Announcing BSC Bridge | Instant HIVE > BNB Conversion

in LeoFinance16 days ago

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Rishi using the bot instead of bothering me.


This is probably going to be a short announcement, but an announcement nevertheless.

What is it?

@bscbridge is an automated bot that will automatically convert HIVE to BNB on BSC. Instantly.

Why?

Since @rishi556 lives in the United States, he was not able to use Binance. Even with a VPN, they had closed his account, therefore, for things that require BNB (either wanting to invest in new tokens or just paying gas fees for CUB) he was always coming to me so that I could convert some HIVE to BNB for him. I was more or less tired of doing this at 3AM in the morning... So, yeah.

How does it work?

Send >20 HIVE (minimum is 20 HIVE) to @bscbridge with your BSC address as memo (nothing else, be careful to double-check your address, transactions are irreversible.) and it will automatically convert to BNB, taking into account the current HIVE/BNB price (using Binance API) with a 2.5% fee (this may drop later).

Can I trust it?

It's up to you.

What if I want to bridge thousands of HIVE?

You probably can. But in a scenario, if the bot does not have enough BNB to send to you, it will just refund you the HIVE you sent while stating the maximum HIVE it can accept.

Disclaimer

After this announcement, @bscbridge officially goes into beta test mode. So while I tried to prevent any issues that could result in funds being stuck, if in the very rare case that they are, I'll refund them.

That's it.

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are we going to get rich now ? :)))

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Not yet. Soon. 😁

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That is really cool. Something which addresses a need and addresses it well! Top notch!

Imma gonna test this thing even though I have access to Binance.

This is really awesome. I have been seeing more and more projects like this that are making the BSC more accessible to a large number of people. Very cool! Great work and I don't blame you for not wanting to have to do all that converting at 3 AM!

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More piece of infrastructure going in place.

It is why I am still convinced we are still at the development stage. A lot of coding still needs to be done.

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That makes sense. It should be a virtual grand central station here when everything is up and running!

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Applications can be build on nothing. There has to be core infrastructure in place to handle what needs to be done. There is still a lot of incompatibility throughout the entire industry. At some point, this will lesson as developers start to agree upon some standards.

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Honestly I guess this will solve a lot of peoples problems who are not binancy optional. I hope it works dude for all of us! (and this will also help for putting stuff in pools, good one!)

It is a one touch button situation which makes it easy.

Low BSC fees make it feasible for those with smaller amounts of Hive to participate. This is extremely important.

Glad to see this.

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If I ever need to convert my liquid HIVE to BNB for any reason, this tool is going to remove a ton of steps.

Nice! I also convert my hive to BNB by using the exchange Probit which has HIVE and BNB. When you take out the BNB you can choose to have it go to the BSC or the main net. The downside is it doesn't get nearly the traffic as Binance so you will not get the best buys and sells.

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I did not know Probit had BNB available (for BSC) but that's nice to know that there is an alternative. For @bscbridge, all prices are taken from Binance, so who knows, you might get a better deal.

Quite interesting service for US citizens for sure !

Did you work with some of the leofinance team to get some of the code to materialize it ?

In any case, the more options the better 👌.

Thanks 🙏

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Yup, definitely nice to have alternatives, especially when it's simple as "Send HIVE, Receive BNB" in about 10 seconds.

And no, @bscbridge is something I came up with and coded.

More kudos to you then !

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LOL the Leofinance team doesnt have a monopoly on BSC. 😁😁

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I know... BUT THEY SHOULD 😄

I was more thinking about the fact that some team members of the leofinance's team could have helped set this up since they worked on this topic before.

I am sure that @deathwing more than had it covered.

It really is nothing more than making one set of software code talk to another one. Developers deal with that all the time.

I would guess the only variable is the magnitude of the bridge they are creating.

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Us citizens can use binance.us

Which is 1% of what "normal" Binance offers right?

I dont think so. I was able to buy bnb and transfer it out


Your post was promoted by @amr008

Nice. I don't have to go through binance anymore. I am sure those who have been meaning to get into CUB can explore this option.

Question: does it work the other way round? Swapping BNB for Hive?

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Currently, no. If there is enough interest I might end up adding BNB > HIVE.

It's really easy to discern who is transferring how much on Hive and for what, but it's a lot harder on BSC. So I gotta find a solution for that.

Alright, thanks for the information.

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I think it would be a great onramp to Hive if BSC continues to grow which I think it will.

There is only going to be more money generated on there and, it seems people on Hive are drawn to there because of the lower fees.

Might be a terrific app to get people to start accumulating some Hive with their profits off the BSC farms and whatnot.

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I would love to be able to get Hive out of BSC. Currently withdrawing LEO to Hive-Engine and then selling LEO for Hive... it all seems so wrong! BNB - Hive... Boom! That's what we need. It is the next best thing to a bHive (which has a nice ring to it) pair on CUB.

