wSIGNA: Bridge to the Binance Smart Chain
Signa on Binance Smart Chain
Binance Smart Chain (BSC) is a blockchain network for running smart contract-based applications, NFTs, and digital assets. Like Signum’s own smart contract platform, developers can deploy native smart contracts on BSC at significantly lower fees than other platforms like Ethereum.
Cross Chain liquidity, pioneered by Signum with the world’s first atomic cross-chain transfer, is a pillar of decentralized finance. Integrating Signum with other networks such as Binance Smart Chain is significant for increasing Signum’s utility and preparing for other assets to find a home on the Signum Network.
wSIGNA makes USDT and WBNB trading possible on Pancake Swap
Asset wrapping
Asset wrapping allows an asset from one network to exist on and interact with another. Using BTDEX and smart contracts, SIGNA can be converted to wSigna(BEP-20). wSigna is the 1:1 representation of Signa on BSC. Signa wrapped in wSigna remains locked in a smart contract on the Signum Network and can be converted back at any time.
Utility
Cross-chain integration of Signa makes it available on BSC on the same basis as any BSC BEP-20 token. For example, you can stake it on Pancakeswap, trade it, or even add it to liquidity pools to earn pool fees.
With wSIGNA BEP-20 tokens, you can participate in a growing number of applications that use Binance Smart Chain. For example, it can be easily exchanged for BNB when needed.
BTDEX is the primary tool for wrapping Signa onto the Binance Smart Chain as wSigna.
How to wrap Signa to BSC or unwrap wSigna to the Signum Network using BTDEX
Configure a BSC-compatible wallet.
If you do not already have a wallet that supports the Binance Smart Chain, install Binance Wallet, Trust Wallet, Meta Mask, or another compatible browser extension. Binance Wallet is used in this example.
Binance Wallet is a web extension found in the Google Chrome Store. Start with https://www.binance.com/en/wallet-direct, click on ‘install extension wallet’, ‘add to Chrome’, and then ‘add extension’.
- Open and choose ‘Use existing wallet’ or “Create wallet”. Follow the prompts to create a new wallet or import an existing wallet.
- Add the wSigna token as an asset by clicking the ‘+’ under the Asset tab, ‘Custom Asset’ in the upper right-hand corner, and entering the following token address in the Contract Address field: 0x7b0e7e40ee4672599f7095d1ddd730b0805195ba. When the wSigna token appears, click ‘Add Asset’.
Install the BTDEX software
BTDEX contains the functionality for wrapping and unwrapping Signa. It can also serve as your primary wallet for Signa, but not all wallet functions are included. Other wallet functions are available in Signum-Node or Phoenix.
Open BTDEX and follow the prompts to create a new Signum account or import an existing account.
- On the “Contracts” tab, select the wSigna market.
- On the “Accounts” tab, select the wSigna market, enter the wSigna address in the wSigna address field, and click “OK”. The address can be found in your Binance wallet by clicking on the wSigna token (under Assets) and “Receive”. Be sure that ‘Binance Smart Chain Network’ is selected at the top. Binance Smart Chain Network and Binance Network are not the same.
BTDEX Procedures
The easiest and fastest way to wrap Signa or unwrap wSigna is by accepting contracts that already exist on the order book. If the quantities offered do not work for you, you can create your own contract which will be accepted by another party or the Signum Network’s swapping service within 24 hours.
Existing Contracts
To wrap Signa, select a contract from the green side of the order book. Accept the terms and conditions, enter your PIN, and click ‘OK’. This locks your payment and security deposit in a smart contract pending receipt of the wSigna. Accepted contracts must complete within 48 hours. The other party has the first 24 hours to transfer the correct amount of wSigna. If they do not, you can claim their security deposit. When the wSigna is received, you have the remainder of the 48-hours to confirm receipt in BTDEX so that payment can be released to the other party and your security deposit can be returned. If you do not make the required confirmation and the other party has to open a claim for their payment to be released, they will also receive your security deposit.
To unwrap wSigna, select a contract from the red side of the order book. Accept the terms and conditions, enter your PIN, and click ‘OK’. This locks your security deposit in a smart contract. Accepted contracts must complete within 48 hours. You will have 2 hours to transfer the correct amount of wSigna. If you do not, you will lose your security deposit. When the other party confirms receipt, the payment held in the smart contract and your security deposit will be released. If the other party does not confirm receipt of the wSigna within the 48-hours, open a claim to have the payment held in the smart contract released. Your security deposit will be returned, and you will also receive the other party’s security deposit.
New Contracts
To wrap Signa, click on “Make an Offer” on the red side of the order book, enter the price of ‘1’, the desired quantity, and set the security deposit slider to 1%. Accept the terms and conditions, enter your PIN, and click “OK”. This locks your payment and security deposit in a smart contract pending contract acceptance and receipt of the wSigna. Accepted contracts must complete within 48 hours. After accepting your contract, the other party has the first 24 hours to transfer the wSigna. If they do not, you can claim their security deposit. When the wSigna is received, you have the remainder of the 48-hours to confirm receipt in BTDEX so your security deposit can be released, and payment can be released to the other party. If they have to open a claim for the payment to be released, they will receive your security deposit.
To unwrap wSigna, click on “Make an Offer” on the green side of the order book, enter the price of ‘1’, the desired quantity, and set the security deposit slider to 1%. Accept the terms and conditions, enter your PIN, and click “OK”. This locks your security deposit in a smart contract. Accepted contracts must complete within 48 hours. You will have the first 24 hours to transfer the wSigna. If you do not, the other party can claim your security deposit. When the other party receives the wSigna, they have the remainder of the 48-hours to confirm receipt in BTDEX so their security deposit and your payment can be released. If you have to open a claim for the payment to be released, you will also receive their security deposit.
Terms and Conditions
Please note: This guide is currently under review, please proceed carefully and defer to the official terms and conditions in BTDEX which govern the process. Review the terms and conditions provided each time you create or accept a contract. These contain details specific to your transaction and must be followed exactly. In the event of a dispute, appeals to any provision in this tutorial that may be in error will not be considered. Always follow the terms and conditions provided in BTDEX when you make a transaction.