PolkaBridge is a decentralized cross-chain protocol. It aims to act as a bridge between Polkadot and other blockchains. In this article, “What is PolkaBridge?” We will answer the question. In addition, we will touch on other questions about the project.
What is PolkaBridge? What does it do?
PolkaBridge is a decentralized application platform. One of PolkaBridge’s most prominent products is PolkaBridge DEX, a decentralized exchange that allows users to exchange tokens on Polkadot for other tokens on other blockchain platforms without any centralized organization. In addition, with the smart agriculture mechanism, liquidity providers can earn more rewards than they think.
What is PBR coin?
The PBR token is PolkaBridge’s native token and is an ERC-20 token. It is used for transactions on the network, staking, lending, and forecasting purposes, among others.
According to the official website, users can exchange tokens with PolkaBridge on the DOT platform. In addition, it can earn by adding liquidity, farming and credits.
The total supply of PBR tokens is 100,000,000 (100M tokens). Approximately 20,000.00 (20M) PBR tokens are in circulation. Since cryptocurrency is deflationary in nature and a small portion of every transaction is burned, the total supply decreases over time.
Multi-chain AMM
PolkaBridge has created a decentralized exchange powered by the AMM multi-chain mechanism that enables consumers to exchange tokens across all blockchains operating with a single platform. When fully implemented, PolkaBridge’s multi-chain AMM will assist Ethereum, Polygon, Solana, Polkadot and Binance Smart Chain (BSC).
As an example, consumers can trade ETH with PBR on the Ethereum blockchain. It is also able to trade BNB with PolkaWar (PWAR) all from one platform.
AMM cross-chain
After initiating decentralized exchange powered by the multi-chain AMM mechanism, the next step will be to improve cross-chain performance. Basically, this is a mechanism for replacing a token on 1 blockchain with a token on a different blockchain as a result of intermediaries or third events.
As an example, you want to trade Ether (ETH) on Ethereum with Polkadot (DOT) on the Polkadot blockchain. At this level, you will only need to deposit ETH into PolkaBridge’s ETH-DOT pool. Here, information about the current token in the pool will be used to determine the DOT conversion fee.
After calculating the DOT total, the Moonbeam wise contract will return the DOT token to the user’s wallet.
For the Polkadot blockchain, Polka Bridge will use Moonbeam’s parachain alternative. It will make it possible for Ethereum-compatible smart contracts to run on Polkadot and stay connected. Indeed, PolkaBridge will use two smart contracts running in parallel for exchange.
What is PolkaBridge? How to buy PBR coins?
PolkaBridge is currently traded on a small number of cryptocurrency exchanges. People who want to invest in the project should open an account in one of the exchanges where the project is traded. Exchanges where PolkaBridge is traded are listed as follows: MEXC, KuCoin, Gate.io, Hoo. Users who want to invest in the project should open an account on one of these exchanges.
