The BNB chain integration marks a major strategic shift focused on moving the functionality of the Beacon Chain to the BNB Smart Chain (BSC) and eventually retiring the Beacon Chain. This approach aims to simplify the network, improve efficiency, reduce security risks, and ensure that the architecture of the BNB Chain is aligned with current technical needs and future expansion plans. The following discussion outlines the roadmap for the BNB chain integration to ensure a smooth transition for the BNB Chain community:
January 2024 marks the initial phase of preparation by the core team, including notifying BEP2/BEP8 asset issuers, wallets, stake pools and validators, CEXs, and users of upcoming changes such as binding assets, disabling atomic swaps, and withdrawals to BSC.
The first phase will start in April 2024, when validators will migrate to new validators on BSC and delegators will use cross-chain re-delegation to transfer their collateral to BSC. In addition, the staking pool will introduce new staking applications to facilitate this process.
The automatic refund phase will begin in June 2024, when users will be able to view the asset balances that were automatically refunded.
The final sunset will occur in late June 2024 - users will verify after the core team generates and publishes a balance dump.
By July 2024, BNB Chain Fusion will be complete. The core team will provide a token migration application to help users recover funds retained in the archived beacon chain.
The roles and actions of different stakeholders listed, such as BEP2/BEP8 token issuers, atomic swap projects, CEXs, validators, delegators, and wallets, outline the activities required to successfully achieve the migration. These steps are critical to preventing token loss, maintaining revenue streams, and ensuring the continued functionality of the many services provided by BNB Chain.
