Seedify Announces Cross-Chain Integrations with the Ethereum Network
Seedify will use the integration to boost growth, leveraging Ethereum’s increased efficiency post-Merge.
The Merge
The long-awaited Ethereum merge (software update) will most likely occur in September this year, this will be the largest fundamental shift in the history of crypto.
The network has suffered an immense increase in traffic and uncontrolled spikes in gas fees (transaction fees). The merge will ultimately alleviate these bottlenecks, making the network even more secure and less energy-intensive by switching from the Proof-of-Work to the Proof-of-Stake framework.
Ethereum has predominantly been the most popular network for new blockchain entrants, as well as NFT users.
Seedify Leverages the Merge
As Seedify eagerly waits to see one of the biggest moves forward in the crypto industry so far, it is also prepared to integrate with the upgraded Ethereum network by opening a parity pool between its native token, $SFUND and Ethereum ($SFUND/ETH).
The integration will enable Seedify to expand its community, reach new audiences and enable easy adoption for new holders, stakers, and farmers to their ecosystem.
With the multichain support provided, anyone using the Ethereum network will be able to adopt Seedify utilities much faster, thus adding an extra layer of growth to boost their utilities and $SFUND.
$SFUND/$ETH Farms
In an effort to extend the reach of Seedify’s ecosystem, they will also be adding $SFUND/ETH farms very soon, to ensure the liquidity of $SFUND on Ethereum provides a healthy trading economy.
Seedify will also be holding surprise events to boost the exposure of $SFUND to Ethereum native users in order to increase the visibility of $SFUND on the Ethereum network.
How to Use New Features:
Users who want to enjoy the new implemented transfer can simply follow the below easy-to-use tool to seamlessly transfer $SFUNDs between BNB Chain and Ethereum without any issues:
#1: Go to Multichain.
#2: Click on “Enter App” (or alternatively go directly here).
#3: Connect your wallet (ensure you are on BNB Chain).
#4: In the dashboard provided make sure to select the following networks: BNB Chain Mainnet on top, and Ethereum Mainnet at the bottom.
#5: Select $SFUND by searching the token name on both box fields for tokens.
#6: Enter the amount of $SFUND you want to transfer.
#7: Click “Swap” at the bottom.
#8: Click “Confirm”.
#9: $SFUNDs will be transferred to the Ethereum network within minutes.
Holders can also transfer $SFUNDs from the Ethereum network, the process is similar except the first field needs to be changed. There is no commission deduction when transferring $SFUNDs bought from the Ethereum network to BNB Chain.
Cross-chain transactions are very simple and accrue only a small fee to complete the transfer.
Seedify’s contract addresses are as follows:
- BSC network: 0x477bc8d23c634c154061869478bce96be6045d12
- Ethereum network: 0x461d52769884ca6235b685ef2040f47d30c94eb5
For more information on Seedify and to purchase $SFUND please refer to their website. To stay up to date with Seedify’s announcements, follow their social media pages:
Media Contact
Laura Mallory, PR and Content Marketing Manager
E-mail: laura@seedify.fund
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
Related News
Prisma Finance Reportedly Hit by $9M Hack: What to Know
Prisma Finance paused its protocol operations for investigation and advised vault owners to disable delegate approval.
Reports have emerged indicating that DeFi platform Prisma Finance, fell victim to a hacking attack amounting to approximately $9 million. Cyvers, a web3 security platform, raised the alert after it detected suspicious transactions linked to the breach.
🚨UPDATE🚨Our system has detected multiple suspicious transactions with @PrismaFi and still ongoing!
— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) March 28, 2024
Total loss so far is around $9M. Attacker has funded by @FixedFloat!
Our system has detected the malicious contract 2 min earlier than hack transactions!👇
Our system would… https://t.co/9myoV8DL22 pic.twitter.com/SxT5yYZy7U
Initial estimates suggest a loss of $9 million, with the attacker reportedly utilizing funds from the crypto exchange FixedFloat.
Backing up Cyvers' findings, blockchain security firm PeckShield has confirmed the attack, providing details on the assets targeted by the hacker. Among the stolen assets are Prisma mkUSD and wrapped stETH.
In response to the breach, Prisma Finance issued a statement on X acknowledging the potential exploit. The project reportedly halted its protocol operations to conduct a thorough investigation into the incident.
Additionally, Prisma Finance advised vault owners to disable delegate approval as a precautionary measure.
We are aware of a possible exploit on Prisma.
— Prisma Finance (@PrismaFi) March 28, 2024
Core engineering contributors will pause the protocol and investigate.
We'll share an update and a post-mortem.
From DeFi Future to Security Concerns
Prisma Finance was initially hailed as the future of decentralized finance (DeFi), offering solutions in the form of a new LSTFi protocol. It enabled users to mint a fully collateralized non-custodial and decentralized stablecoin, mkUSD, using Ethereum liquid staking tokens (LSTs) as collateral.
However, the recent exploit paints a stark contrast to the platform's previous reputation, raising concerns regarding cybersecurity in the DeFi space.
Rising Trends in Crypto Hacks
The hack on Prisma Finance adds to a concerning trend in the cryptocurrency space. According to a Feb. 29 report by blockchain security firm Immunefi, over $200 million worth of cryptocurrency was lost to hacks and rug pulls last February, across 32 individual incidents.
This represents a 15.4% increase compared to the same period in 2023. Ethereum remains the most targeted blockchain, with 12 attacks accounting for over 85% of the total value lost in February.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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