MVL Bridge page has opened where users can move their existing Ethereum-based MVL tokens to the Binance Smart Chain. Users can freely transfer between MVL ERC20 tokens and MVL BEP20 tokens through the MVL Bridge.
What is BEP20 Token?
MVL began supporting two types of tokens which are MVL-ERC20 and MVL-BEP2, after launching the swap page in September last year. MVL-BEP20 Token was newly added with the launch of the MVL Bridge.
BEP20 is a standard token used in Binance Smart Chain. Binance Smart Chain can support an intelligent contract, unlike Binance Chain, and is being chosen for building the DeFi ecosystem since it has low transaction fees compared to the Ethereum blockchain, fast transaction speed, and high compatibility with outer assets.
MVL Bridge page
MVL Bridge is considered the first gateway to MVL blockchain service.
MVL plans to build various blockchain services to be introduced in the future, such as DeFi, NFT, and games, on this Binance Smart Chain. Therefore, the demand and utilization of the MVL BEP20 token will gradually grow.
The MVL Bridge page only supports the ERC20 ⇄ BEP20 chain transfer of MVL tokens. For BEP2 tokens, you can use the bridge service after first swapping them to ERC20 tokens through the existing swap page.
FYI, ERC20 -> BEP2 swap service is temporarily stopped for concerns of confusing existing swap service and Bridge service. BEP2 -> ERC20 swap service can still be used.
To support the smooth service use of holders, we have prepared the MVL Bridge user guide and FAQ, so please follow the guide. MVL team will not be held responsible for using the MVL Bridge that was not described in the user guide. If you have any questions, please check the FAQ first. If there are any unresolved problems after then, please contact us through the MVL official telegram or support email([email protected]).