provisioning bandwagon.”
Elrond eGold Token Swap at Binance
The first step of the eGold token exchange is over and EGLD is live on Binance. Beniamin Mincu explained that like an airplane that adjusts its trajectory prior to supersonic flight to achieve its goal, it optimizes its economics to get the next billion people on board at high speed.
He stated that the successful integration of the Elrond mainnet exchange was a critical milestone. He made it clear that native transactions on Elrond are processed very smoothly. He expressed his great respect for CZ Binance and the entire team at Binance and how great the effort and support in executing the swap was.