The much-anticipated Secret BSC Bridge is now live on privacy-focused blockchain, Secret Network (SCRT).
The Secret BSC Bridge will strategically increase the number of supported Secret tokens on Secret Network while also improving interoperability between BSC, ETH, and Secret Networks.
According to the official blog post, BEP20 tokens can now be easily swapped for Secret Tokens (privacy-preserving tokens). This provides programmable privacy for assets on the Binance Smart Chain (BSC), along with several other benefits available on Secret Network.
Several BEP20 tokens are currently supported on the Secret BSC Bridge. Some of them include ETH, USDT, ADA, LINA, LTC, BCH, BNB, XRP, DOGE, BUNNY, FINE, XVS, CAKE, BUSD, USDC, LINK, etc.
Secret BSC Bridge Yield Options
Several amazing yield opportunities are currently available to the entire BSC ecosystem due to the recently launched bridge. Some of these opportunities include:
- Users will now receive Cashback tokens (CHSBK) for swapping with other Secret tokens.
- Also, users will earn APY as high as 72% for staking SEFI governance tokens.
- Liquidity providers LPs for the Secret Token / SCRT pairs will earn APY as high as 90%.
NEW: The Secret #BSC Bridge is finally LIVE on mainnet! 🚨
BSC users can now get programmable privacy for their assets and leverage the Secret #DeFi ecosystem for privacy, yield, and more.
Learn about the bridge & some upcoming secret opportunities 🤫👇https://t.co/tdqJsiXSMn
— 𝕊ecret Network (@SecretNetwork) June 15, 2021
More Details About The BSC Bridge
The Secret BSC Bridge is the second bridge to launch on the Secret mainnet. The bridge, as previously stated brings programmable privacy to BEP20 assets. Subsequently, converting them to privacy-preserving Secret tokens. Very similar to ERC20 tokens, they are programmable, and can be used in decentralized applications. Despite their expanding usage range, they retain their privacy feature.
The mainnet launch will also provide support for BEP20 Secret Tokens on Secret Network front-running, cross-chain AMM SecretSwap. The SecretSwap protocol since its launch has been gathering a lot of attention. The platform also recently crossed the $200 million benchmark in cumulative volume.
Secret Network: A MultiChain Privacy Hub
Secret Network (SCRT) is building a multichain privacy hub, one that will link together several chains in the crypto space. In line with this, the BSC bridge is the second chain to join Secret Network. The BSC bridge joins the Secret Ethereum Bridge on the Secret mainnet.
Plans are also in place to launch the Secret Monero Bridge and Secret Plasm Bridge. Both bridges are currently live on the testnet.
At the time of publication, SCRT token was trading at $1.39 with a 24-hour trading volume of $82,004. SCRT price is down 17.1% over the last 24 hours.
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