Hord.App is launching on Binance Smart Chain!
We have listened to our community and have decided to do something about the crippling gas fees on Ethereum. Hord is a platform that was always meant to democratize portfolio management and ETF investing for the masses. We want everyone to be able to enjoy the platform, regardless of the size of their wallets. It pains us to see that some users are simply unable to enjoy some of what we have to offer due to gas fees of $100 or more.
That’s why we have decided to speed up our vision for Hord becoming a multichain platform by launching the app on Binance Smart Chain (BSC).
Binance Smart Chain has seen enormous growth over the past year, capturing 20% of all crypto TVL in May. Developers love the fact that DApps built on BSC are compatible with the Ethereum Virtual Machine (EVM). This means that copying a project to BSC is a straightforward process that makes sense from a cost-benefit perspective.
Users love the extremely low fees on BSC. On Ethereum, if one wants to interact with a smart contract, depending on the timing it could cost anywhere from $100 to 300$. The same transaction would set you back a tiny fraction of that on Binance Smart Chain.
Another major point is that almost all launchpad projects these days launch on BSC. If champions want to stay ahead of the curve they will want access to these tokens. By launching hPools on BSC they have the chance to make these picks and capitalize on early stage project gains.
For these reasons we have decided to launch the Hord platform on BSC first, while still supporting Ethereum for those that wish to use it.
Using any of Hord’s services, be it staking for a champion NFT ticket, staking HORD tokens in our farms or subscribing to an hPool, will be 100 times cheaper on BSC. Transaction costs will never be a limiting factor anymore.
In terms of infrastructure, BSC uses the same wallet address as Ethereum so you can use your existing MetaMask or other Web3 enabled wallet on Hord.App.
For those that have HORD tokens on Ethereum, you can use our partner platform ChainPort to port your tokens to BSC in a safe and easy manner at app.chainport.io. A detailed tutorial on the process will follow shortly.
As for champions.hord.app, we will close staking on Ethereum and copy the entire state to the Binance Smart Chain. We’re releasing a more detailed explanation on the process soon.
The future of crypto is multichain. We strongly believe that blockchains will move to the background more and more as the crypto industry matures. Together with our partner ChainPort we have a long term vision of making Hord truly blockchain agnostic. In due time the platform will allow for any token on any chain to be part of any hPool.
The move to BSC is our first step in that direction. We are very excited about this move and all the growth it will bring to the Hord platform!
We understand that this move might bring up a lot of questions. As always our community managers are here to help on Telegram.