Cardano CEO Charles Hoskinson Teases About the “Side Effects” of SingularityNET’s ERC-20 Converter

SingularityNET AGIX-ETH converter bridge is already giving users a good value for their money less than two days after launch on Cardano mainnet. 

Following the launch of SingularityNET ERC-20 Converter on Cardano mainnet, users have expressed excitement using the solution. 

The ERC-20 Converter Bridge, which enables users to easily convert the SingularityNET’s native cryptocurrency $AGIX, from the Ethereum network to Cardano, seems to be an economical solution for users looking to swap the tokens. 

A Twitter user, with the username @RichardMcCrackn, disclosed how cheap it was using the AGIX converter from the Cardano end. 

@RichardMcCrackn noted that while he paid about $60 to process his AGIX tokens from the Ethereum side, he paid a significantly lower fee of $1.25 when completing the transaction from Cardano’s end. 

“I just used the ERC-20 converter and it worked perfectly and upgraded my Ethereum tokens to Cardano native assets, which cost about $60 on the ETH side to do everything but only $1.25 on the Cardano side. I love the ERC-20 converter. FU ETH hahaha. OK, I feel better now. Good night fam,” @RichardMcCrackn said in a tweet. 

I JUST USED THE ERC-20 CONVERTER AND IT WORKED PERFECTLY AND UPGRADED MY ETHEREUM TOKENS TO CARDANO NATIVE ASSETS AND COST ABOUT $60 ON THE ETH SIDE TO DO EVERYTHING BUT ONLY $1.25 ON THE CARDANO SIDE I LOVE THE ERC-20 CONVERTER FU ETH HAHAHAHA OK I FEEL BETTER NOW GOOD NIGHT FAM pic.twitter.com/XMhjdKj0ar

— Rick McCracken DIGI 💧💧 (@RichardMcCrackn) April 20, 2022

Responding to the post, Charles Hoskinson, the CEO and founder of Input-Output Global (IOG), an organization responsible for the research and development of Cardano, made a joke out of @RichardMcCrackn’s post, But his parody reveals he is extremely happy with ERC-20 converter.

The Cardano boss, who recently expressed interest in developing a decentralized social media platform with Elon Musk, warned users to tread carefully when using the ERC-20 converter bridge because it has: 

“Known side effects, including overwhelming jubilance, hysterical laughter, and inner peace. Consult your engineer prior to the use of the ERC-20 converter.”  

Warning, the ERC-20 converter has known side effects including: overwhelming jubilance, hysterical laughter, and inner peace. Consult your engineer prior to use of ERC-20 converter https://t.co/Da4CTyJWWR

— Charles Hoskinson (@IOHK_Charles) April 20, 2022

AGIX Converter Bridge Officially Goes Live

Recall that the ERC-20 converter bridge was deployed on the Cardano mainnet after the solution completed all relevant security tests. 

The launch of the converter bridge sparked widespread jubilation among members of the Cardano community, as they stated that they will not be required to pay outrageous fees to move AGIX between wallets. 

Meanwhile, the price of AGIX across major cryptocurrency exchanges is currently down 3.60% in the last 24 hours, as it is trading around $0.151, CoinMarketCap data shows. 

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