What is a bridge?
To learn how to bridge the tokens, let’s first understand what a bridge is in the context of blockchain and cryptocurrency.
Simply put, a bridge is a connection that transfers tokens, data, or other assets from one blockchain to another.
By connecting your wallet on blockchain A to the bridge on the sender side and connecting your wallet on blockchain B to the bridge on the receiver side, your tokens or assets are locked at blockchain A and then released to your wallet on blockchain B, effectively bridging from one blockchain to another.
Because the tokens or assets remain locked in immutable contracts, it ensures the circulating supply of the respective asset across chains is not impacted and remains in balance.
If you want to learn more about how the bridge that OVAULT is using works, we recommend reading the following article by our bridging partner, Messina: HERE
What crypto wallets are supported?
To bridge tokens using the Messina Bridge, you can use several of your favorite web3 wallets, depending on the blockchains you are using.
ASA (Algorand): Pera Wallet, Deftly, WalletConnect
ERC20 (EVM - Ethereum, BNB Chain): MetaMask, Coinbase, WalletConnect, Trust Wallet
These wallets can be downloaded to your mobile and used as a mobile application, or if you prefer desktop, some also feature browser extensions or browser wallet integration.
For more information about each respective wallet, click the links above.
One wallet is not necessarily better than the other; it depends on personal preferences and circumstances. We recommend using your wallet details responsibly and staying vigilant throughout your actions. Cold wallet protection, such as a Ledger or Trezor, is also advised for added layers of security.
When you have chosen the wallet of your choice, it’s time to bridge your tokens.
Bridging To Arbitrum
The images displayed in this article are produced while bridging OVAULT from Algorand to Arbitrum and using Pera Wallet and MetaMask as wallet applications, respectively.
Important: Opulous will cover gas fees for migrating your MFTs from Algorand to Arbitrum, ensuring a seamless transition of your assets.
STEP 1: Select Your Source
On the Messina.one bridge page, select the Source chain that you are bridging from (Algorand, Ethereum, BNB Chain - ignore the other chains), and click on CONNECT WALLET. Then, connect the wallet of your choice by following the instructions on the screen. Scroll up to see what wallets are supported for each chain type (EVM / AVM).
STEP 2: Choose Your Destination
On the Destination drop-down menu, select Arbitrum from the list of networks and click on CONNECT Wallet. Then, follow the instructions on the screen to connect the wallet of your choice.
Important: If this is your first time using Arbitrum, make sure the network is added to your respective EVM wallet and that your wallet is switched (SWITCH NETWORK) to the newly added Arbitrum One network. Most wallet applications will automatically prompt you to add a new network when you first try to use it.
STEP 3: Final Preparations
When both wallets are successfully connected, ensure the correct token is selected on both sides and insert the number of tokens you wish to bridge in the ‘Input Bridge Amount’ field.
STEP 4: Start Bridging
Tick the box for understanding the risks associated as stated in the Messina Terms of Use, and click on REVIEW TRANSACTION.
Please verify the transaction details carefully on the confirmation pop-up and click on CONFIRM to initiate the bridging process.
Ensure your wallet application for the source chain is open and ready to receive the transaction notifications and sign the transactions as they appear on your application. A transaction ID will be generated accordingly.
Step 5: Complete The Process
After the source chain transactions are completed, click on the CLAIM button to initiate the process of releasing tokens to your wallet on the destination chain. A transaction ID will be generated accordingly.
You just bridged your OVAULT tokens successfully to Arbitrum!
Important: Your newly bridged Arbitrum tokens may not appear in your EVM wallet until you add or import (depending on the wallet of choice) the token contract manually.
Disclaimer
Individuals bridging from Algorand to Arbitrum from excluded countries cannot yet participate in OVAULT liquid staking. They must wait until OVAULT is available in their country.
However, your tokens will still accrue rewards as interest-bearing tokens. Alternatively, you could transfer the tokens to someone with access to queue them for rewards from the pool or sell them on a secondary market.
OVAULT has a total supply of one hundred billion tokens, representing the total number of pre-minted tokens on Arbitrum. These tokens are only circulated when USDC is added to the OVAULT Liquid Staking Pool.
Token References
Algorand OVAULT asset id: 1227881330
Arbitrum OVAULT Contract Address: 0x6a214298e6F8605F6aB52913E4fC4A02Ce66D33A
Do You Still Need Help?
Let us know by joining the official OVAULT Telegram Community 👉 here.
If you're still having any issues with any of the above steps, please contact us on a chat function here 👉 OVAULT Chat. You can find the chat button in the bottom right. Make sure you share as much information about your issue as you can so the support team can help you quicker.
Alternatively, you can contact support by emailing support@OVAULT.org. Ensure you share the information above so we can best assist you.