BitBay Weekly Update (June 4th)
Development Updates:
- We have exciting news to share! Our developer has managed to allocate some time in his busy schedule to start updating the C++ code for BitBay. This update will enable BitBay to bridge into the Ethereum-based ecosystem as an ERC-20 token. More time will be allocated as he completes his other major task. This will allow us to bring the dynamic peg protocol to all EVM's. It is a form of price stability without being hard pegged.
- Additionally, we have discovered that Avalanche (AVAX) has released a protocol that allows any ERC-20 token to be used for gas on any platform. This development will significantly benefit BitBay's bridge in the DEFI sector.
https://twitter.com/el33th4xor/status/1665368786004852737?s=20. Bridged BitBay tokens still utilize a form of our dynamic peg protocol, the peg requires more contracts than usual. With this new protocol from AVAX, swapping and adjusting the peg index will become extremely affordable. You can find the Goerli Testnet of BitBay's Swap here:
https://dzimbeck.github.io/test-page/.
- Moreover, this improvement will enhance the cost-efficiency of our EtHalo marketplace. The Goerli Testnet EtHalo beta can be accessed at:
https://bithalo.org/Ethalo/. EtHalo is a double deposit escrow marketplace that operates without a middleman. By eliminating the need for a middleman, we reduce fees and increase profitability.
Thank you for your continued support! We are getting closer to the finish line! For more information on how the dynamic peg works feel free to check out this presentation:
https://bitbay.market/downloads/bitbay-dynamic-peg-intro.pdf