Everyone knows that on the BNBChain network there is a BEP20 token of the EGLD currency, but oddly enough, there is not much support for this token!
An example of the lack of support for this token is that on xBridge, even though the bridge supports BNBChain, it does not support the EGLD BEP20 token.
The EGLD BEP20 token on the BNBChain network can be a valuable tool for increasing the liquidity of stablecoins on MultiversX. By listing it on the Venus protocol, users can use it as collateral, thus obtaining stablecoins with lower interest rates. Subsequently, by sending these stablecoins to Hatom, it would be possible to mitigate the shortage of stablecoins in the MultiversX ecosystem by offering an additional option to use EGLD in DeFi.
The EGLD version on Binance Chain is created (and backed) by Binance themselves, therefore I don’t know how this can be added to the MultiversX Bridge…
MultiversX has a good relationship with the Binance team, I don’t think it would be very difficult for something like this to happen and it would put the EGLD coin in a better scenario for its use in DeFi.
What should be done in my opinion would be the following…
1° EGLD BEP20 Support on MultiversX Bridge.
2° Create two V3 pools on PancakeSwap in the pair BNB/EGLD and USDC/EGLD.
3° Lists the EGLD BEP20 coin on the Venus protocol, allowing you to use EGLD more efficiently in DeFi.
I believe these measures would significantly increase the usability of the EGLD coin in DeFi and could even attract more stablecoin liquidity to the MultiversX network!
My friend, I’m not part of the core team, this question you have to ask them and not me, this is just a suggestion of what could be done to improve liquidity access for $EGLD holders, the technical parts so that If this happens, it’s up to them and not me!
