ECC 2.0 Multi-Asset Staking and Cross-Chain Swapping on Binance Smart Chain
Blockchain projects have been using Binance smart chain to benefit from a scalable, secure, fast, and truly decentralized network supporting multiple types of tokens and smart contracts. Besides DeFi use cases aimed at enterprises and developers, the Binance smart chain infrastructure is making a foray into decentralized finance (DeFi) — one of the fastest-growing crypto trends.
Etherconnect leverages Binance smart blockchain features to provide users with exciting products and potentially lucrative profit-generation opportunities.
What is Profit Generation?
The Etherconnect team behind Profit wants to streamline the exchange of tokens by helping blockchains better communicate with each other. The end goal is to build a cross-chain decentralized exchange that benefits users in the first place.
Etherconnect started on Binance Smart chain to let users trade faster and in a secure environment while enjoying lower fees compared to other DeFi protocols. Eventually, it will expand to other protocols to provide cross-chain solutions and thus reduce the current fragmentation of the blockchain industry.
Besides trading, users can earn crypto investment income by staking the native token, ECC 2.0, in the ECC/BNB liquidity pool. Users can also stake ECC to participate in Staking, and maximizing the potential gains. By crypto holdings, ECC 2.0 is attracting more crypto investors and “yield farmers” interested in DeFi earnings opportunities.
Etherconnect was founded this year and is backed by well-known institutional investors, including LongHash Ventures, Borderless Capital, CMS Holdings, Neo Global Capital, Kosmos Capital, Block Dream Fund, LD Capital, Kernel Ventures, and IBMR.io.
What DeFi Products Does ECC 2.0 Provide?
ECC 2.0 offers a suite of DeFi products revolving around trading digital assets and earning investment income. Currently, it provides three products:
ECC Bridges — ECC 2.0 Bridges is a mechanism that connects the BSC ecosystem with other major blockchains, including Ethereum, Binance, and Polkadot. The product allows users of the mentioned blockchain networks to benefit from the Binance Smart chain protocol and ECC ecosystem. Initially, BEP2.0 offers an ERC20 bridge that connects Binance Smart chain Standard Assets (BSAs) with the ERC-20 ecosystem.
ECC 2.0 will facilitate cross-chain staking for ASA, ERC-20, BEP-20, and other protocols. ECC 2.0 Bridges will also act as a fiat on/off-ramp.
ECC 2.0 Staking — ECC 2.0 Staking is the main product enabling users to earn passive income. Now, users can stake ECC 2.0 — an BSC-based token — and earn rewards in the form of ECC tokens. So far, this is ECC 2.0 flagship product, which is another staking mechanism with earning potential. Users can put their ECC tokens to work by depositing them into the no-loss smart contracts and receiving airdrop in exchange.
Thanks to staking with ECC 2.0, the total locked value (TVL) on ECC 2.0 surged to several weeks after the launch other Etherconnect protocol, and it is helping the DeFi ecosystem make it to the top 40 DeFi protocols by TVL.
ECC 2.0 Ecosystem provide higher-than-average gains and, more importantly, are secure. The smart contracts have been audited by award-winning cybersecurity firm Halborn, which previously verified Coinbase, BlockFi, and Stellar, among others. According to Halborn’s report, ECC passed all assessment steps.
The Benefits of Building DeFi Products on BSC
There are several reasons why the ECC team decided to build the DeFi ecosystem on Binance Smart chain.
Binance Smart chain Pure Proof of Stake (PPoS) solves the blockchain trilemma by achieving the three key elements — scalability, decentralization, and security — without compromising any of them. On top of that, BSC puts an emphasis on user experience, enabling developers to build decentralized applications (DApps) centered on speed and performance.
The greater scale allows BSC to ensure high throughput and low costs, which is essential for DeFi protocols aiming to go mainstream.
The network’s PPoS consensus mechanism randomly selects the next block validators from the entire pool of BNB token holders, which maintains the security of all transactions and smart contract operations. The PPoS algorithm makes cheating by a minority of potential bad actors mathematically impossible, while cheating by a majority is unfeasible.
Thanks to almost instant finality, transactions become permanent within seconds, and there is no way to tamper with the network since it’s unforkable.
With nominal fees, fast transaction speeds and energy-efficient design, Binance Smart chain is the ideal platform upon which to build a future-proof DeFi solution. The ECC 2.0 really has the potential to become a major onboarding platform into the DeFi ecosystem at large.”
With ECC 2.0, which has secured millions in TVL within less than six hours, Binance Smart chain proves that it’s an ideal choice for DeFi use cases. Its smart contract infrastructure, the Binance Smart chain framework, and atomic swaps can be combined to develop sophisticated DeFi ecosystems in line with the latest trends.
Etherconnect Worldwide community-