We’re happy to announce that from today, you can freely move OVR Tokens between Ethereum and BSC (Binance Smart Chain). OVR is now multi-chain!
How does it work? When using the bridge, no inflation will be created. Transferred OVR Tokens will be frozen on the Ethereum network and an equivalent amount of BEP-20 OVR Tokens will be minted on BSC. In the opposite direction, tokens will be burned on BSC and released from the frozen pool in Ethereum. Inspired by Binance Bridge, we also added the handy opt-in functionality for exchanging some ETH for BNB during the transfer. So, when in BSC, you immediately have enough BNB gas to transact. You can find the bridge here: https://bridge.ovr.ai/
Why we created the bridge
Ethereum will remain the base layer where the OVR ecosystem with its vision of becoming the infrastructure of the Spatial Web will be developed. However, considering the current transitory limitations generated by high gas fees and the adoption rate that BSC is demonstrating, we decided to expand our reach also to Binance Smart Chain. Land ownership and all the other smart contracts will remain on Ethereum. At the same time, OVR token holders will be able to tap into the opportunities generated by low fees, adoption, and liquidity of BSC. A trading pair (OVR/BNB) has been created on Pancake Swap.
If adoption and volume on BSC will be big enough, we will also consider a closer integration with BSC by allowing users to participate in OVRLand auction directly from BSC thus bringing the transaction fee to zero (0). In that case, OVRLand ownership will stay secured by the Ethereum blockchain but the payment will be possible both from Ethereum and BSC.
PLEASE BE SAFE AND ALWAYS CHECK THE OVR BEP-20 ADDRESS BEFORE YOU INTERACT WITH IT:
BSC (BEP-20) Contract address: 0x7e35d0e9180bf3a1fc47b0d110be7a21a10b41fe