Sounds great! Never knew there was such an easy way to convert HIVE into BNB, all done through a bot! However, this bot only does HIVE. I have gotten LEO rewards and am thinking of putting it out into BNB. Is there any possible method to convert LEO into BNB?

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Sexy.

Apps like this should be included in more frontends.

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I was just telling my brother about not having an easy way to get gas money into them dens. :)
Problem solved.

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I just tried it out and it worked instantly.
I now have gas money.

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Problem solved. thank you ser
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This solves a lot of problems for a lot of people.
Any way to check the price of BNB that the bot is using to convert Hive to BNB?
Also is there any bot to convert Leo to Cub?
Or if you are aware of any best way(economical & fast way) to do it.
Thanks

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Any way to check the price of BNB that the bot is using to convert Hive to BNB?

Currently, no. The best way is to check HIVE and BNB price and do the calculation yourself. Soon though.

Also is there any bot to convert Leo to Cub?
Or if you are aware of any best way(economical & fast way) to do it.

No bots, unfortunately, you have to convert LEO to Hive and then Hive to BNB and then buy CUB that way.

You can wrap your leo to bleo and send it to cubfinance and buy cub
thats much shorter isn´t it?

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Oh, true. You might run into volume/liquidity issues, maybe. I don't know.

That is really cool. Something which addresses a need and addresses it well! Top notch!

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Cool thing! how about liquidity? This may be a nice way for many to get some hive into BNB. does it work the other way around as well? Sending BNB receiving HIVE?

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This is too cool and useful, not only for those who live in the USA, but for many who want to get into Defi but don't understand so many steps.

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thanks for info

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Imma try this out once I get 20 HIVE or more... Thanks man :)

Thanks @deathwing for this BSC Bridge ((:

I would love to use this service when I get some extra Hive!

P.S. Reblogged so this message can reach more people.

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This is totally awesome!!!

Wow, this is cool work. Hive and BNB I think that will help hive and finance users to trade both token in a simple way.

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This is amazing...now just get the other way figured out, or does it go both ways?

Thanks!

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Cool! I've done it manually several times.

Necessity is the mother of invention. Great work!

pretty epic

Great work and awesome stuff! Well done

Wonderful. Worked a treat!

Sensational work @deathwing.

This is a platform that is really needed. Being one like @rishi556 in terms of my location, it is a pain in the rear to get onto BSC.

Here we have one of those infrastructure tools that will help a lot of people since it fills a major need.

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Being in the US sucks for getting into shitcoins. Luckily I can still get into the major coins pretty easily with things like Bittrex. Just harder to get in early on projects which might take off(or more likely crash and burn).

Yeah that is true. Have to jump around or depend upon our friends over in the EU or elsewhere.

Welcome to the land of the free or whatever mythology they sold us on.

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Here in the dictatorship of Venezuela we can help them with the freedom of their changes LOL the world upside down. 🤣🤣🤣

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It is a fast and easy system. A good utility for people who have no other possibility or for convenience. Although there are cheaper options to make the change.

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Awesome, and if there are users maybe you will be motivated to do a BNB to Hive conversion as well for a good bi-directional capability. :)

This is how the world goes round and round.
You find a discrepancy and you create a solution.
At the end both sides are happy.
Hey why not give it a try.

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Excellent, thanks to be easier the process. Can you change your BNB to Hive? Thanks for the information.

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Thanks!

Currently, no. It's a one-way transfer from HIVE to BNB, though I may add BNB to HIVE... maybe... soon™

Super, thanks for your efford and go on! :D

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maybe... soon™

Never saw that before.

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Well this solves a ton of issues for those worrying about getting BNB for Cub Finance. I am glad that a nuisance turned into a solution for the entire community.

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It is a major boost for those in the US looking to get onto BSC using Hive. No need to go through additional steps.

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i have access to Binance but don't have a lot of BNB so having an option to easy get BNB for transaction fees is really nice.

Does this what drive hive price up ?

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Those are just Korean pumps. Price action can be really silly in comparison with development. mostly it is hype based.

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I would say yes, this announcement is the reason for the price of Hive going up.

It is that powerful an application if you ask me.

The market seems to agree with that viewpoint. Unless it is all coincidence which might lend some credibility to the "we are living in a simulation" theory.

Coin toss on which it is. 👍

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Sounds like a nice little tool. Is there perhaps some front-end UI that you could integrate it with later on (e.g. port the tech to CubDefi or something)?

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That adds an additional step, so that's why I really don't want to at the moment. But if I do end up adding BNB > HIVE -- it feels like a frontend is going to be necessary.

I think I have to be careful, because people or scammers can also use it, and there must be other ways that are at least legal in the exchange, for example at least there could also be a new exchange feature in leo, wleo, hive, usdt, and also for bnb, to future child tokens.
also be careful.

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This is a really great tool for me being in the US. Thank you for sharing, I plan on using that.

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That's great. Another nice thing coming to Hive. I love when things become simple and easy to use for everyone. Congratulations.

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Filling in holes in infrastructure can have an amazing effect.

Simply yet needed.

Now a seamless way to go from Hive to BNB.

