BNB Chain announces the launch of BNB Fusion Chain, merging BEP-2, BEP-8 and BEP-20

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The merger, taking place in April 2024, aims to make the blockchain more seamless and secure.

On January 8, the BNB Chain development team officially launched BEP333: BNB Chain Fusion. This is a plan to merge existing double-chain structures. Specifically, BEP333 will merge the BNB Beacon (BEP-2) and BNB Smart Stear (BEP-20) chains.

according to notifyThis merger initiative aims to streamline operations and improve security by eliminating the complexities and vulnerabilities associated with maintaining two separate chains today.

It is worth noting that when the merger occurs, users holding BEP-2 and BEP-8 tokens will have to transfer their assets to the BEP-20 chain to ensure value preservation.

Users have until April 2024 to do this. The transfer process can be facilitated through different platforms, including centralized exchanges or decentralized cross-chain platforms such as Binance and Thorswap and BNB Chain wallets…

For users who have not redeemed their assets within the above period, their assets at that time have not been lost. After the BNB chain integration phase, a fallback solution (BEP299) was introduced, but it is only applicable to assets that support cross-chain. Users still need to save private keys on the beacon chain and use them to sign as proof. The asset recovery process can take up to 7 days.

But unfortunately, this feature will be implemented as a command line interface and there will be no user interface. This is a considerable limitation, so the development team recommends users to complete token transfers as soon as possible.

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