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The Winkies are an ERC-20 Token based on the Ethereum blockchain, and the only currency of value in The Winkyverse. A bridge is available to move $WNK between Ethereum and BSC.
By default, The Winkies are ERC-20 compliant, meaning they live on the Ethereum blockchain. Nevertheless, The Binance Smart Chain provides a high-speed, low-cost alternative for the decentralized DeFi market which has suffered from Ethereum’s high transaction fees.
Binance Smart Chain has a BEP20 token standard that functions similarly to Ethereum ERC-20 standard. BEP20 is a developer-friendly token standard that allows anyone to deploy fungible digital currencies or tokens on Binance Smart Chain.
We want to give our users the ability to switch between chains whenever they want by creating a bridge between the two.
- A user sends his tokens to the bridge on the Ethereum blockchain.
- These tokens are safely locked inside an escrow account.
- The secure deposit is communicated to the bridge running on the Binance Smart Chain.
- The user is now allowed to withdraw an equivalent amount of tokens on the Binance Smart Chain into their wallet
- The reverse direction works in an identical manner. Any The Winkies holder will be able to instantly transfer their tokens between Ethereum and Binance Smart Chain
All these operations are fully operated by the bridge software, and transparent to the users, who will just see $WNK withdrawn from their account on one side, and credited on the other side (excluding a small transfer fee that will be paid directly in $WNK). The bridge requires a wallet that exists on both sides with the same address (such as a Metamask wallet).
Being available on the Ethereum blockchain and the Binance Smart Chain, it will be possible to trade the Winkies on both Uniswap (Ethereum) and Pancakeswap (BSC) decentralized exchanges.