Introducing BHIVE - BEP20 Hive on Binance Smart Chain!

in #hive3 months ago (edited)

BHIVE

BEP20 Hive

whive.network/bsc



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What is BEP20 Hive (BHIVE)?

BEP20 Hive (BHIVE) is a BEP-20 token on the Binance Smart Chain blockchain. It's backed by "real" HIVE and can be converted ("unwrapped") at any time.

It allows HIVE to be traded on Decentralized exchanges (DEXes) on Binance Smart Chain and be used with DeFi platforms.

Informationabout project
Smart Contract0x347f041189fb4f005999db07a009d2ff63646c4a
Websitewhive.network/bsc
Hive account@wrapped-hive-bsc
BSC minting address0x3693f7449bd461f74975d571e7e3bc031ef73586
Token nameBEP20 Hive
Token tickerBHIVE
Decimal places3

How is BEP20 Hive different from Wrapped Hive?

Apart from living on another chain (and having a different name to avoid confusion), there are not many differences.

The only noticeable difference (apart from much lower fees) is that the smart contract is compatible with the Decentralized Wrapped Hive network, so when that's finished (~2 months), token migration to a new contract will not be needed.

Binance Smart Chain (BSC) is compatible with Ethereum Virtual Machine (EVM), meaning any contract running on Ethereum can be used on BSC as well.

BHIVE is already listed on PancakeSwap.


How does BEP20 Hive works?

Currently, there is an app acting as an oracle that is responsible for minting/burning BHIVE and storing HIVE.

For each HIVE received to @wrapped-hive-bsc (if the amount is over threshold and memo is valid BSC address), there will be 1 BHIVE minted on BSC. When BHIVE is converted back, HIVE is sent to the user, and BHIVE is burned.


Fees

  • Deposits (HIVE -> BHIVE)

0.999 HIVE fixed transaction fee (1 HIVE deducted from deposited amount, 0.001 refunded in confirmation transfer)

  • Withdrawals (BHIVE -> HIVE)

No fees.


Security?

Currently, the app is centralized and as such, there is always some risk. While I wrote code carefully and it was audited by other developers, there is always a chance that there is some security hole.


How to use BEP20 Hive ?

To get BHIVE tokens, visit whive.network/bsc website and enter your BSC address:

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After you click submit (and if the address is valid), you will see a popup asking you for an amount in HIVE (minimum amount is 1.001 HIVE for now):

slika.png

Enter some number and click "OK". If you use Hive KeyChain, you will be prompted to use to transfer HIVE, otherwise, you will be redirected to HiveSigner.

You will receive your BHIVE tokens to the specified address in a few minutes. If something went wrong, you will receive a refund.


To unwrap BHIVE, visit whive.network/bsc website again and enter your Hive username:

slika.png

Click on the Metamask logo, and confirm the transaction in the Metamask popup. You can also you other methods of calling a function on a smart contract and call convert function, with parameters: amountOfTokens, username


How to verify HIVE and BHIVE supply?

To verify HIVE stored in our account, go to hiveblocks.com/@wrapped-hive-bsc and you will see how much HIVE is there.

To get BHIVE supply, visit BscScan.com

Or just check out https://www.whive.network/bsc/verify.html and our app will do this for you.


For developers

The source code is available at: https://github.com/Wrapped-Hive/oracle, in bsc branch.


Disclaimer: This app is still in beta, so use on your own risk!


If you find any errors or vulnerabilities, contact admin[at]fbslo[dot]net or join https://discord.gg/ebQHNat.

@fbslo

If you like my work, please support me by voting for my Hive Witness!
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Great one!
Thanks for this .... I will probably try and send some hive on BSC.... since it makes sense with low fees actualy :)

now add ALL HIVE ENGINE TOKENS

Amazing work :)

Got myself some BHIVE today

This is awesome, with bridges like this we can start campaigning to get listed on various hot wallets too :)

Well done for this!

