Brief information about TRC20
TRC20 is a token standard used for token issuance on the Tron network. Tron’s TVM (Tron Virtual Machine) is EVM-compatible. However, there are specific differences in the TVM characteristics, particularly in its network fee structure. Unlike the EVM, TVM uses energy instead of gas, with TRX acting as the ecosystem gas token.
Brief information about BEP20
The BEP20 token standard is compatible with Ethereum Virtual Machine (or EVM) and extends the ERC20 token standard. It is also compatible with the Binance Chain’s BEP2 standard, as BEP20 was designed as an extension of the Binance Chain. Due to its architecture, a heavy emphasis is placed on BNB Chain’s cross-chain compatibility.
Why do you need a bridge to convert BEP20 tokens to ERC20 tokens?
With the help of cross-chain bridges, users may transfer their cryptocurrency assets to a new blockchain and participate in the newly launched DeFi protocols or diversify the risks of keeping all of the assets on a single network. Allbridge Core is a platform that facilitates the swap of stablecoins and enables the seamless flow of liquidity.
How to swap TRC20 to BEP20?
Allbridge Core offers a convenient platform enabling TRC20 to BEP20 bridge. To initiate the cross-chain swap, one has to first select networks and tokens in the bridge interface. After indicating the transfer amount and the destination address, press “Send” to begin the transaction.
More details about the transaction flow can be found in the dedicated guide section. It provides an extensive tutorial both in written and video formats.
How does Allbridge Core work?
Allbridge Core offers a native stablecoin bridging experience, enabling seamless cross-chain swaps between EVM and non-EVM blockchains. Let us go through the transfers between Tron and BNB Chain.
After the transaction is confirmed, the crypto assets are exchanged on the Tron to the virtual value transfer tokens. These tokens pass the information to BNB Chain via Allbridge messaging.
The smart contract on the Tron blockchain is triggered as soon as the message arrives, and the virtual tokens are swapped to the native TRC20 USDT. You may find more details about the transaction flow in Allbridge Core GitBook.
The benefits of using Allbridge Core for bridging TRC20 tokens to BEP20
Allbridge Core offers a simple and intuitive interface to facilitate cross-chain stablecoin transfers in one click. In the future, the bridge functionality will include the option to convert some part of the transferred amount into a gas token, thus further reducing the barriers to entry into the new chain.
After the beta period is concluded, the ability to upgrade the smart contracts will be disabled, contributing to the bridge security and preventing the potential bad actors from meddling with user transfers. The absence of admin access would ensure that the new bridge is non-custodial, which is in great demand in the current market.
Lastly, the built-in liquidity rebalancing function ensures that the bridged assets are swapped back to the chain of origin to rebalance the liquidity pools. It is achieved by decreasing the price of the native token in every exchange between the virtual transfer token and a native one.
What is the difference between TRC20 and BEP20?
TRC20 and ETH20 are two separate standards used for the technical specification of tokens on the Tron and BNB Chain. BNB Chain transactions utilize BNB to execute the transaction. Unlike BNB Chain, Tron Virtual Machine uses energy instead of gas, with TRX acting as the ecosystem gas token.
Yes, it is possible to swap between TRC20 and BEP20 tokens with Allbridge Core. By accessing this link, you can initiate a cross-chain swap from USDT TRC20 to BEP20.
In addition to Tron and BNB Chain, Allbridge Core also features the native stablecoin swaps between Ethereum and Solana.