Nerve Finance — an important value-link on Binance Smart Chain
When Binance Smart Chain came into existence, AnySwap was a very early adopter who immediately provided a possibility to bridge BTC, ETH, USDT, FSN and other currencies onto Binance Smart Chain. At the same time Binance issued the same currencies on Binance Smart Chain, through a so pegging-system which were utilized in many start-up applications on Binance Smart Chain, but ultimately relies on trust in Binance.
More is usually better, but it also creates a rift as users expect to go from one to the other format easily. The any-Versions of these coins have held the advantage of being 100% backed by their respective currencies, through AnySwaps decentralized bridges that can be used by anyone, while the Binance versions of the coins have had greater adoption and usability in many apps on Binance Smart Chain and Binance.com.
Nerve.fi is here to solve this rift on Binance Smart Chain, which will be great both for AnySwap assets (that are connected to the wider network of chains) and Binance issued assets (that are more widely used on BSC and are adopted by Binance.com) and will help people move their assets wherever they may want them.
Currently Nerve.fi has solved this issue for BTCB/anyBTC and ETH/anyETH by creating high-incentive pools to provide liquidity between these assets that quickly grew in popularity (since they are essentially risk free against impairment loss).
We’ll be looking forward to more such pools from Nerve.fi that will help connect popular stablecoins on Binance Smart Chain.
We may also end up seeing other projects use this model for their own coins, in order to connect the multi-chain bridge with a pre-existing Binance Smart Chain bridge.