I guess that's good.
I'm not really a fan of these wrapped tokens anymore - look at wLeo-ETH pool on uniswap, it has almost 1,5 kk $ of liquidity and yet investors barely use this route.

Screenshot_20210206-155950.jpg

Uniswap fees are due to Ethereum. BHIVE is deploy on Binance. Hive blockchain apps developers need to look for fast & ow fees blockchain like Binance Smart Chain, Tron or TELOS.

Ok, but still without an incentive to provide liquidity this project will remain more of a fun one.

@fbslo might remember I tried creating bootstrapping posts for wHive liquidity providers, but I didn't reached enough attention to properly reward the providers.
Wrapped token to work needs something more than mere existence. No pun towards @fbslo intended, I admire your work and will help with support I can muster :)

I agree. I wasn't planning on creating BHIVE before the decentralized version is finished, but it was requested by community members.

Once a fully decentralized version is ready, I will create a proposal to fund liquidity provider incentives (in both Hive and new governance token).

Proposal ne bo uspel dokler ima bloktrades svojo menjalnico.

I'm afraid that proposal system is broken and it won't get any funding.
But, I think a tutorial how to provide liquidity, I mean a complex one with how to wrap BNB and Hive (the latter is easy peasy).
What we need to achieve is making Binance re-list BNB-Hive market

use https://alcor.exchange its going to add HIVE and steem and will be steem and hiveengine and uses telos eos wax bos etc

Great work. Next would be to explore polkadot and get hive into polkadot network. Not sure how easy or how difficult it is but just giving a thought. Nice work. Cheers!

Great work as always @fbslo!

Congratulation for this innovation. Great to have HIVE available to Binance Smart Chain.

A little bit ignorant about these financial instruments but will definitely learn and give it ago. Regards champ.

To je verjetno dobro, ta Binance swap je verjetno večji od ostalih decentraliziranih menjalnic... a je možno da bo šla cena gor več kot navaden Hive?

Gracias por compartir

Thanks for providing tool wrapping hive in bsc, I’ve tried it earlier and worked well. Great move, I believe dex built on alternative chains like polkadot, solana, bsc are the future of defi.

Yea, this is really nice and amazing

that's huge news!!

Awesome work.:)

Wow, great article, thank you!

Hey @doon check this out!!!

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To support your work, I also upvoted your post!

Check out the last post from @hivebuzz:

Feedback from the February 1st Hive Power Up Day

I looked into the pancakeswap but couldn’t find Bhive-BNB or Bhive-BUSD pairs in the farms. Is it possible to set it up and market it.

We need to tell people that pancakeswap is far better than uniswap because of the cheaper fee. The reason uniswap Leo pool currently have no volume is because ETH gas fees are sky high. Lots of people are unaware on this

BHIVE-BNB Pool on Pancakeswap is already created (their search engine probably needs some time to find it): https://pancakeswap.info/token/0x347f041189fb4f005999db07a009d2ff63646c4a

Thanks. I will wait for it to show up. Curious what kind of return it will post. Also unsure what controls the return of the pool... multiplier etc...

This should be marketable and requires funds. Why not write a DHF immediately?

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Also I am specifically talking about FARMS... just the LP have limited use. I understand LP is the first step, but we need a farm like this one...

This is great news!
Thank you for this project!
You already have my vote as Hive Witness!
Can
Can

New development this is really cool, when I saw the bsc, I was thinking about pancakeswap and I saw it there.

Now thinking if possible we can also farm hive token 🤔

Nice. Always good to see the chains and projects come together.

Great work 👍🏾 low fees are definitely a good thing and I think more people will buy these I will try it out later today

awesome work

Pretty impressed after trying it. I've been playing around with binance SC and the Bhive token simplifies everything.

Thank you

Amazing to see all the work going on :)

Good job!

Amazing work

This is supercool innovation! It sounds like there will be DeFi coming to Hive-engine?

Good job honey 😘

This is amazing, i can't wait to try it out

Nice we where brainstorming on this on our Hive-engine token nice move