Search…
FCL: ERC20 vs Substrate
Currently, there are two FCL tokens: 1) an ERC20 token listed and traded on exchanges, and 2) Substrate-FCL issued on the Fractal mainnet. Why have two? The ERC20-based token is easily tradable and can be sent to ETH-based wallets such as MetaMask. Substrate-based FCL tokens are a natural consequence of the Fractal mainnet’s implementation using Substrate on the Polkadot blockchain. A side effect of this implementation is that FCL cross-chain trades and transfers are less than straightforward.
We are aware of how important it is to the community to be able to withdraw FCL tokens. For that reason, providing a FCL-ETH bridge and payment functionality for FCL tokens have always been critical priorities for us. We cannot emphasize enough how grateful we are for your patience in this respect. Nevertheless, focusing on completing the bridge at present would derail us from our core goal of becoming the backbone of the new data economy. Currently, the critical priority is demonstrating how the data exchange we are creating will function in the real world. That is why we need to provide users with support for seamless interaction with other projects in the crypto space. Although providing the first real Web3 data exchange has always been our primary focus, achieving this goal requires tough prioritization and difficult decisions, such as delaying, for now, the release of the bridge.
Copy link