Imagine that the Minter blockchain is an actual government, Ethereum is another government. There’s a gap between them that makes communication, trading impossible, and those things are needed for a government to prosper. There are many blockchains like this and new ones keep appearing, like Binance Smart Chain, and they all have this gap between them.
Now imagine bridges over those gaps that can be used to move between the blockchains. Minter Hub plays the role of such a bridge.
Having assets on different blockchains, you can move them: from Ethereum to Minter and Binance Smart Chain, from BSC to Ethereum and Minter, from Minter to Ethereum and BSC. In the future, Polkadot, Cardano, Solana, and other popular networks will be connected as well.
Oracles assure the functionality of the bridges. Oracles are validators of the Minter Hub sidechain, who are responsible for its functionality by completing trade transactions between the networks. For cross-chain transfers, users will have to pay a 1% fee in the coin they want to transfer.
Cross-chain transfers will be performed through the Honee app. You can lower transfer fees if you have a certain amount of HUB on your Honee app balance.
Primary ways of using Minter Hub:
- Transfer of tokens with conversion. If a user needs to transfer USDT from Binance Smart Chain to Ethereum with conversion to USDC. Here’s the process:
- Transfer of pretty much any cryptocurrency to any user of any of the three blockchains. This use case is interesting because by having any token on a Minter address, and BNB and ETH on BSC and Ethereum, respectively, it’s easy to send it to another network. For example, when a transfer is coming from Minter, the tokens are converted to the token the receiver needs right before the withdrawal and, through Minter Hub, are sent to the specified address. On Minter, it’s all done by simply entering the receiver’s wallet address, the ticker, and the number of tokens to be sent, after which all the conversions and transfers are done.
- Liquidity on demand. Perhaps the coolest function: among active users of blockchains, there’s the common task of having to get a certain required amount of tokens. On Minter, the task is accomplished like this: the swap prices across three networks are compared (Minter, Ethereum, Binance Smart Chain) in every liquidity pool, then the most optimal route is calculated, including transfer expenses and the gas, and the process begins.
— The USDT is deposited to Minter
— On Minter, it’s traded for USDC within liquidity pools
— Afterwards, it’s withdrawn to Ethereum
The simplest, fastest, and most decentralized method that guarantees the completion of a transaction in any volume.
➡️ Next section
© 2022 BTC.Secure Inc.