As the Binance Bridge closes, is FibSwap a new viable replacement? By CoinQuora

• Reports say Binance has just closed Binance Bridge.
• On November 25, 2021, at 08:00 UTC, it was closed.
• However, a new project is being uploaded as an alternative to Binance Bridge – FibSwap.

Binance had just closed its cross-chain bridge on November 25, 2021 at 8:00 UTC.

For those unfamiliar with Binance Bridge, cryptographic assets are a method of moving between different chains. This is quite significant, as interoperability between strings is crucial in crypto-space. Moreover, the closure of the bridge will limit the flow of assets between chains; therefore, it is difficult to exchange tokens for traders. The consequences of this action by Binance Smart Chain have caused a lot of tension in the industry and the division of the crypto ecosystem will increase.

Potential problems that may arise from this shutdown

Binance will close the bridge, which will impose many restrictions on people who are active in the chain. People will have more incentives to keep their assets in a centralized exchange because they are putting up more barriers. The problem with this is that there is a tendency for token owners to move to decentralized exchanges due to their lack of confidence in centralized exchanges.

However, history tells us that closing a door opens a window. Crypto-space is a constantly evolving space and new day-to-day projects offer more robust and optimized services as the old platforms are somehow obsolete.

While the world’s largest cryptography company is closing a door, there is another project that has opened a window. FibSwap, a multi-chain, decentralized exchange has emerged as a viable alternative to Binance Bridge with its robust set of functions, including the ability to exchange tokens at the click of a button. It is infinitely faster, faster and easier to use.

FibSwap – Disruptive DEX

FibSwap DEX uses what is called the IMBS Protocol – an “interoperable multi-chain bridge system,” powered by the FibSwap Smart Algorithm, without the exchange of cross-linked assets that creates a bridge between the two chains. The USP of the project includes the lowest gas quota in the market and the only aggregator in exchange for its lowest quota.

The project offers several features, including:

• $ FIBO – $ FIBO is a utility token that helps lower gas quotas on all chains and gives its holders specific transaction costs.
• Ease of Use – FibSwap token exchange is easier, and users can exchange their tokens as easily as cross-chain in a single chain like DEX and PancakeSwap.
• 10-second exchange – An ERC-20 token can be exchanged for a BE-P20 token in 10 seconds.
• A reliable DEX – A safe and secure place to trade cryptocurrencies in a decentralized environment.

All of these factors and features allow FibSwap to present a robust alternative to Binance Bridge, with a very fast and low-cost token exchange.

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