FAQ: Binance Smart Chain & PancakeSwap Integration
Here you can see answers to the frequently asked questions about wXDN/XDN, Binance Smart Chain, PancakeSwap.
Is XDN going away?
No. XDN is the native coin of DigitalNote ecosystem and is core to the DigitalNote strategy.
Is wXDN a new coin being introduced?
No. wXDN is the same coin as XDN. To make it simple: wXDN is XDN on the Binance Smart Chain.
What is the contract address of wXDN on Binance Smart Chain?
wXDN's contract address is: 0xbea2576f400b070c7cdf11d1cbb49de0c84e3bcf
Will wXDN have a separate explorer than XDN explorer to view the wXDN activity?
Is the total supply of wXDN+XDN going to be more than total supply of XDN?
No. The total supply stays the same as the total supply of XDN. When you convert XDN to wXDN, your XDN is locked and no one will have access to it until you convert back from wXDN to XDN (you don't have to.) If you choose to convert wXDN to XDN, the amount of wXDN you are converting is burnt and an equal amount of XDN is unlocked and transferred to you.
Why do I see a big pool of wXDN on BSC scan?
DigitalNote has two options in terms of XDN->wXDN conversion: 1) to share the private key with the conversion service provider so that they can generate wXDN on the fly as users convert 2) Not share the private key with the conversion service provider and keep a mempool of 1B wXDN so that the users can still convert in realtime.
In the best interest of the community and the project, we chose option two to ensure full security. So in other words, we will keep a mempool of up to 1B wXDN, and users convert their XDN to wXDN, the wXDN will be taken from the mempool. The mempool process will make sure that at no point there is any additional supply in the ecosystem than the total XDN supply.
Binance Smart Chain brings cross-chain interoperability to the Binance ecosystem. It is an Ethereum EVM 100% compatible blockchain, and is very good at decentralized application (Dapp) development within many possible verticals including DeFi, NFT, Gaming, and many others. You can read more here.
No. However, it's one of the core components in the Binance ecosystem. You can read here how Binance Smart Chain and Binance Chain are complementary to each other in their dual-chain architecture.
No. You will be able to convert your wXDN to XDN at any time at 1:1 basis.
Should I move my XDN to Binance Smart Chain?
The choice is totally yours. The bridge to Binance opens up a universe of opportunities for XDN. You may decide to:
- Move to BSC to leverage pool contribution, or trade with other coins
- Keep your XDN on the QT wallet to be able to stake it
- Keep your XDN to run a Masternode to earn and contribute to the network security
- Keep your XDN on centralized exchanges
- Keep your XDN as a mix of some or all of above
There is minimal fees required by Binance Smart Chain when you convert wXDN to XDN - that's because this transaction happens on the Binance Smart Chain and requires BNB gas fees. On the other hand, XDN to wXDN conversion happens off the Binance chain, and the resulting tokens are deposited in your wallet's BEP20 address.
PancakeSwap is a decentralized exchange that runs on Binance Smart Chain. You can read more about it here.