¶ Using the Sovryn Cross-Chain Bridge
The Sovryn Cross-Chain Bridge allows easy and permissionless transfers of your tokens from one chain/sidechain to another. There are currently 3 main chains/sidechains included in the Cross-Chain Bridge: RSK, Ethereum, and Binance Smart Chain.
Bridge location:
- The Sovryn Cross-Chain Bridge can be accessed through the Portfolio page using the Deposit and Withdraw buttons.
The cross-chain bridge facilitates the transfer of the following:
¶ Ethereum
Currently, bridging between Ethereum facilitates the transfer of 3 stablecoins (DAI, USDC, USDT) and ETH (Native ETH token) from ETH-mainnet to the Sovryn ecosystem on RSK-mainnet.
All enabled bridge tokens will be propagated to 2 aggregators according to category on RSK mainnet:
- ETHs aggregator - receive ETH
- XUSD aggregator - receive DAI, USDC, USDT
¶ Binance Smart Chain (BSC)
Bridging between Binance (BSC) enables the transfer of 4 stable coins (DAI, USDC, BUSDT, BUSD), BNB (Native BSC token) and the Binance ETH pegged token from BSC-mainnet to the Sovryn ecosystem on RSK-mainnet.
All enabled bridge tokens will be propagated to 3 aggregators according to category on RSK mainnet:
- ETHs aggregator - receive ETH
- XUSD aggregator - receive DAI, USDC, BUSDT, BUSD
- BNB aggregator - receive BNB
¶ Relevant Contract Addresses
When you use the Sovryn Cross-Chain Bridge to send assets from your address in either the Ethereum or BSC networks, you will receive the resulting tokens in your connected wallet, or the specific wallet address you designate as the receiver (where applicable). Similarly, when you send stablecoins across the bridge, you will receive a RSK network token that represents them.
If you want to see these tokens in your wallet, you may be required to add the token contract address to your wallet manually.
¶ Ethereum Contract Addresses
ETH native token on RSK:
- ETHs: 0x1D931BF8656D795e50Ef6d639562C5bD8AC2b78F
Enabled Stable coins:
- DAI: 0x6b175474e89094c44da98b954eedeac495271d0f
- USDC: 0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48
- USDT: 0xdac17f958d2ee523a2206206994597c13d831ec7
- xUSD: 0xb5999795BE0EbB5bAb23144AA5FD6A02D080299F
¶ Binance Smart Chain (BSC) Contract Addresses
BNB contract address:
- 0x6d9659bdf5b1a1da217f7bbaf7dbaf8190e2e71b
Enabled Binance pegged ETH token:
- 0x2170ed0880ac9a755fd29b2688956bd959f933f8
Enabled Stable coins:
- DAI: 0x1af3f329e8be154074d8769d1ffa4ee058b1dbc3
- USDC: 0x8ac76a51cc950d9822d68b83fe1ad97b32cd580d
- BUSDT: 0x55d398326f99059ff775485246999027b3197955
- BUSD: 0xe9e7cea3dedca5984780bafc599bd69add087d56
- xUSD: 0xb5999795BE0EbB5bAb23144AA5FD6A02D080299F
¶ Configuring the Binance Smart Chain Network
The BSC network settings can be added to your Web3 wallet as a new network.
This will allow you to bridge BSC to and from the RSK mainnet (which Sovryn operates on).
- Network Name: Smart Chain
- New RPC URL: https://bsc-dataseed.binance.org/
- ChainID: 56
- Symbol: BNB
- Block Explorer URL: https://bscscan.com
To transfer tokens across the bridge from the BSC network, you will have to first ensure that your wallet is engaged to the bridge page on the BSC network.
¶ Bridge Federators
- The bridge is a system of smart contracts on each mainnet with 5 off-chain federators that operate 24/7.
- Transferring funds through the bridge requires federators consensus (at least 3 out of 5 federators).
