We are thrilled to announce that we officially migrated to Binance Smart Chain
Our strategically vital step in the development of the bridge between CeFi and DeFi infrastructure reached its triumph, as we are now officially deployed on the Binance Smart Chain.
Old Contract (Ethereum Network): 0x0f02e27745e3b6e9e1310d19469e2b5d7b5ec99a
New official contract (Binance Smart Chain) : 0x1dbdf52915875f749cbaeaaf515252455b623f6e
The Rationale on the Migration to the Binance Smart Chain
PCL’s migration to the Binance Smart Chain (BSC) is the first step on our way to becoming an ultimate Multichain wealth management platform enabled on different blockchain networks. However, we are mainly planning to operate our SAIΞVE app on top of the Binance Smart Chain to further support the growth of the BSC ecosystem.
The integration of the PECULIUM’s native PCL token and its features and utilities on the Binance Smart Chain will enable advanced smart contract capabilities and massive computation for PECULIUM, which will achieve sustainable, scalable, and secure performance on top of the Binance Smart Chain. This will allow users to take advantage of its low fees and high throughput efficiency.
In a nutshell, the majority of the SAIΞVE app was based on Ethereum mainnet, however, the gas fee upward trend on Ethereum mainnet makes users think twice before transferring a small number of tokens or PCL, thus the current situation with the gas fees on is still a huge barrier for small transactions. Meanwhile, promising mainnets like BSC is characterized by fast decentralized transactions with high TPS (transactions per second) and low fees. This integration enables high-tech smart contract functions and large-scale calculations, enabling low fees and high throughput efficiency. That’s why projects with long vision like PECULIUM can see the upcoming issue for PCL token holders and solve it by making the SAIΞVE app multichain.
BEP-20 version of the PCL Token replace existing ERC-20 PCL tokens. PECULIUM can create new use cases of PCL tokens (BEP-20) and expand the ecosystem by expanding accessibility in conjunction with various projects.
Why did we choose the Binance Smart Chain?
This made sense for our users for the following reasons:
The low cost of transactions and on-chain operations is definitely a factor here. During periods of high congestion on the Ethereum network, the same transaction can cost over 500 to 1,000 times more on Ethereum compared to BSC.
Ease of Bridging
Developers have created several cross-chain bridges so that BSC users can easily move tokens from one blockchain network to another.
Non-volatile Gas fees
Gas fees on BSC are relatively constant. The average transaction fee has been hovering around $0.15. Ethereum, on the other hand, experiences massive fluctuations in gas price with surges to over $150 for a simple transaction in times of extreme network congestion.
Growing adoption rates
Binance has an established user base from which it is has been able to draw an exponential amount of users to BSC. This allows for much faster adoption. The number of unique addresses on BSC has grown 10x to over 94 million unique addresses and the total number of transactions has increased 15x since the beginning of this year. In addition, the Binance Smart Chain is available in several languages which is vital for broader adoption and exposure to more potential buyers.
Benefits of building projects on BSC
The dual smart chain architecture of Binance Smart Chain makes it easy to transfer assets from one blockchain to another blockchain. This flexibility makes it effortless for users to access a vast ecosystem with diverse use cases without limitations. DeFi proponents highly value interoperability, and Binance Smart Chain brings that to the forefront.
- Transaction Speed
For a transaction to be successful on the blockchain, there are many confirmations necessary to take place for complete processing. These confirmations serve as a means of preventing erroneous transactions such as double-spending. The longer the confirmation time, the more time it takes for a transaction to be processed entirely. Avoiding unnecessary delays during transcription is a crucial factor developers consider before settling for a blockchain protocol.
Ethereum has become affected by scalability issues in recent times, leading to congestions and longer waiting times for transactions to be processed entirely. Binance Smart Chain was uniquely designed to enhance blockchain scalability with ultra-fast processing speed for effortless implementation of smart contracts to build scalable, user-friendly, decentralized applications. By improving the existing structure of Binance Chain, a high-performance, low latency blockchain, the Binance Chain was built to enhance speed but unable to handle smart contracts.
We realize that high fees on ETH have become a serious challenge for investors. That is why we have decided to migrate to Binance Smart Chain (BSC). From now on, high fees are not a barrier limiting your trading and investment activities in PECULIUM. The solution addressing the issue is already at hand.
We are also going to enable you to trade PCL on BSC exchanges. Stay tuned!
About Binance Smart Chain
Binance Smart Chain is a sovereign smart contract blockchain delivering Ethereum Virtual Machine (EVM) compatible programmability. Designed to run in parallel with Binance Chain, Binance Smart Chain retains the former’s fast execution times and low transaction fees while adding Smart Contracts functionality to support compatible DApps. For more information on Binance Smart Chain, visit the website here.
We know the digital asset market is new, complex, and one of the most difficult investment ecosystems to access. Our team at PECULIUM seek to take the ‘guess work’ out of manager selection, capital allocation and portfolio diversification by providing a well-curated selection of investment products and Digital Assets. We use Technology to build financial tools and help investors grow and manage their money, with no effort from them.
PECULIUM has developed the SAIΞVE app, a wealth management platform for Digital Assets. SAIΞVE App combines Artificial intelligence and Smart contracts, implementing elements from traditional savings and investments with all-data-driven decision investments making. The technology underlying our SAIΞVE App is based on decades of knowledge and experience gained from academia and tier 1 investment banking software development. Our analytics engine has been extensively tested in different sectors and economic cycles and has shown consistent performance and superior insights.
PCL is a BEP-20 multi-utility token granting access to PECULIUM services and rewards to users and stakeholders. It is more than just a tradable asset, it is an investment in our community’s future.
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