Developers at Binance’s BNB Chain have announced BNB Chain Fusion , a plan to consolidate the existing dual-chain structure by merging the BNB Beacon Chain (BEP-2) and BNB Smart Chain (BEP-20) by April 2024.
This merger aims to streamline operations and enhance security by eliminating the complexities and vulnerabilities associated with maintaining two separate chains.
Users holding BEP-2 and BEP-8 tokens must transfer their assets to the BEP-20 chain to ensure asset preservation on a one-to-one basis. The transfer process can be facilitated through various platforms, including both centralized and decentralized exchanges, as well as the BNB Chain Wallet and other self-custody wallet options.
The BNB Chain Fusion, as the merger is referred to, sets a tentative deadline of April 2024 for users to bridge their assets.
However, those who miss this deadline will not be left stranded. According to a Cointelegraph report , a legacy feature will be available for late transfers, albeit with a waiting period of up to seven days for the recovery of BEP-2 assets post-fusion.
This recovery feature will lack a user interface and will operate solely via a command-line prompt. Developers warned that BEP-2 tokens lacking cross-chain support will not be recoverable after the fusion.
This merger aims to streamline operations and enhance security by eliminating the complexities and vulnerabilities associated with maintaining two separate chains.
Users holding BEP-2 and BEP-8 tokens must transfer their assets to the BEP-20 chain to ensure asset preservation on a one-to-one basis. The transfer process can be facilitated through various platforms, including both centralized and decentralized exchanges, as well as the BNB Chain Wallet and other self-custody wallet options.
The BNB Chain Fusion, as the merger is referred to, sets a tentative deadline of April 2024 for users to bridge their assets.
However, those who miss this deadline will not be left stranded. According to a Cointelegraph report , a legacy feature will be available for late transfers, albeit with a waiting period of up to seven days for the recovery of BEP-2 assets post-fusion.
This recovery feature will lack a user interface and will operate solely via a command-line prompt. Developers warned that BEP-2 tokens lacking cross-chain support will not be recoverable after the fusion.