CORD.Finance now migrated to Binance Smart Chain (BSC) — Liquidity transfer, airdrops, vaults, with much more to come!

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CORD.Finance has migrated to Binance Smart Chain (BSC)

CORD.Finance has completed our migration from Ethereum to Binance Smart Chain (BSC)! For those who hold OLDCORD and have not yet migrated, you have until March 5th (as originally stipulated) to contact the CORD Team and request manual migration. However, any new purchases of OLDCORD made after this announcement will not be eligible for migration. Hence, do NOT BUY the OLDCORD token on Ethereum, or if you accidentally do, sell it back into ETH immediately. Eventually the OLDCORD-ETH LP will dry up — this is no longer officially supported as of NOW.

So what have we accomplished in the past week? A lot!

  • We printed updated, sophisticated CORD and VACC tokens on BSC, including the addition of many high-tech features for both tokens to better support cutting-edge DeFi applications. These include (among others) support for hodl bonuses such as the global VACC hodler’s multiplier, small transaction taxes to support future project growth and token buybacks, and burn functions to reduce supply over time with no possibility of ever increasing it.
  • In so doing, we also completed the rebranding that began with CORD.Finance, now on the VACC side, with token name “Vacuum of the Cosmos” — think the biggest supermassive black hole you can imagine, sucking value from the universe into the CORD.Finance project.
  • We extracted over 81% of the liquidity from CORD-ETH-LP. (As the current team do not own the keys, this was the best we could do.)
  • The liquidity was re-created 24 hours later through PancakeSwap on Binance Smart Chain in the CORD-BNB pair. The team topped up the liquidity to more than make up the amount left in the old pool, such that the price of CORD opened even stronger on BSC than where it closed on ETH. (Note, PancakeSwap is now bigger than UniSwap in number of daily transactions, so we are on the right horse.)
  • The CORD-VACC-LP was also funded on Pancake Swap with a deep LP, at the target VACC:CORD ratio of 100:1.
  • The staking vaults were deployed on BSC with high APY, and sophisticated value adding features including our usual myriad reward multipliers (fully described at https://cord.finance) and a new bi-token taxation model to better support future development and token buybacks going forward.
  • All investors were airdropped new CORD in the amount they had staked in the migration vault, and/or latecomers whom we authorized to exchange OLDCORD on ETH to new CORD on BSC.
  • All investors were airdropped new VACC in the amount earned in the migration vault up to February 19th (commencement of the liquidity swap), plus what they held in their wallets as of that day.

Okay great, so we did it, we’re on Binance Smart Chain. What’s the big difference? The difference is the gas, my friends. As everyone knows all too well, the Ethereum blockchain is a broken platform. Limited by a ridiculous 15 transactions per second, Ethereum is a 24/7 free-for-all bidding war where a typical basic interaction with a smart contract (for example, merely exiting a staking vault) now costs $150 USD (and rising). Since using a vault can involve several transactions (approve contract, stake in vault, lock vault, unlock vault, exit vault) it might cost an investor $750 USD to participate in a single vault. Often investors have multiple assets to stake across vaults, and even just two vaults could cost $1500 to enter and exit, all summed.

Enter Binance Smart Chain. On BSC, a typical vault interaction costs mere PENNIES (e.g., $0.15 is a typical fee). There is no contest between BSC and ETH, it is like Formula One vs. horse and buggy. All DeFi will eventually move off Ethereum, or die, simple as that. CORD.Finance moved in time, and now look forward to an extremely bright future. No longer shackled by Ethereum, we have many amazing plans and discussions already in the works, which will be announced in due course. Meanwhile, enjoy the near gas-free DeFi platform of the new CORD.Finance on Binance Smart Chain.

Okay I’m convinced, let me in! Sure, just visit this URL to see a simple walkthrough how to add Binance Smart Chain to your MetaMask https://academy.binance.com/en/articles/connecting-metamask-to-binance-smart-chain
Then join our staking vaults at https://pool.cord.finance

To buy or trade CORD-BNB on PancakeSwap visit
https://exchange.pancakeswap.finance/#/swap?outputCurrency=0xa3506a4f978862a296b29816c4e65cf1a6f54aaa
To buy or trade CORD-VACC on PancakeSwap, enter the contract addresses of CORD and VACC in the PancakeSwap exchange token fields.

HINT: If you use MetaMask, make sure to set the gas cost to 10 Gwei manually when sending tokens on Binance Smart Chain. Currently MetaMask pulls the suggested Gwei cost from Ethereum, and suggests ~300 Gwei, when in fact it will process in mere seconds even with 10 Gwei. Fortunately, the suggested default Gwei is 10 for vault interactions, so this manual adjustment only appears to be needed when sending tokens, but keep an eye on it. Also when you approve contracts it sometimes estimates over $1 but will complete for $0.15, check the transaction on https://bscscan.com to see.

In other news, CoinMarketCap has already been updated to reflect our move to Binance Smart Chain!
https://coinmarketcap.com/currencies/cord-finance/
(We have also contacted CoinGecko and will update this article when that listing has been updated.)

The new vaults on Binance Smart Chain are located at https://pool.cord.finance

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Token pairs may differ from those in screenshot

Contract for CORD on Binance Smart Chain
0xa3506A4f978862A296b29816C4e65cf1a6F54AAA
Contract for VACC on Binance Smart Chain
0xb01228C32F85db30b8F9fc59256B40C716b0E891

Finally, for a detailed explanation of the tokenomics of CORD and VACC and the CORD.Finance project as a whole, please visit
https://cord.finance
as well as the other myriad articles contained in this Medium channel https://cordfinance.medium.com/

Stay tuned fellow CORDians, for some big things in 2021 and beyond, now that we have unshackled ourselves from Ethereum and been reborn on Binance Smart Chain. With transaction fees no longer limiting our potential, the sky is truly the limit, or perhaps more accurate to say, the universe.

- The CORD.Finance Team

CORD.Finance is a decentralized finance project that uses a unique combination of smart contract technology plus real world networking to provide income streams

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