CanWork-March2022-Update

CanWork March 2022 Update

Getting ready for Binance Smart Chain


Welcome to the March 22 update. With the Binance Smart Chain (BSC) deployment of CanWork right around the corner, this update focuses on all things BSC & BEP20.

Development News

We are very close to pushing the CanWork ecosystem across to Binance Smart Chain. This month we achieved a major milestone in having the Hedged Escrow functioning on Binance Smart Chain and interacting with Pancake Swap liquidity pools.

We also completed:

  • The payment flow web app user interface,

  • Payment contract interaction for the web app

The Hedged Escrow working on BSC & Pancake Swap Liquidity Pools:


Next month’s focus will be:

  • Upgrading the conract to the latest version of solidity,

  • Testing payments with various BEP20 tokesn across a range of scenarios,

  • Improving the ancillary escrow functions.

BEP20 $CAN now live on Pancake Swap



BEP20 $CAN can now be used on Pancake Swap. Platform users and token holders can now use Pancake Swap to:

  • Buy BEP20 $CAN,

  • Sell BEP20 $CAN, and

  • Provide BEP20 $CAN liquidity and earn fees.

In future iterations of the hedged escrow, the liquidity pools on Pancake Swap will allow funds to be swapped pre and post payment to offer plenty of payment options for clients and providers alike.

If you’d like to learn more about the Pancake Swap integration and start trying it out for yourself head on over to this guide prepared by the team:

Note: You will need BEP20 $CAN and Trust Wallet installed on a smart phone.

Using BEP20 $CAN on Pancake Swap

Pancake Swap will also provide much needed liquidity to our token holders and future platform users following the reduced usage of the original Binance Chain DEX. Note: Any token holder can create any liquidity pair on Pancake Swap.

Getting ready for BSC with BEP20 $CAN




As many in the community know, the Binance Ecosystem has matured significantly over the past few years. One large development has been the deployment and growth of Binance Smart Chain.

Compared to Ethereum, Binance Smart Chain is roughly 1000x cheaper, 10x faster and in late 2021 had more transactions on chain than the chains of Bitcoin and Etherum combined:

https://cryptoslate.com/binance-smart-chain-sets-record-after-14-7-million-daily-transactions-in-one-day/

BSC will provide the following benefits to our users and token holders:

  • Ability to further decentralise the Hedged Escrow using the smart contract functionality of BSC
  • Allow our clients to pay freelancers in an increasing range of cryptocurrencies
  • Give freelancers the choice to accept payments in stablecoins such as $BUSD
  • Revised tokenomics & use-case for the $CAN token
  • Increase liquidity & staking options for the $CAN token (eg. PancakeSwap)

To facilitate all of this functionality a different token standard was needed; BEP20. This means that as the CanWork ecosystem shifts to BSC our token holders will also need to shift across from BEP2 to BEP20 $CAN. Thankfully, this is simple.

Before we continue, if you are still holding ERC20 $CAN you need to swap it across ASAP. This guide shows you how:

Swap ERC20 $CAN to BEP2 $CAN

As discussed, swapping from BEP2 to BEP20 tokens is thankfully very easy particularly for our users operating the recommended Trust mobile wallet on their smartphone. The team has prepared a step by step guide that will convert your tokens in no time:

Swap BEP2 $CAN to BEP20 $CAN

Anyone unsure of this or experiencing issues is welcome to contact the team in the community telegram channel via the button below.



If you want more information or want to see how you can get involved, join the community Telegram channel.



CanWork: https://www.canwork.io/
Twitter: https://twitter.com/CanWork_
Facebook: https://www.facebook.com/CanWorkPlatform

Chris McLoughlin

Author

2022-03-04

Date posted

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 Binance Smart Chain   CanYa   CanWork   BEP20   Pancake Swap