Next week, Swingby will launch their BEP20 to ERC20 token bridge allowing Swingby token holders to move their tokens on to Ethereum and back. This news is huge because it opens up a whole world of new DeFi opportunities for the Swingby token. 99% of all DeFi value is locked on Ethereum and now Swingby can be used there.
How does it work?
We’re excited to announce that we are going to airdrop 170,000 Swingby ($80,000) tokens to PancakeSwap CAKE-BNB LP holders. Why? Because we are part of the BSC family and PancakeSwap ecosystem has helped us big time in the last few months. This airdrop will help to incentivize additional liquidity providers to start adding liquidity to the Swingby — BNB pool and will hopefully help to replace PancakeSwap as our primary market.
We are a DeFi project, that exists to improve the DeFi ecosystem, so we want our primary market to be in DeFi.
Tokens will be distributed to the top…
Q1 Skybridge Analytics — As we are launching the second bridge (BTC->BSC), new records are being hit every week.
We plan to keep these reports shorter and with comparative results so that people can easily compare and see how fast the project grows.
Current TVL (total volume locked): $36.284.446 (Source)
The evolution of the avg daily volume:
We went 5x in volume from January to March, and we expect the volume to increase exponentially in the weeks and months to…
Last week the Swingby ninja developers silently pushed an update to both the Bitcoin to Ethereum bridge and the Bitcoin to Binance Smart Chain bridge that enables the use of Bitcoins Segregated Witness (SegWit). Instantly, Bitcoin swaps became 47% cheaper due to vast reduction in network fees as a result of using SegWit, which aims to increase block capacity and efficiency.
The integration of Segwit has reduced the overall fees-per-swap, making the Skyrbidge a more attractive opportunity for Bridging Bitcoins (BTC) to BSC or ETH. But not only that, the new update shows that the Swingby tech team is 100%…
This week we the team has published a long-awaited update to the Telegram Metanode deployment bot, which allows Swingby holders to easily deploy their Metanode to the BTC-BSC bridge.
The Telegram bot makes setting up a Metanode extremely easy and handles the full process from installing the necessary dependancies to syncing all of the various chains.
As part of the Algorand Foundations initiative to provide grants to innovative projects, Swingby has received a strategic grant from the Foundation to help bring Skybridge technology to the Algorand chain.
Swingby’s Skybridge provides trustless bridges between Bitcoin, Ethereum, Binance Smart Chain (BSC), and other blockchains. It executes fast token swaps using a secure network of Metanodes that are powered by multi-party computing and layer-2 technology. Ultimately, the Skybridge enables users to move a 1-trillion dollar market cap digital asset like Bitcoin into the $50B DeFi ecosystem, as well as supports the seamless flow of liquidity between blockchains.
At the end of this month (March 2021), we will launch our 2nd bridge— Bitcoin to Binance Smart Chain!!! As we make groundbreaking progress on our bridge launches, we also want to make sure that our existing tools are kept up to date and nice to use for our Swingby superhero community.
So we’ve created you a brand new Metanode explorer page: https://skybridge.info/metanodes
This improvement to the existing explorer will make it even easier to run your own Swingby Metanode on either the BTC to Ethereum bridge or the BTC to BSC bridge and earn over 52% APR.
The warp-speed protocol for inter-blockchain swaps, allowing DeFi users to easily move assets between blockchains without the need for a trusted party.
Swingby’s bridge protocol, Skybridge, builds trustless bridges between BTC, Ethereum, Binance Chain, and other blockchains secured by a network of node groups that execute fast token swaps using ‘multi-party computing’ and layer 2 technology.
Skybridge allows users to move Bitcoin tokens between the Bitcoin, Ethereum, and Binance Chain blockchains without relying on a central custodian, opening up a whole world of DeFi capabilities such as liquidity pooling and DEX trading with easy to use UX.
Swingby has just…
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Read the skybridge performance report here: https://swingby.medium.com/february-skybridge-analytics-over-42-000-000-swingby-is-now-bonded-to-metanodes-8df667087f6b
This month the Skybridge has successfully swapped over $3,500,000 worth of Bitcoins and over $42,000,000 worth of Swingby has been locked up and bonded to Metanodes.
Last month, following the launch in December, we published the January Skybridge performance report which highlighted figures that broke our January targets and expectations. This month, in February, we have completely blown those expectations out of the water.
But before we start, what is Swingby?
Swingby’s bridge protocol, Skybridge, builds trustless bridges between BTC, Ethereum, Binance Chain, and other blockchains secured by a network of node groups that execute fast token swaps using ‘multi-party…