1/ The Nexus beta is live on #ICONProject mainnet with support for ICON and BSC Smart Chain!
What does this mean?
Let's dive in. 👇
2/ Nexus is a frontend application that focuses solely on cross-chain token transfers. With Nexus, you can lock up ICX on ICON, and mint BEP-20 ICX tokens on BSC. Similarly, you can lock up BNB on BSC, and mint IRC-2 BNB tokens on ICON.
3/ Nexus is powered by ICON Bridge, a cross-chain solution being developed by ICON. While the end goal of ICON Bridge and BTP 2.0 is to support a variety of cross-chain smart contract use cases, Nexus kicks things off with the familiar token transfer use case.
4/ Over the coming months, we expect Nexus and ICON Bridge to positively impact DeFi on #ICONProject and connected chains. This means we should see increased transaction activity on ICON!
5/ One use case that Nexus/ICON Bridge enables is support for more assets on the @BalancedDAO DEX. Until now, Balanced only supported ICON-native assets. Starting today, Balanced will be able to bring BSC-native assets like BNB and BUSD to ICON!
6/ Being able to connect to a top tier chain (in terms of market cap, transaction activity, and brand recognition) is huge for DeFi on ICON! BSC-native assets are in-demand, and there will be undoubtedly be arbitrage opportunities that traders will want to take advantage of!
7/ The launch of Nexus and ICON Bridge on mainnet is only the beginning! We look forward to seeing how builders will leverage this cross-chain technology to create innovative products in the near future! Stay tuned. #ICONProject $ICX
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