Alexey Koloskov | April 4 2022
Alexey Koloskov | April 4 2022
Orion Pool migration: ETH to BSC. Better value.
Orion Protocol now enables users to migrate their Orion Pool liquidity from ETH to BSC, creating improved efficiency and greater value via the BSC chain.
Users can now migrate their ETH pool liquidity to BSC pool. With BSC generating two or three times more fees than on ETH, they are significantly more efficient to participate in, creating an instant saving and providing more longevity and affordability in the future amongst a series of other advantages - thus creating value. This big advantage for both traders and liquidity providers means several clear benefits are in place for users migrating their pool to BSC.
Benefits of migrating your ETH pool to BSC
In addition to more fees being generated via BSC, it also means greater rewards for liquidity providers - fully governed by ORN stakers via Orion’s decentralized Governance voting.
Switching ETH pool tokens to BSC pool on Orion Terminal ensures the migration is conducted safely, securely and in a trustless manner using Orion’s peer-to-peer, cross-chain, cross-exchange bridge, Orion Bridge. True L1 to L1 bridging with no wrapping or minting. Safe and secure.
Orion Pool is more efficient than Uniswap or any other pool in terms of generating fees per $1,000 for several reasons:
- the pool runs on a cheaper blockchain, BSC, meaning gas fees are drastically reduced compared to those running on the ETH blockchain.
- with Orion’s new VOBs (Virtual Order Books) feature coming up, users will be able to very simply launch third-party arbitrage bots. This creates a tremendous scope for utilizing all available arbitrage opportunities among cross-chain pairs on Orion Terminal.
Orion Pool is integrated via Orion’s liquidity aggregator, creating instant arbitrage opportunities with the connected CEXs for users.
Uniting liquidity, creating value
Migrating ETH pools to BSC unites scattered liquidity across both chains, making the process more uniform on the lower cost and faster BSC chain whilst offering several cost-effective benefits for users. Holding significantly greater value on the BSC chain attracts new potential liquidity providers to Orion Terminal, which therefore has more fees and rewards associated with it.
New liquidity providers engage with the migrated BSC pools, and with the attractive benefits associated via BSC, this drives more liquidity and trading volume through Orion Terminal, in turn generating additional fees through Orion Terminal.
Migration is available to any of the listed pools which have tokens deployed on both chains. Similarly, any potential future migration is only possible if the tokens are on both ETH and BSC chains. The gas fee involved in the migration is optimized for simple transactions, making the gas required in the process as minimal as possible. Once the pool is migrated to BSC, all the aforementioned benefits will apply.
How to migrate your ETH pool to BSC
To migrate your ETH pool liquidity to BSC, follow our tutorial guide here.
** Please note: initially, an amount of BNB must be present in the wallet for the migration to successfully complete. Please make sure you have an adequate amount of BNB in there before commencing the migration. ETH will also be needed for gas.