ULAND — Moving to Binance Smart Chain
Hi fellow Metaversians, it’s bitsNbites here from ULAND. We have a huge announcement to make, but you already know that if you are reading this 🤣We have made the important decision on moving from the Ethereum Network to Binance Smart Chain (BSC).
As you can imagine this wasn’t an easy decision, especially a few days out from Pre-sale. But ever since the inception of ULAND we wanted to create a virtual space that was for the User. Sure we wanted to create a Metaverse with NFT, DeFi and gamification elements to it, but none of it mattered if the end User didn’t have a great experience. Whether that be the user-friendliness of our platform, the ease of earning and trading or engaging with our platform. We wanted to create something that was inclusive of everyone, from all walks of life, technology minded or not. If the average person could have a great experience in the Crypto Space then we have another convert, which is for the betterment of everyone in the Crypto World.
You might be thinking: “Yeh, yeh Bitsy that just sounds like any old sales pitch.” I would respond with tongue and cheek: “Please allow me to disabuse you of such notions by telling you that we aren’t charging any developers fees? That’s right, over 90% of our earnings will go into Liquidity. Don’t believe me, read our whitepaper😎
The main reason for our move is because of the rise in Gas Fees. When DeFi coins soared in 2021, Ethereum transactions fees hit record highs. This became a bottleneck for DeFi growth and discouraged mass participation. Due to the high transaction volume on the Ethereum Network, GAS Fee’s unfortunately fluctuate between a mind-blowingly high $40–200 per transaction! You can wait around and transact when Gas Fees are low, but unless you are a hardcore trader or a Whale, it simply isn’t something the average person has time for or is willing to do. Imagine buying something for $50 then getting hit with a $100 transaction fee! I know I wouldn’t!
After much debate and plenty of eye-rolls 😒 we settled on BSC, who specialise in high volume/micro transactions. In comparison to the Ethereum Network, BSC’s Gas Fee’s are almost 20 times lower. We simply felt that ULAND will have a lot of transaction going in out of our MetaVerse, plus we want to do frequent Airdrops and NFT giveaways, which all incur a transaction fee. To ensure we keep the prices low and guarantee a good user experience, Binance Smart Chain was the way to go for us.
So as I’m writing this our developers are rolling up their sleeves, locking the kids + spouses in the kennel 🤣 and getting to work on the migration to get it ready for our Pre-sale on the 13th of November 21:00 UTC.
Join the conversation in our Discord: https://discord.gg/YGc5tj4Nw3
Follow us on Twitter: https://twitter.com/uland_io
Catch ya later!