2022-12-21 20:40:01
Aryacoin cross chain bridge is going to be active again soon
here is updated announcements about pending transactions details:
Total AYA held in Mainnet for Bridge (https://ayablockexplorer.com/address/AaAoqjTzCVYoVyLdqNG4UXLokpCTd9otHu): 69,749,367.37926966 AYA
Total AYA supply in BSC (https://www.bscscan.com/token/0x86e5775f5c46304939c40959812bc220dd1c0333#balances): 71,001,906.708899 AYA
Total AYA pending to be burned on BSC(this aya is not burned due to the bridge being turned off, this is not considered active as it only can be burned, held in the bridge controller wallet waiting to be burned https://www.bscscan.com/token/0x86e5775f5c46304939c40959812bc220dd1c0333?a=0xbd83f5b0b80b9bacf72cda06ffcf8da54ca46159): 2,821,543 AYA
Total Excess AYA on Mainnet Vault: 69,749,367.37926966 - (71,001,906.708899 - 2,821,543) = 1569003.67037 AYA
Thus AYA Mainnet Vault holds more funds than on BSC so that AYA on BSC never De-Pegs.
The Excess AYA on Mainnet comes from the Team's holding, some time before the bridge was turned off (and burns were not being processed), the team used their own funds to pay BSC to AYA bridges, rather than taking from the Vault, thus making the vault have more funds than required.
The funds in the Bridge Controller will be burned as soon as the bridge is back up again, the bridge controller's primary role is to receive and mint tokens, all the received tokens are ideally burned instantly or are burned periodically if burns do not process normally.
#AYA
#Aryacoin
#MrDG
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