Bridge update: Completed

Added support of Polygon. Fees are updated. Why bridging to ETH is expensive

Added support of Polygon chain and updated fees system.

🔂 Bridge changes done:

  1. You can now bridge DEFT to polygon chain bridge.defifactory.fi
  2. Fees are now fixed and don’t depend on the DEFT amount you are bridging
  3. Fees are updated to the following:
    • from ETH to BSC/Polygon fee is 100,000 DEFT (~$4)
    • from BSC/Polygon to ETH fee is 2,000,000 DEFT (~$80)
    • from BSC to Polygon (and vice-versa) fee is 100,000 (~$4)

🙋‍♂️ Why bridging to ETH is expensive?

This is because we have to tell the ETH chain contract that you have really burnt the tokens on BSC/Polygon by sending transactions and paying gas on the validator side.
Our validator supports ETH gas spikes up to 200 gwei.

🔜 Next updates:

  • Next we are planning to redistribute liquidity among chains
  • To do that we will need to deploy several contracts
  • Then wait right moment (when ETH worths more than $3500)
  • That time DEFT can be paired to USDC at ETH peak value
  • More info can be found here: https://defifactory.finance/proposing-the-next-deft-update/

✍️ Trade feed updates:

  • We are rewriting whole trade feed system @DefiFactoryFeed
  • To support custom data sources and more flexible for the updates
  • Expecting new feed live end of next week

🥩 Staking updates:

  • Currently working on staking dashboard
  • Planning to release test staking network by next week

🚀 Launchpad updates:

  • Launchpad requires alot of testing
  • We plan to procceed to them and further updates after staking is live
  • This is very difficult project and we need to make sure everything is 100% safe before we approaching companies to tokenize their business

🙋‍♂️ Do you need to do anything?

  • No, you don’t have to do anything now

That is all for today! Stay safe 😷

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