The HYVE ERC-20 token will be listed on Binance Smart Chain (BSC) as a HYVE BEP-20 token. The HYVE token can be changed cross-chain, from Ethereum to BSC.
"Not only are we launching the bridge to allow people to freely change their tokens, we are also listing HYVE on PancakeSwap and providing initial liquidity as promised. Considering the recent increase in volume on PancakeSwap due to the ETH gas problems, we believe this will allow our users to have a better overall trading experience."
The listing will take place this week. The CEO of HYVE has said the following in regards to the listing:
"Once the listing takes place, we will lock the liquidity as we did with the liquidity provided on UniSwap. We will be offering approximately $400K in liquidity on PancakeSwap; this number may vary a bit depending on the exact exchange rates on Wednesday, so we will be updating this number after the TXid has been made."
The circulating supply will not increase as a direct result of the listing. All the tokens that are being put on PancakeSwap are already in circulation.
Changing HYVE ERC-20 to HYVE BEP-20
HYVE will be providing their own bridge so that people can easily change their ERC-20 HYVE tokens to BEP-20 HYVE tokens, which will be published in a special section on their website.
The easy-to-use interface will help users exchange their tokens seamlessly and effortlessly, after which they will be able to use PancakeSwap directly.
What is HYVE?
HYVE is a community-governed ecosystem that solves the current problems in the global freelance and workforce market. The platform leverages the power of decentralized technologies while adding new features and mechanics that are non-existent on any current platform.
In simple terms, the HYVE Ecosystem is meant to solve common issues present in centralized solutions while promoting a collaborative environment.
By identifying many of the current issues with freelancing platforms, HYVE designed efficient solutions that could take the current market size to new heights. With existing platforms, the fees generally represent ⅓ to ¼ of the cost. However, by performing transactions with HYVE tokens, the fee is 0%, and paying with Ether or other tokens will charge a small 0.5% fee.
Furthermore, with the platform being governed by the community and by employing a decentralized system, HYVE managed to eliminate every existing bias that comes up with a potential dispute and significantly improved the users’ security through P2P encryption storage.
For more information on HYVE and the PancakeSwap listing, be sure to check out the links below.