BNB Chain Fusion Plans Unification of BEP-2 and BEP-20 Chains by 2024

Developers within Binance's BNB Chain have introduced the concept of BNB Chain Fusion, intending to merge the existing BNB Beacon Chain (BEP-2) and BNB Smart Chain (BEP-20) into a unified structure by April 2024.

Objective and Benefits:

The merger seeks to simplify operations and bolster security by eliminating complexities inherent in maintaining two separate chains, potentially enhancing the overall system's robustness.

Asset Transition for Users:

Holders of BEP-2 and BEP-8 tokens are required to transition their assets to the BEP-20 chain to ensure preservation, maintaining a one-to-one correspondence. Multiple platforms, such as centralized and decentralized exchanges, along with the BNB Chain Wallet and other self-custody wallets, will support this transfer process.

Deadline and Post-Deadline Procedures:

The merger initiative, known as BNB Chain Fusion, aims for an April 2024 deadline for users to transition their assets to the new structure. Those unable to meet this deadline will have a recovery option, as outlined in a Cointelegraph report. However, late transfers may incur a recovery waiting period of up to seven days to reclaim BEP-2 assets post-fusion.

Recovery Procedure and Limitations:

The recovery feature for late transfers will lack a user interface and operate solely through a command-line prompt. It is essential to note that BEP-2 tokens lacking cross-chain support will become unrecoverable after the fusion process.

While the BNB Chain Fusion offers a promising consolidation of chains, users should remain vigilant regarding the asset transition process to avoid potential complexities post-merger.