Suppose a user wants to collateralize 1 ETH on Ethereum Network. First of all, the user transfers 1 ETH to smart contracts of Qubit on Ethereum. Just like other transactions on the Ethereum network, this takes time to be completed and can be tracked on etherscan.com. Users can borrow 0.05 BNB from Qubit for future transactions such as borrowing against collateralized xETH. If the transaction is successful, 1 ETH is now securely protected by the smart contract and not required to be burned or moved out from Ethereum. Lastly, Qubit protocol mints 1 xETH on BSC network and transfers it to the user. The gas fee incurred will be covered by Qubit. The newly minted token (1 xETH) can be used to interact with protocols on the BSC network, mainly Qubit for now. The user can use 1 xETH as collateral to borrow.