Introducing BRC20-Pegged USDT/USDC Tokens on Bitgert Chain

Stable coins are critical for the smooth running of any blockchain ecosystem. So Bitgert launching a stable crypto bridge on the Bitgert blockchain gives Brise users better flexibility in trading on the Brise chain. 

The bridge enables users to easily swap stable currencies from our supported networks to the Bitgert Chain in a go. The USDT and USDC stable coins will be pegged to the BRC20 token.

How It Works

The Bitgert BRC20-pegged stable coin is backed by the native coin or the underlying coin, which in this case is the BRC20. The pegged tokens are backed by their native coins, which are locked in the reserve pool address. The reserve addresses for these coins are shared publicly for transparency purposes. Therefore, anyone can access the reserve addresses for all the BRC20-pegged stable coins.

The pegged tokens are always backed 1:1 by BRC20. So the value of the USDT BRC20 is pegged to the Bep20 USDT token as 1:1 collateral. So, the value of USDT BEP20 will always remain the same as the value of the BRC20 token. So the pegged tokens are similar to a stable coin on the Bitgert chain.

Note that the sum of the funds in the reserve wallets remains bigger than the total supply of the pegged stable cryptos to ensure 100% backing. So the liquidity issue shall never be a concern on the Bitgert chain.

Benefits of BRC20-Pegged Tokens

The major benefit of the pegged tokens is making tokens not native to the Bitgert blockchain accessible to Brise chain users. In this case, USDT and USDC are major stablecoins in the crypto industry. Bringing them to the Bitgert chain by pegging with the native BRC20 tokens enable users to enjoy the benefits of stablecoins. Most important is swapping their tokens to stablecoins to avoid volatility-driven losses.

The Bitgert stable bridge enables users to swap USDT and USDC from the networks supported by the Bitgert chain to the BRISE chain. At the moment, BEP20, ERC20 are tokens supported by the Brise chain. The pegged tokens are also going to increase the selection of the tokens on the Bitgert chain, which in return increases the Brise chain utility. 

The bridge increases transaction volume on the chain and liquidity. The utility of the Bitgert chain has also increased as users have more options to select. So, this bridge is an essential tool for a better user experience while trading on the Bitgert chain.

Available Pegged-Tokens List

USDT Pegged-Token Details

Reserve Pool Wallet  (ERC20/BEP20) : 0x1FCE71254df522a7AC6Ba3043777B2ce69478Df4

Reserve Pool Bridge Addresses:

0x0C9328d0441362EF9Ad5c67705F2Ff51C0E9a2Bb – BEP20

0x5490e0E86555c500699A9c466c8d957BdB4907F8 – ERC20

Bitgert-Pegged USDT Contract Address: 0xDe14b85cf78F2ADd2E867FEE40575437D5f10c06


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USDC Pegged-Token Details

Reserve Pool Wallet  (ERC20/BEP20) : 0x1FCE71254df522a7AC6Ba3043777B2ce69478Df4

Reserve Pool Bridge Addresses:

0x6d9c787e3FC3752934eAfbB4463d0DCb7B517d6d –  BEP20
 
0x86015115b1Fa388339FE4e287A6775F53836638c – ERC20
 
Bitgert-Pegged USDC Contract Address: 0xcf2DF9377A4e3C10e9EA29fDB8879d74C27FCDE7

 

Note: You can verify the total supply with above reserve pool available balance.

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