The Linkswap team is excited to announce that we are launching the first RenVM bridge for DigiByte ($DGB)!
Over the past few weeks, we’ve been working with both projects to bring $renDGB to fruition with a great UI, and now the public can officially mint and burn $DGB ←→ $renDGB via Linkswap’s integrated renDGB bridge!
DigiByte (DGB) is an open-source blockchain created in January 2014 and after more than 7 years of forward thinking development, DigiByte has become one of the safest, fastest, longest and most decentralized UTXO blockchain in existence.
Read on to learn more about how to use the new renDGB bridge on Linkswap below!
Using the renDGB Bridge
1. Go to the Linkswap Bridges page and select the renDGB bridge
Before this step please make sure you have connected your Ethereum wallet client to Linkswap. If you don’t have an Ethereum wallet yet, follow this tutorial video for Metamask.
2. Select and click “Mint”
3. Send your DGB to the Gateway address shown (please note bridge uses a Segwit DGB-Address format starting with S instead of D)
4. Wait for 50 confirmations
5. Click ‘Submit to Ethereum’ and confirm the transaction in your wallet
6. renDGB will appear in your connected Ethereum client wallet
(To go from renDGB back to DGB, click on ‘Burn” and follow the UI instructions. Note that Burning costs Ether, so make sure you got 0.02-0.04 Ether on your Ethereum wallet.)
Become a renDGB liquidity provider
Now what to do with your freshly minted renDGB?
You can provide liquidity to the renDGB/ETH pair on Linkswap to earn fees from trading volume.
Follow these steps to add liquidity:
1. Go to the Linkswap Add Liquidity page and click on “Add Liquidity”
2. Select renDGB and ETH
3. Enter the amount per asset you want to add
4. Click on “Supply”, then review the action and click “Confirm Supply”
5. Confirm the transaction in your Ethereum wallet client
6. You are now a renDGB liquidity privider earning fees from Linkswap volume!
After becoming a liquidity provider, you can stake your LSLP’s in the reward pool to farm $25,000 in renDGB (~420,000 renDGB), for a period of one week! This reward pool will launch on Friday March 19th at 11.00 EST.
Follow these steps to stake your LSLP’s for rewards:
1. Go to the LP rewards staking page on Linkswap
2. Select the renDGB/ETH pool
3. Click “Stake” and confirm the transaction in your Ethereum client wallet
4. Start earning LP Rewards!
(note: the whole process back and forth can cost up to $150-$300+ in Ether at current prices, so make sure you got enough spare in your wallet before starting)
With the new renDGB bridge, trading pair, and reward pool on Linkswap we warmly welcome the DGB community to DeFi! We look forward to continued collaboration with our partners Ren protocol to increase Linkswap’s cross-chain compatibility.
Oh, and for our Ren theme-lovers, we have updated the Ren theme to v2!
DigiByte is more than a faster digital currency. It is an innovative blockchain that can be used for digital assets, smart contracts, decentralized applications and secure authentication.
Website | Foundation | DGBAT | Wiki | Docs | Telegram | Twitter | Reddit | GitHub
LINKSWAP is a community-governed decentralized exchange (DEX) offering exclusive $LINK pairs, staking revenues from trading volume, and direct fiat-to-crypto purchases
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