Migrate ETH BSL to Hedera

ETH market cap is around 300bi. So you expect it to be multi trillion? That is hard to believe. That is like Solano folks thinking they will 10x - when the market cap is already so high. That is basic math - the higher it is that much harder to do that. Hedera is a little over 2 bi - a 10x is quite easy at that with what they got going on.


I vote no. I strongly suggest we keep both eth and HBAR separate for reasons discussed many times.

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I wonder if people are reading this vs. just coming in here and saying No. Haha - so hard for people to critically think or to take themselves out of a person that understands crypto and multi-chains and put them in others shoes The team maintaining it and everyday folks that are new to this realm etc. Oh well. Cheers!


its not irrelevant. why is ethereum half the price of the hedera bsl?

We don’t want to lose exposure to a big market.
There’s a lot of deep pockets/ wallets on the ERC chain who doesn’t care about paying $200 in taxes because they buy a big chunk.

Why are you on the fence? What is you opinion on it?

I have a few questions:

  1. what is the BankSocial business reason for having both chains? Is the eth contract really providing liquidity? The eth universe may be large but if the hedera contract is providing more liquidity it’s a moot point.
  2. are there business efficiencies for operating 100% on hedera rather than the two networks.
  3. does the eth contract, or a full hedera contract, help BankSocial accomplish it’s immediate goals in 24 and 25
  4. gas in eth sucks, wouldn’t hedera be better for everyone?

It’s probably worth tracking the hedera liquidity for the next 30 days compared to eth liquidity

Typing my thoughts and opinions

I do have a couple things that come to mind. Having one token in a wallet I dont use is a concern for me. When I can imagine the focus is on Hedera BSL.

Don’t think ease of use is an actual thing therefore they sit and do nothing in ERC. (Could this get better in the unforeseeable future?) The tricks, dex, uniswap?

Can I even convert my bsl erc-20 on saucerswap to BSLHbar?

No such thing as a dumb question.

I’m know expert but definitely not a novice anymore. Seems like the noobs will go Hedera route as we see on the social platforms ease of use and liquity is huge. Speed and cost as well. It is actually a noticeable thing the community is growing.

Love that for us. Lol

Because I’m in ERC-20. No 6.5% staking?No putting into the actual loan programs? Transfer to Banksocial wallet? I don’t have a clue and my guess is because nobody else does either.

How do I get my BSLETH to work for me and the people who want a loan?

If any of this makes sense. I personally want my ERC-20 BSL tokens on Hedera. The community, the security, and everything I research.

I would vote for all on Hedera. Or I would want to atleast get mine 1:1 transfered to Hedera. I would do it today if I was walked thru it or if even possible.

IMO joining Hbar was absolutely one of the smartest choices thus far.

We are Banksocial!!


I’m all for moving everything to Hedera EVENTUALLY. BSL has always wanted to reach as many people as possible. That was why the token ended up on two chains. I do think we need see this playout through 1 more bullrun then migrate it afterwards.

Yes let’s migrate it to Hedera. The tech is way better, it has the most transactions than any other block chain, and the most backing by enterprises.


It’s gonna be a no from me. I like the expossure of eth side, people are more familiarized with eth, and I think that when staking is live, people gonna buy the lowest price and they’ll eventually even out. I know that Hedera has superior technology, but the 90% of the people don’t , and also don’t care, and will buy the lowest price. And personally, price is irrelevant. don’t think that eth is “dragging us down”.

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I do not believe we should migrate at this time. I don’t think we need to rush this. I expected the hbar bsl to do this. The sides will even out. Things are going exactly as planned. We voted on one chain to move. Part of that plan I believe was to see how things would transition and get the ecosystem up and running on the hedera side. We are at day 2. I know there are a lot of new members/new voters. I would like to say to the new people as well as remind the existing we are doing exactly what we said we would do. Once everything is up and running smoothly we can entertain the idea of moving all tokens to one chain. I don’t feel like there is a need to rush. My other opinions on this are like others all ready have said: I love all the money on the ETH side and that is great exposure, however, the Hbar chain itself has much more room to grow. I will be very interested in John and teams opinion on this. After our recent migration, team may need a weeks vacation :joy:
For now we are Right on schedule! Now if you’ll excuse me, I have to go buy some ETH BSL! :running_man:

Blockquote :sweat_smile:


I can agree with that statement. Its nice to see it come alive. My tokens are not going anywhere. So I can agree to have the long term patience. Keep up the good work and
focus on our successes. Banksocial should have some capital now. :smirk:

I more question that came to mind.

What if Ethereum gets legal clarity and gets labeled as a security, Would that do anything to BSL ERC-20? If it doesn’t then we can leave it rest for now. Absolutely.

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@PresidentHODL - Can we revisit bridging as an option? If we can do this securely then I say this would ideal to satisfy both the people that want to migrate and the people that don’t.


Keep on eth. Eth is important globally. It only makes sense. Half of crypto is built on eth.

@PresidentHODL I agree with @PatriciaB if the community is divided why can’t we just set a bridge via hashport at a 1:1 ratio.


Banksocial runs on hedera


I realistically see two options:

  1. Create a bridge for ETH users to swap their tokens over to Hedera allowing the Banksocial presence to remain on the ETH blockchain. It’s a huge community and I can see why some want this to remain.


  1. Migrate to the Hedera ecosystem and only have one token allowing previous holders of ETH to make the switch until it’s deprecated.

Personally, I would like to see only one token and make it as simple as possible for new users coming onboard. One token, one ecosystem, all under Hedera. I understand we want inclusion and growth with association to ETH, but Banksocial is on Hedera now. I don’t think the association to ETH will be required as more and more develops with the platform. That growth will come. Let the tech speak for itself. I vote yes to migration. Anyone who believes in the project will come for the ride.


I think eth is a great chain to be on. I do not think everything should be moved right away to hedera. Short term that will help the price/LP/SLP as hedera is great. My main concern is that hedera is not broadly adopted yet. Taking the token off Ethereum, which is widely adopted will actually hurt BSL in the long term to onboard new users of the platform. An solid bridge would be way more helpful in the meantime. When hedera gets more widely adopted I am definitely all ears, or when some advantages can be presented that you can not deny. As of now i have not been convinced yet.

I disagree. This will dilute the supply which obviously I am against