The BNB Chain community has recently introduced BEP333: BNB Chain Fusion, a proposal to phase the BNB Beacon Chain out of its ecosystem. This initiative is focused on enhancing the development effectiveness of BSC, strengthening security and increasing the efficiency of asset utilization.
This guide is designed to assist digital asset issuers and holders on the BNB Beacon Chain in transferring the value of their assets, like BEP2 tokens, both before and after the Beacon Chain Fusion. Adhering to these instructions will help users safeguard their digital assets and prevent any potential losses.
The Beacon Chain Fusion initiative is set to be implemented in April 2024. It is crucial that users plan their asset transition to ensure the safety of their funds. For detailed information regarding the timeline and process, refer to the BNB Chain Fusion Roadmap.
Before the Beacon Chain Fusion
For Cryptocurrency Holders
Most valuable BEP2 tokens (such as BNB and BTC) have the flexibility to move between the Beacon Chain and BSC networks without restrictions.
It is strongly recommended that users transfer their assets to the BSC network to guarantee a smooth and loss-free transition, preserving a 1:1 asset ratio. While there are other methods for asset transfer, such as through centralized exchanges or decentralized cross-chain platforms like SafePal, Binance.com and Thorswap, these alternatives are not covered in this tutorial.
Step1: Confirm if the Assets Support Cross-chain Transfers
Open the Beacon Chain blockchain explorer, go to the BEP2 Asset page, and search for the token name to query it.
Using BTC as an example, we see that the token is linked to a BSC Contract address, which allows for cross-chain transfers.
In contrast GTEX-71B lacks a BSC Contract address and thus does not support cross-chain transfers.
Please note: Users holding assets that currently lack cross-chain transfer capabilities are advised to promptly reach out to the respective token owner or issuer. We suggest requesting the token issuer to consult the "For Token Issuer" section of this guide, which provides comprehensive instructions on issuing BEP20 tokens on the BSC network and facilitating cross-chain transfers.
Urgent Reminder
Failure to establish cross-chain functionality for these tokens before the BNB Beacon Chain is deactivated will lead to their irreversible loss, with no chance of recovery. Actively participating in this process is vital to the protection of your assets.
Step 2: Simply Transfer the Assets to the BSC Network
If you only have BNB(BEP2), you can simply use SafePal swap to transfer it to the BSC Network:
If you have multiple BEP2 tokens, BNB Chain Wallet is suggested for this case. Once users import the accounts that have tokens in, they need to switch the network to "BNB Beacon Chain Network":
Then, select the asset to transfer, enter the BSC account and the token amount.
The BSC wallet will receive the token after approximately one minute.
Finally, the related asset will be transferred to BSC after you confirm the transaction.
To ensure the safety of your assets, it is highly recommended that users complete the token transfer as early as possible.
For Users who staked their BNB to the validators
For users who staked their BNB on Beacon chain and wish to continue staking on BSC. They can continue staking with the validators till the validator pool on BSC is ready, then we will update the method for users to migrate over their stake at that time
