BNB Chain integrated into ShareRing swap function

September 22, 2022

ShareRing users are now able to swap $SHR-BEP20 directly to $SHR-SLP3. 

Previously, users went through a 3-step process of swapping $SHR from Binance Chain (BEP2) to BEP20 (using Binance Wallet), then to ERC20 (using Multichain), and then finally into ShareLedger (ShareRing App). Through this process, users had to pay a higher gas fee in order to swap into ShareLedger.

The newly released solution allows users now to skip the ERC20 step and enter a more convenient 2-step process of swapping BEP2 (Binance Wallet) into BEP20, then into ShareLedger via the ShareRing app. If you hold SHR-BEP20, you can directly swap into ShareLedger via the ShareRing app. Plus, this updated swap module is able to increase transaction volumes, support both Ethereum (ERC20) and Binance Smart Chain (BEP20), reduce usage of centralized databases for keeping transactional data, and improve overall performance. 

What are the benefits of this new feature?

  1. Faster transactions 
  2. Significantly cheaper gas fees (since most of the transactions will be made on ShareLedger rather than on Ethereum)
  3. Increased efficiency when swapping $SHR into SLP3
  4. Usage of EIP712 to sign and verify the approvals on smart contract side

Check out the manual to discover how to swap $SHR-BEP20 directly to $SHR-SLP3.

From the ShareRing Blog

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