WEYU Token bridges with Solana Portal
- Article created: 20th Jun 2022
Recently we revealed our brand new WEYU Roadmap for 2022 and beyond as we prepared for what is proving to be the biggest (and busiest) months in WEYU history. Leading with the unveiling of our new Solana NFT Marketplace – a platform built to drive adoption across the NFT space, which is now officially live with already over 150,000 listed Solana NFTs – WEYU is now ready for the next stop on the road, towards the Solana token bridge.
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Bridging Binance with Solana
WEYU has partnered with Solana-funded powerhouse Portal, who have successfully helped dozens of projects bridge their tokens to Solana from multiple blockchains. This will allow WEYU to bridge its Binance Smart Chain (BSC) token with the Solana blockchain, offering projects and their user's near-limitless possibilities in staking Defi and NFTs. You can expect a dedicated and detailed blog post on this very subject soon. But, before we go any further, you may be wondering – what is a Portal anyway, and what exactly is a “bridge?”
Facilitating token transfers across blockchains with Portal
Portal is a platform that allows users to swap tokens from and to the Solana Blockchain. By building bridges between chains, Portal is able to facilitate transfers from one chain to another. This service, known as a “blockchain bridge,” enables projects and communities to transfer tokenized assets seamlessly across blockchains and take advantage of Solana’s key network benefits - its high speeds and low costs. Now we’ve covered that, let’s take a closer look at how the Solana Portal bridge will impact WEYU?
The Solana WEYU token
This new Solana WEYU token will be multi-versatile, meaning that it will possess the utility to be used in a multitude of ways across the WEYU Platform and ecosystem. The dynamic nature of this crypto-token will enable projects and their user’s with endless opportunities. Features of the WEYU token that now include are:
- Exclusive Entry to Drops and Events
- Fee distribution
- DAO Membership/Proposals
- In platform/game purchases
- Community Mining
- NFT Cash Back and loyalty programs
Now, looking ahead to after our WEYU Portal bridge announcement, we have something very special. Who likes to Farm? You!? Well then, get your WEYU ready, your overalls and straw hat on because the most advanced and robust Defi Farm is coming to the WEYU platform very soon!
Alongside WEYU’s newly revealed Roadmap, it is evident that the Solana-based WEYU token will play a significant role within the entire ecosystem. From staking to fee distribution, we look forward to seeing the evolution of our WEYU token inside of this already vibrant NFT-dedicated ecosystem that WEYU has built.
This Friday, June 24th we will be hosting a Twitter Spaces to discuss more, and have video and written content published about how to participate in this new era of WEYU. So, stay tuned across our socials for more information.
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