- Bridge fees wallets and bridge smart contracts owners are multisig wallets (3 out of 5) on each mainnet.
- The estimated time for transfer is between 20-30 minutes. However, this can take longer for significantly larger amounts.
¶ Key features and benefits
The SOVRYN Cross-Chain Bridge has beneficial advantages which improve its usability and convenience. They are:
- The bridge enables the transfer of multiple tokens from ETH-mainnet to the Sovryn ecosystem on RSK-mainnet.
- The bridge enables the transfer of multiple tokens from BSC-mainnet to the Sovryn ecosystem on RSK-mainnet.
- The ability to define a different receiver instead of transferring your asset to the address initiating the transfer. This means you can transfer your assets through the bridge and send the resulting tokens to a different wallet address in a single action.
- The minimum ETH → RSK (ETHs) transaction amount is 0.002 ETH, with a bridge fee of 0.0010 ETH
- The minimum (ETHs) RSK → ETH transaction amount is 0.001 ETHs, with a bridge fee of 0.001 ETHs
- The minimum BSC → RSK (ETHs) transaction amount is 0.002 ETH, with a bridge fee of 0.0010 Binance pegged ETH
- The minimum (ETHs) RSK → BSC transaction amount is 0.001 ETHs, with a bridge fee of 0.001 ETHs
- With the Sovryn Cross-Chain Bridge, the conversion time depends on the asset amount being transferred through the bridge.
- Small amounts get processed almost immediately (approximately under 20 minutes)
- Larger amounts take a bit longer (approximately 20 mins - 1 hour)
- The latest release includes:
- Changes to the the bridge fee and min value implementation:
This feature will enable lower fees and more accurate fee collection to cover gas cost. - The fee is no longer a global percentage, but a constant value per token, that can be updated by the bridge owners.
- The min value is not a global percentage, but a constant value per token, that can be updated by the bridge owners.
- Changes to the the bridge fee and min value implementation:
¶ Step-by-Step Guide to using the Sovryn Cross-Chain Bridge
To use the SOVRYN Cross-Chain Bridge, you'll need a configured Web3 wallet set up in your browser. If you have not yet set up such a wallet, follow this guide.
The two primary functions of the bridge are ‘Deposit’ and ‘Withdraw’ - Each process is broken down step-by-step below.
¶ Deposit
NOTE: Be sure you have enough funds for depositing, and gas costs on the relevant network.
¶ 1.) From Portfolio page, choose Deposit for the asset you wish to deposit
¶ 2.) Select the network to deposit from
¶ 3.) Connect the relevant wallet for the chosen network
¶ 4.) Choose the asset to deposit
¶ 5.) Choose the amount to deposit - ensure that min, max, fee and daily limits are taken into account and validation on "Next" button reflects these
¶ 6.) Click next and review deposit details, ensuring that amount reflects the value entered in previous step
¶ 7.) Click confirm and wait for transaction to process
¶ 8.) Once transaction confirms, switch back to RSK network and view Portfolio to ensure that correct amount of funds were transferred (minus any fees)
¶
Withdrawal
NOTE: Be sure you have enough funds for depositing, and gas costs on the relevant network. You will need some funds in your RSK wallet of the asset to be withdrawn
¶ 1.) From Portfolio page, choose Withdraw for the asset you wish to withdraw
¶ 2.) Choose the desired network to withdraw to
¶ 3.) Select the asset you will receive on destination network (XUSD can be withdrawn as USDT, USDC, DAI on supported networks)
¶ 4.) Choose the amount to withdraw - ensure that min, max, fee and daily limits are taken into account and validation on "Next" button reflects these
¶ 5.) Click next and enter receiving address (if different to current address)
¶ 6.) Click next and review withdraw details, ensuring that amount reflects the value entered in previous step
¶ 7.) Click "confirm withdrawal" and wait for transaction to process
¶ 8.) Once transaction confirms, check wallet on destination network has received desired amount of funds in correct asset (minus any fees)