What is LYOBRIDGE?
LYOBRIDGE is a platform that connects multiple blockchain networks, enabling seamless communication and transfer of data or assets between them. Acting as an intermediary, it facilitates cross-chain transactions, allowing users to interact across different blockchain protocols.
The LYOBRIDGE operates through the following key attributes:
- 1.Fungible Token Bridge: It facilitates the transfer of tokens between different chains using liquidity pools. This approach offers flexibility in terms of deposit and claim methods while minimizing the risk of hacks compared to bridges with minor roles.
- 2.Chain Support: LYOBRIDGE currently supports bridging between ETH and BNB chains. Furthermore, support for additional networks will be added in the near future, allowing users to bridge tokens across a broader range of chains.
- 3.Security-Focused Architecture: The LYOBRIDGE has undergone rigorous internal and external audits to ensure a robust security framework. The architecture is designed with a focus on maintaining the utmost security standards to safeguard user assets during the bridging process.
Every exchange has a limited number of supported chains, which can exclude transactions involving LYO Credit (LYO) tokens on exchanges that do not support the BEP20 protocol.
LYOBRIDGE is designed to enable the listing and trading of LYO tokens anywhere. How does it work?
With the LYOBRIDGE service, users can convert LYO tokens from BEP20 to other chains, such as ERC20.
Starting from a decentralized wallet as MetaMask, Coinbase Wallet, Wallet Connect, users can initiate the conversion to another chain. Once the conversion is completed, LYO tokens can be sent to exchanges (both centralized and decentralized).
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