Unido Announces New Binance Smart Chain Bridge
Wrapped $UDO via AllianceBridge will replace the prior wrapped $UDO provided by ChainSwap, which was compromised by a hacker in July.
Update on Chainswap
Unido has obtained partial compensation for affected holders from ChainSwap for approximately 40% of their holdings. Although the ChainSwap contract was not the responsibility of Unido, we have decided to make-whole the affected users from our project’s allocations, as we value the each and every $UDO holder. We will airdrop the new BSC $UDO to the wallets currently holding the now defunct ChainSwap $UDO on a 1:1 basis.
To be clear, the Chainswap $UDO has no value and no further consideration will be given to it by Unido, after the airdrop of the replacement BSC $UDO. The timing of the airdrop will be within the next 7 days with no notice given prior to transacting. No consideration will be given to any new buyers of the ChainSwap $UDO as of now, if they acquire the old $UDO and the replacement $UDO is airdropped to the prior owner (seller).
Update on Unifarm
For the $UDO which is currently staked in the Unifarm pool, we will airdrop the replacement tokens directly into the pool and Unifarm will convert them. Any questions on the conversion within the pool should be directed to Unifarm, as we have no visibility to this process.
Bridging UDO from Ethereum to Binance Smart Chain
Going forward, by using AllianceBridge, $UDO holders will easily be able to swap/trade/transfer their $UDO tokens from Ethereum to BSC, benefitting from the broader BSC ecosystem and its far cheaper gas fees compared with that of Ethereum lately.
The bridging dashboard can be accessed at https://alliancebridge.io/ for swapping from ERC to BSC (and BSC to ERC). Cost of bridging transaction is 1 $ALBT + network gas on both sides.
$UDO BSC Contract Address: 0x70802af0ba10dd5bb33276b5b37574b6451db3d9
$UDO ERC Contract Address: 0xea3983fc6d0fbbc41fb6f6091f68f3e08894dc06
Stay tuned this week for further BSC-related announcements to get our community pumped for our dual chain ecosystem!!
To learn about AllianceBridge, click here:
AllianceBridge Introduces Seamless and Fully Decentralized Interoperability Between Blockchains
You can read the AllianceBridge Tutorial here
The AllianceBridge was specifically designed for DeFi products to be usable across the various blockchains, and one of the significant reasons the Unido team chose AllianceBlock’s products to build our ecosystem further.
AllianceBridge is an open-source, fully audited interoperability platform that provides users with fast, secure, and chain-agnostic solutions to connect multiple blockchains. The bridge was designed explicitly for DeFi products in mind to be available across various chains, including support for Binance Smart Chain, Ethereum, Polygon, and Avalanche. The technology is also being developed further for EVM (Ethereum Virtual Machine) and non-EVM compatible blockchains like Solana, Cardano, etc.
Unido is an enterprise platform for decentralized capital markets. It enables institutions & corporate clients to securely store, manage and invest their crypto assets into decentralised finance networks. Unido is underpinned by proprietary key signing technology that provides enterprise-grade security for any transaction which utilises it.
Founded in 2017 and with a market-ready product, Unido is led by an experienced team of ex-Goldman Sachs, ex-Macquarie and ex-Wipro with decades of experience in enterprise software development, financial services and agency blockchain development.