👉What is Bling Finance?
-Bling Finance is a DeFi protocol including the following components:
-Bling Finance token ($BLING), ERC20 smart contract
BlingSwap, a decentralized exchange with AMM
-MoneyTree, a staking and yield farming dapp.
👉What Problem Does Bling Finance Solve?
-One of the main issues with swap trading on AMM’s are the high ETH gas fees involved. With the exponential growth we’ve seen in the DeFi sector, ETH gas fees have also increased. The complexity of AMM exchanges requires many transactions to do multiple hops through smart contracts and can sometimes create situations where the costs of executing the trade are unprofitable.
Here is one such example posted on twitter. https://twitter.com/13Prince31/status/1293759802196275200
-Our proposal, if funding is successful, is to bridge or migrate BlingSwap and other DeFi protocols to the FantasyGold Core blockchain. Giving users and traders the choice to either transact on the Ethereum network or the FGC blockchain where fees will be significantly lower compared to ETH.
-Virtually all DeFi protocol smart contracts are ERC20 and therefore can already be deployed on the FGC chain. We will aim to create a cross-chain bridge allowing tokens on FGC to be swapped for tokens on ETH and vice versa using BlingSwap.