CoinEx Smart Chain | More Mainstream Assets Swapped Through CSC Bridge
CSC Bridge introduced the swapping of TRX and USDT on TRON on March 27, 2022. Since its launch in December 2021, CSC Bridge has covered multiple assets on the chains that include Ethereum and BSC, and the addition of TRON-based cryptos expanded its coverage of mainstream assets.
How to swap your assets across different chains?
To begin with, you should open CSC Bridge, connect to MetaMask on the homepage, and select TRX or USDT on TRON. After entering the amount, the target chain (CSC) will show you the number of tokens that you can get. Finally, you’ll need to click on Swap to complete the operation. Right now, it is free to swap assets from TRON to CSC through the bridge. It should also be noted that the minimum swapping amount of TRX is 100 TRX, while that of USDT stands at 10 USDT.
For swapping assets from CSC to TRON, on the other hand, the bridge supports BNB, ONET, ETH, USDT, TRX, which will normally be swapped in 10 to 30 minutes.
Asset swapping has become the trend
Over the past year, as longstanding public chains staged a comeback, the emerging chains rose to prominence, resulting in a crypto sector dominated by multiple players. According to Footprint Analytics, as of February, 94 public chains are included, a nearly eight-fold increase compared with the figure at the beginning of 2021, which indicates that the multi-chain market pattern has been in place for a long time. Since many public chains feature unique applications, users, security models, and design tradeoffs, on-chain assets cannot be directly swapped from one public chain to another, and the blockchain industry is now trending towards cross-chain swapping.
Monthly Blockchain Number for De-Fi
As cross-chain swapping gradually becomes a pressing demand, the sector of cross-chain bridges started to surge in scale during October 2021. The TVL of cross-chain bridges exceeded $10 billion as of March 1, 2022. Such a background triggered the birth of CSC Bridge, which has tapped into the latest trend of De-Fi and captured the spotlight.
Ethereum Bridge TVL Trend
You can swap your assets across different chains primarily in two ways. The first solution is to transfer your stable coin or the underlying asset of a public chain to the target chain through a CEX. However, withdrawing such underlying assets before swapping could expose you to the risk of losses arising from price swings and multiple swapping operations.
The second solution is to swap assets through a cross-chain bridge, which are divided into two categories: 1) official bridges built by the original developers of a public chain (CSC Bridge, Rainbow Bridge, etc.); 2) third-party bridges like cBridge and Hop Protocol.
Compared with third-party bridges, CSC Bridge not only charges extremely low swapping fees but is also backed by CSC’s security team and official authority, which improves its security and gains more recognition from users.
Cross-chain bridges, vital to the advancement of blockchain, make existing crypto assets more productive and useful while providing more options for users and developers. In the future, CSC will introduce more diverse functions and strive for the goals of enhanced security, faster swaps, higher capital efficiency, and improved cost-effectiveness.
About CSC
Aiming to build a decentralized financial ecosystem, CoinEx Smart Chain (CSC), launched on June 30, 2021, is an EVM-compatible public chain featuring high-performance and low fees. By combining the PoS underlying consensus protocol and the PoA block generation mechanism, CSC generates blocks every 3 seconds and charges extremely low fees (<0.01USDT). Having created an enabling ecosystem for both developers and users, the public chain now covers on-chain projects across a wide range of popular categories, including NFT, Game-Fi, and De-Fi.
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