Dexance
2 min readMay 12, 2021

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INTRODUCTION TO PAYBSWAP BRIDGE (ERC20 TO BEP20)

PAYBSWAP is making bridges to the Binance Smart Chain. This will give opportunities for traders to swap from ERC20 to BEP20 tokens.

Ethereum transaction fees are becoming very expensive. For instance, if you want to swap 10$ you may have to pay up to $85 as transaction fee and this is unacceptable. Day after day more traders start to realize that they need an alternative and this can be found in the Binance Smart Chain. We estimate that about 90% projects will move to this network if Ethereum fees continues to soar

Having a bridge makes it possible to circulate tokens in several blockchains at the same time. We will be able to trade supported tokens in different decentralized exchanges and this will attract more investment and new followers to Paybswap project which would eventually drive the price as usability increases

How the bridge works:

This platform is an interface that allows you to transfer tokens from one blockchain to another. The system is a well-coordinated work between wallets and smart contracts.

How does the bridge work?

1) A token for exchange is selected.
The address of the wallet that will receive the tokens of another blockchain is indicated.

2) The user specifies the number of tokens that he plans to change and clicks “Submit”. He opens a window for interaction with the Metamask wallet where he confirms the sending of tokens.

3) The smart contract removes tokens from the user’s wallet, sends them to the PAYBSWAP wallet and makes a record of the number of tokens and the wallet address.

4) The user receives the tokens of the second blockchain at the address specified by him at the first stage.

5) Smart contract 2 sends tokens of the second blockchain from PAYBSWAP wallet to the client’s specified wallet. The number of tokens is taken from smart contract 1.

6) After the exchange transaction is completed, the Metamask wallet interaction window of another blockchain opens, where the user confirms the exchange transaction.

These process is seamless, secure and fast. Get ready to start the journey with us. $PAYB

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Dexance

A Cross-Chain Automated Market Maker (AMM) and yield farming on Avalanche Chain