Everything That’s Happening in the 8Pay Ecosystem Right Now
Since completing the 8Pay IDO on BSCPad on April 5, there’s been a flurry of developments to report on. We’ve kept the 8Pay community updated every step of the way via our social channels and Medium blog. Nevertheless, we appreciate it’s a lot to keep track of.
In this article, we’ll recap on some of these highlights and discuss where we’re headed next. We’ve achieved a lot over the last week with your support and there’s a lot more to come. Without further ado, let’s dive in.
8PAY Token Audit Is Complete
The 8PAY token contract has been professionally audited by blockchain security expert Jorge Martinez. On April 7, Martinez published his findings in a 10-page report. In testing, he noted that:
- 0 Critical Issue(s) were found.
- 0 Medium Issue(s) were found.
- 0 Low Issue(s) were found.
- 0 Informational Issue(s) were found.
Moreover in his audit, Martinez addressed the allegations made in a Medium article (since deleted) that the 8PAY token contract contains a backdoor. As his report explains, the author was “analyzing a testnet contract that had to be reverse engineered
before a difficult bytecode analysis could be done. The analysis was not done
on the actual contract launched on BSC and Ethereum mainnets.”
He added: “One of the primary concerns raised was that the contracts could be upgraded to introduce malicious functions but the live contracts are not upgradable, and so are not vulnerable to the abuse. In my analysis, I found no issues or security vulnerabilities.”
The full 8PAY token audit can be viewed here.
8PAY Token Liquidity Is Locked
We can confirm that liquidity has been locked for the 8PAY pools operating on PancakeSwap and Uniswap. Proof of locked liquidity on the former DEX can be viewed here, while the Uniswap lock is accessible here. By locking liquidity for six months initially, you can trade 8PAY in confidence with deep liquidity and guaranteed entry and exit at any time. We also deployed anti-bot protection during the PancakeSwap listing to ensure token buyers weren’t disadvantaged.
For the BEP20 and ERC20 versions of the 8PAY token, the largest holders can be viewed on BscScan and Etherscan respectively. As these blockchain explorers show, the top holders of 8PAY correspond with the pooled liquidity that’s locked on PancakeSwap and Uniswap. These addresses do not belong to whales who have the ability to sell their stack at any time: as noted above, these tokens are pooled on the leading BSC and Ethereum DEXs and are fixed in place for the next six months.
Cross-Chain Transfers for the ERC20 and BEP20 Versions of 8PAY Are Live
8Pay has integrated with PolyBridge, the cross-chain bridge for transferring assets between the leading smart contract blockchains. This will enable 8PAY holders to effortlessly move their assets between Binance Smart Chain and Ethereum and to enjoy the benefits that each ecosystem has to offer.
The 8PAY token is issued as a BEP20 on BSC and an ERC20 on Ethereum. Using PolyBridge, anyone can switch between the two chains before trading 8PAY on PancakeSwap and Uniswap, the leading DEXs on each network.
Moving your 8PAY tokens between blockchains using PolyBridge couldn’t be easier:
- Visit PolyBridge and connect using your preferred web wallet (e.g. MetaMask) from the dropdown menu in the top right.
- In the box marked Bridge, click on the Asset field (by default this shows USDT) and select 8PAY from the list of tokens displayed. If you don’t see it, just type 8PAY into the search bar at the top.
- Click on From Network and select either BSC or Ethereum. Select the opposite blockchain in To Network (i.e. Ethereum or BSC).
- Enter the amount of 8PAY tokens you wish to transfer and click Next.
- Confirm the transaction using the pop-up that appears for your web wallet and then sit back. Within a few minutes, your tokens will appear on the other network and will be available to trade, send, and utilize as you see fit.
8Pay Partners With Goswapp to Deliver Mobile Defi Trading
8Pay has partnered with Goswapp, the cross-chain app that brings defi trading to a mobile audience. Goswapp gives users the ability to track the performance of their favorite tokens and manage their trades 24/7. Our partnership with Goswapp will make the 8PAY token tradable on the go, complete with detailed token metrics and price alerts.
Goswapp is configured to work with both Uniswap and Pancake, the leading DEXs on Ethereum and Binance Smart Chain respectively, with the BSC functionality to be added soon. This makes it compatible with the 8PAY token on BSC and with future EVM-based networks where 8Pay gains a presence.
The 8Pay Testnet Is Live on BSC
The 8Pay testnet is now live on Binance Smart Chain, giving the community a chance to try out its core functions, and get a feel for how it all fits together. To experiment with the 8Pay testnet, follow the instructions found in this guide.
After connecting your MetaMask wallet, you’ll be able to try out different payment types, including the creation and management of recurring payments. You can subscribe and unsubscribe from payment plans and experience how 8Pay will work when the platform launches, which will be happening very soon.
Finally, the 8Pay team recently conducted an AMA to discuss project progress and identify key milestones on the roadmap that are currently being tackled. For anyone who missed the AMA, you can catch it here.
As you can see from the Roadmap on the 8Pay website, there’s a lot of cool stuff to come. The 8PAY token has only been trading for a week and already we’ve accomplished so much together. Stay with us as we prepare to launch the 8Pay platform, ushering in a better way to pay.