Printer Financial — FTM-BSC Bridge opening March 12, AVAX Launch March 14!
The Printer Financial community has spoken, and as a result of the near-unanimous Snapshot vote results, we have two significant launches coming very soon. Here we provide details on (1) the FTM-BSC bridge opening and (2) our expansion to the Avalanche (AVAX) blockchain.
(1) The FTM-BSC bridge will be opening ahead of schedule on March 12 at 23:00 UTC. Starting at that time, $PAPER can be freely transferred between the chains. As a quick reminder, the bridge will burn the $PAPER tokens from the origination chain and then mint the exact same number of $PAPER tokens on the destination chain. The only fees associated with the bridge are the standard gas fees from the chain of origin. (Yes you read that correctly: ZERO bridging fees!) The transfer will be instantaneous, limited only by the speed of the blockchain transaction confirmation. You can access the bridge at: printer.financial/bridge
Currently, $PAPER on BSC is priced higher than $PAPER on FTM and we expect many $PAPER hodlers to use the bridge to take advantage of arbitrage opportunities. As an example, one could purchase $PAPER from the lower-priced chain, bridge to the higher-priced chain, and sell for an immediate profit. We strongly encourage everyone to do-your-own-research (DYOR) and start slow to ensure you completely understand the nuances and risks associated with arbitrage. One important factor to consider: the liquidity on both FTM and BSC is lower than many pools you may be accustomed to, which could lead to high price volatility as the price and supply of $PAPER equilibrates between the chains. We’ve been saying this from the beginning, but it bears repeating: The last thing we want is for anyone to get rekt!
(2) We will expand to the Avalanche (AVAX) blockchain, with genesis pools launching March 14 at 14:00 UTC. Here are a few details to help clarify some FAQs:
- The genesis pools will last for 72 hours and will allow you to stake a variety of tokens from AVAX projects to earn $PAPER. The specific tokens will be announced ~12–24 hours prior to launch.
- A total of 10000 $PAPER tokens will be distributed during the genesis pool period. There will be no deposit fees for staking in the genesis pools.
- The $PAPER-$AVAX, $INK-$AVAX, and $PAPER-$INK liquidity pools, as well as the single stake $PAPER pool will open upon launch of the genesis pools, allowing everyone an equal chance of contributing and earning early $INK rewards.
- A difference from previous Printer Financial genesis pools is that we will open the bridge to and from AVAX at the launch of the genesis pools. This allows any $PAPER hodlers to bridge over their $PAPER from FTM and/or BSC and stake it in the genesis pools, or take advantage of early arbitrage opportunities! As mentioned previously, please DYOR to understand the nuances and risks associated with arbitrage and swapping from low-liquidity LPs.
- You can access the AVAX genesis pools at: https://avax.printer.financial/pools
Whats Next? We plan to launch on Cronos (CRO) by the end of Q1, with much more to come in Q2! Check out our Q1 2022 roadmap at the top of this article for a summary of all we’ve accomplished, and a preview of what we have lined up for Q2 and beyond.
We are grateful for the engagement of our amazing Discord and Telegram communities! We look forward to welcoming new members as we realize our goal of becoming Your Bridge to the DeFi World!
Quick links:
Official Discord
Official Telegram
