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How to Bridge your ALBT to bALBT in preparation for BNB/bALBT Liquidity Mining on Binance Smart Chain

Disclaimer: due to an already existing (small) BNB/bALBT pool on PancakeSwap we had to decide to deploy an ETH/bALBT pool instead. Please read the following instructions carefully in order to make sure you can participate in the pool correctly.

Following the successful and popular launch of our Alliance Block Liquidity Mining Program (v1.0) in November, the addition of the Balancer protocol in our v1.2 version immediately followed by the launch of the brand new AllianceBlock Liquidity Mining Partnership program together with Frontier which includes the first fully audited Multi-Asset Reward Liquidity Mining Partner Program, we are proud to announce that the AllianceBlock Liquidity Mining Program will soon be available on Binance Smart Chain (BSC) as well, using the PancakeSwap Protocol (make sure when visiting their website that you are visting https://pancakeswap.finance/, other URLs are likely scams).

Prerequisites

Like with our Ethereum based LM program, you’ll need to have MetaMask installed in a WEB3 compatible browser (e.g. Chrome, Brave or FireFox). Besides that you will need to obtain BNB and bridge ALBT to bALBT in order to provide liquidity (BNB is also used to pay gas fees on the Binance Smart Chain network).

Configuring MetaMask to work on Binance Smart Chain Mainnet

Open MetaMask, click the network on top (most likely it will say Ethereum Mainnet):

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Obtaining BEP20 BNB

There are many ways to obtain BNB, and also many ways to get your BNB on Binance Smart Chain in BEP20. Here we will describe a common, easy to use way, assuming you have obtained BNB on the Binance Exchange.

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  • In the main menu, go to "Wallet" and then "Overview":
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  • Then select BEP20 / Binance Smart Chain (BSC) as Transfer Network
  • Finally, enter the amount of BNB you want to transfer to your wallet
  • Finish by clicking Submit and follow the required confirmations that Binance will ask you
  • It may take 15–30 minutes sometimes before your tokens will be visible in your wallet

Swap BSC BNB to BEP20 ETH

Due to an already existing (small) BNB/bALBT pool on PancakeSwap we had to decide to deploy an ETH/bALBT pool instead. If you have already obtained BNB in preparation for the BNB/bALBT pool, please use the PancakeSwap UI to swap (some) of your BNB to ETH in order to participate in the correct pool. You can follow the steps listed below in order to swap BNB to ETH.

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  • Make sure your MetaMask is set to the BSC Network
  • Click the Connect Wallet button:
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  • Proceed by clicking the “Select a token” button:
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  • And then click ETH:
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Make sure to not swap all of your BNB, you will need them to pay gas fees on the BNB network
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  • You will now be presented with the following screen:
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Bridge ALBT to bALBT (BEP20) using Burgerswap

The native AllianceBlock Token (ALBT) is an ERC20 token. In order to use the BSC LM Program, you will need to bridge your ALBT tokens first to their BEP20 counterpart (bALBT).

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  • Click on “Choose token”
  • Search for and select “ALBT”
  • Enter the amount of tokens you want to bridge on the right of the selected token
  • Click the “Approve” button
  • MetaMask will pop up, click Confirm
  • Click the “Create crosschain assets” button now
  • MetaMask will pop up again, click Confirm once more
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  • The page will automatically update
  • Scroll down completely to the bottom of the page until “Transit record”:
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  • MetaMask will pop up, click “Confirm”
  • Wait for the transaction to complete
  • Once the transaction is complete, you will not immediately see your tokens in your wallet.
  • On the bottom it says “Copy contract address”, click that (or copy this: 0x72fAa679E1008Ad8382959FF48E392042A8b06f7).
  • Now open MetaMask and go to Assets:
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About AllianceBlock

AllianceBlock is building the first globally compliant decentralized capital market. The AllianceBlock Protocol is a decentralized, blockchain-agnostic layer 2 that automates the process of converting any digital or crypto asset into a bankable product.

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Bridging Traditional Finance and Decentralized Finance

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