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BYDFi lists $WAN – The Original Blockchain Interoperability Solution with Market Cap Reaching $59.2 Million - Chainwire

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18Dec

BYDFi lists $WAN – The Original Blockchain Interoperability Solution with Market Cap Reaching $59.2 Million

Mahe, Seychelles, December 18th, 2024, Chainwire

Wanchain’s platform native token, $WAN, has been officially listed on the BYDFi crypto exchange. Users can now buy, sell, and manage $WAN through the BYDFi platform.

Wanchain is the first decentralized blockchain interoperability solution in the world. It helps anyone to move their assets across 39 blockchains in secure, fast and cost-effictive way. Wanchain supports both EVM and non-EVM blockchains like Bitcoin, Cardano, Solana, Tron, Polkadot, and many more.

Wanchain pioneered cross-chain transactions by building the first-ever decentralised bridge between Bitcoin and Ethereum back in 2018 coining the term blockchain bridge.

Over the last 6 years in the blockchain industry, Wanchain developed a whole suite of complimentary blockchain interoperability products such as:

  • Wanchain Bridge – company flagship product that facilitates thousands of cross-chain transactions every month with nearly $1.3 billion total volume. It boasts the best security track record in the industry – running without interruption for 6+ years without any exploits. Users rely on it to send transactions ranging from a couple of hundred to hundreds of thousands of dollars.
  • Wanchain XFlows – the most popular service that works automatically within Wanchain Bridge. It gives users native or native equivalent BTC, ETH, USDT and USDC, so they can avoid holding wrapped assets.
  • Wanchain XPort – cross-chain data transfer protocol that allows developers to build the next generation of cross-chain Dapps. Recently they published a case study showcasing how a blockchain uses this technology to make their chain theft-free. This is just one of dozens of its applications.
  • Wanchain NFT Bridge – allows users to send NFTs across Ethereum, BNB Chain, Polygon and XDC network with speed, security and low-cost.

This year Wanchain has introduced Convert n’ Burn System where bridge fees are collected from every transaction on Wanchain Bridge. These fees are then converted into $WAN creating constant buying pressure. Furthermore, this converted $WAN is being distributed to enhance Wanchain’s L1 blockchain, ecosystem, $WAN token and its suite of blockchain interoperability products with this split:

  • 40% goes into the Community Treasury.
  • 30% is used to constantly improve Wanchain Bridge.
  • 20% is to reward PoS and Bridge Nodes.
  • 10% is burned.

In less than six months, this system was able to accumulate 1,200,000 WAN ($338,000) in Community Treasury and burn 306,000 WAN ($86,000). Burning the WAN token on a daily basis via the Convert n’ Burn System creates token scarcity and higher demand. Once the burn rate outpaces the rewards to PoS nodes, WAN will officially become a deflationary token.

WAN token also has manyfold utility further increasing its price potential:

  1. Use WAN to execute transactions on #Wanchain L1
  2. Use WAN to deploy and secure a PoS Validator Node
  3. Stake WAN to bolster PoS Validator Nodes, earn 5.25% APR
  4. Use WAN to deploy and secure a Wanchain Bridge Node
  5. Stake WAN to bolster Bridge Nodes, earn 6.44% APR
  6. Use WAN to interact with DeFi applications
  7. Stake and hold WAN to get up to 80% discount on bridge fees

Wanchain’s price is $0.282, up 3% in the last 24 hours, with a live market cap of $59,218,491. 94% of the token supply is already in circulation – 198,434,732 WAN from the maximum supply of 210,000,000 WAN. The 24-hour trading volume is $2,390,108.

Compared to other blockchain interoperability protocols, Wanchain has a 5-15x lower market while having potentially better cross-chain technology leaving a lot of space for growth.

Users can now purchase WAN tokens through BYDFi website or BYDFi Application.

About BYDFi

Founded in 2020, BYDFi has earned the trust of millions of users worldwide through its commitment to optimizing user experience and continuous innovation. Recognized by Forbes as one of the Top 10 Best Global Crypto Exchanges, the platform offers spot trading for over 600 cryptocurrencies as well as flexible leveraged trading options ranging from 1x to 200x. By partnering with internationally renowned payment service providers such as Banxa, Transak, and Mercuryo, BYDFi has simplified the crypto purchasing process, enabling users to buy crypto with ease and at low costs.

BYDFi will soon introduce a “BYDFi Copy Trading” that saves users time on market analysis and decision-making, allowing beginners and busy investors to automatically copy the actions of professional traders, making trading more efficient and convenient. BYDFi is committed to delivering a world-class crypto trading experience. BUILD Your Dream Finance

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