KICK on the BSC network and on PancakeSwap
Greetings, KICK community! We’ve got some great news to share with you today. Announcing the long-awaited addition of the KICK token to the Binance Smart Chain network! We now have another trading tool to add to our collection — the opportunity to trade on PancakeSwap. Let’s see what opportunities and benefits this brings below.
How do these networks differ from each other?
The world of cryptocurrency has long since moved away from being concentrated in one blockchain, as it was at the time of the industry’s inception. Now, it comprises entire ecosystems — dozens of different networks that actively interact with each other.
Tokens can circulate in one network, or they can circulate in several. When circulating in several networks, tokens have separate contract addresses for each blockchain.
Something to consider is that different networks have different transaction fees. For example, the Ethereum blockchain is quite expensive. A transaction signature there can cost between $5 and $10. Binance Smart Chain, on the other hand, has its fees ranging from 50 to 80 cents. Transaction speeds also differ.
The KickEX team is working hard on multi-chain support for the KICK token, and BSC is just the first step in that direction. As to why we chose this network first? Read on below.
Benefits of tokens on the BSC network
In addition, trading on PancakeSwap is convenient because you can swap your tokens for others directly from your wallet, without having to entrust your funds to third parties, as is customary on CEXs. You just need to connect your wallet to the dapps service and trade.
In addition, you’re able to farm and stake your tokens and receive a percentage of other users’ trades. To do that, you just need to add your tokens to liquidity pools and then send them out for farming. More on that in our next article.
To avoid inflation, we burn 50 million tokens in order to issue KICK on the BSC network: https://etherscan.io/tx/0x08c58c5a3ebcf4254efb70ad6430821c923cb8b4bb68ff010684e5b641b224eb. We’re also adding a similar amount of KICK tokens to the Binance Smart Chain network.
Once KICK is listed on PancakeSwap, we’re planning on implementing BSC token deposit/withdrawal possibilities to KickEX exchange, cross-chain bridge creation, and conduct a lottery on the new network.
Follow our social networks and stay tuned for further updates!