A poll for PRV / BEP2 (Binance Chain) BUSD pair in pDEX

[abduraman]

Here are some discussions:

How to avoid high fees when withdrawing USDT from Binance, Kucoin etc. exchanges?

Currently, Binance and Kucoin cut 6 and 10 USDT respectively because of the congestion on Ethereum network. I’ve found a solution to decrease these fees: Using another exchange As of now, Gate.io cuts 2.5 USDT for withdrawals. If you have USDT in Binance, Kucoin or similar exchanges with high withdrawal fees, first withdraw your USDT to Gate.io in Tron network with zero fee. This transaction is quick. Then, you may withdraw your USDT to Incognito in a cheaper way. If you find some other …

Pool v.2 aka Provide

Hey @andrey @ning, Currently all of the stablecoins in Incognito are in Ethereum network which has high transfer fees. After you implement unshielding fee, the negativity on this issue will increase. To me, there are two easily-implementable options here to resolve the problem: 1- Merging BEP2 BUSD and ERC-20 BUSD in the same Incognito token. I think this will require some modification in the code. More preferable but requires more time. 2- Adding some liquidity PRV / BEP2 BUSD pair. If you p…

Because of the congestion on Ethereum network, the transfer fees insanely increase. There is a partial solution if you want to transfer a stablecoin (USDT, USDC, BUSD, DAI, PAX etc., each of them is always around 1$) in a cheaper way: Using BEP2 BUSD. Binance USD has two tokens, one in Ethereum network and the other one in Binance Chain. If you shield/unshield (after 1-2 weeks later) BUSD in Ethereum network, you will have to pay at least 10-15$. Otherwise, you will pay around 0.01$. Here is the poll:

• I’m not allowed to use BEP2 BUSD in my country.
• I’m allowed to use BEP2 BUSD but I will not provide any liquidity via Provide feature in the app.
• I’m allowed to use BEP2 BUSD and I can provide some liquidity via Provide feature in the app.

[marko]

Excellent idea! Many coins can be sent over binance chain but I’m not sure how it works or if it would be compatible with Incognito. Somehow some exchanges have made the BEP2 and ERC20 interoperable.

[abduraman]

As of now, Incognito may support USDT for Binance Chain in Provide feature. @andrey

https://www.binance.com/en/support/articles/daca7c991d5f4c45a4d1083f70912515

The withdrawal fee for Binance Chain (BEP2) USDT is 0.025 USDT while it is 4 USDT for ERC-20 USDT. Their ratios are 1:1. Binance handles the swap internally.