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This is so cool even for non-us citizens. Will save me a few steps!!

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Yeah and might offset some of the fees.

Hopefully it becomes very popular and we see the fees drop. If they could get to the 1% range (or even below) with enough activity, that could make a difference, especially if we eventually start pulling some big money off BSC (with the reverse approach implemented).

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Thank you for providing this service. It will greatly simplify things for folks on HIVE. It is fantastic to see projects like this that ease the use of swapping coins.

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Excellent! But when is this going to be a 2-way bridge, as I'd hate to just see a drain on HIVE

How is it a drain in Hive?

The ability to get from Hive to BSC exists, it is just many steps (and a real pain in the ass for Americans). Yet, people still go through it to get their money on BSC.

So I really dont see this providing more incentive to people to sell their Hive. Someone who wants to do it will do so regardless of this app.

I do agree the reverse is a great idea especially down the road to take some profits and roll back into Hive.

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Very very nice!!

Great. It would be helpful. Next question is can we do it in reverse, like I have BNB and want hive?

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Not right now, soon™ :)

Great stuff you have done as more access to everyone the better. This place is going to benefit with more development.

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We might be small in number in terms of the developers but the ones that are on Hive are churning out some stuff.

It is wonderful to see.

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Sweet!! No more selling CUB to buy BNB to keep farming.

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This is super awesome
all the US Hive citizens thank you

All 330 million of them.

Imagine putting that on a thank you card.

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Right.

But it could be an E-Card
still would take a while.

Need a lot of bandwidth for that. LOL

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Nice work @deathwing. I don't know what it took to automate this process, but definitely would seem to be an instant market - given the number of requests for small amounts of BNB we all see in Discord, this should be a big hit!

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Thks @deathwing for this feature. Will try it.

I saw this flick past the Discord pretty quick and I'm glad it's now front and centre for the community.

Will help a lot of people out, so thank you! :)

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nice! I have just tried the conversion! really very useful! Congratulations!

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GAS SAVER!
save_money_gas.jpeg

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Short, but extra sweet for US citizens. And it has no sugar either.

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This service is appreciated by the community and arrives at the right time to solve major problems in regards to DefiFarming.

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That's great! So, as I understand I can convert Hive to BNB directly to my MetaMask account/ which is also BSC adress? Is this correct or I'm miss something?

Yes. Click Metamask and click your account name to copy your address. That is your BSC address.

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Thank you. That's really great! This opens up many new possibilities, even ones we may not even know yet! 😎

You can use binance.us if u live in the us, just not binance.com

Binance us doesn’t have bnb withdrawal to bsc.

Just tried this by sending 20 hive as written and used my bsc wallet add as memo, but have not received the coins as yet. My Tx Id is https://www.hiveblockexplorer.com/tx/9960c97b1a88b5e010f4ef3c630d6cc4ff0d2e31

Please check and let me know!

Thanks.

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Hmm...

This was something I honestly did not anticipate. The bot is hardcoded to refund any transaction below the minimum amount, 20 HIVE. -- You withdrew 20 HIVE from Binance, but you did not factor in the 0.1 HIVE withdrawal fee that they have for some reason, so the actual amount became 19.9 HIVE.

Since 19.9 < 20 HIVE -- the bot refunded the transaction. One caveat here though, it refunded it back to Binance's HIVE wallet...

Now you know! But just checked my binance account and the coin have not been refunded yet. It is the same wallet I used to send in the first place. Pl have a look and see if the coins can be traced, but I do appreciate your efforts.

sorry I posted that above with my alt ID. That's me.

Just checked the explorer and see that the coins were returned to binance-hot but using the wallet address of my BSC wallet as memo. Is that why the coins have not been credited to my account?

https://www.hiveblockexplorer.com/tx/9960c97b1a88b5e010f4ef3c630d6cc4ff0d2e31

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Precisely, since binance's deposit account is something else entirely (deepcrypto8) and requires specific memo, they did not credit your account.

You can try contacting Binance support to see if they can give it back, but... I wouldn't be too hopeful.

Yup, its gone, well....

"Can I trust it?
It's up to you."

This is real talk. Thanks for this tool.
Very cool you created this. !PIZZA !BEER

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Fantastic! I always thought its very problematic to involve a company to send money to bsc. I used it because there were no alternatives. Now I have another option. Thank you!

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Tried it out. Works as promised - had BNB in my wallet in seconds.

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This is very useful! Yeah! :p

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awesome service!

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Excellent service that will be very convenient for users from countries where binace are blocked. Respect

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This is great! I hoped that someday I could buy Hive directly with something like BNB or CUB. Now I don't have to hope anymore. I'll mostly be going the BNB to Hive direction. I can turn CUB into BNB pretty easily and then just one more step and I've got Hive. Perfect! Thanks!

This was definitely something I was looking for. Thank you so much for this 👍
Have some !PIZZA

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Dude does this work to send to Metamask? I just put in the memo my BNB network address from my metamask?

Yes.