Finminity ($FMT) introduces Cross Chain Bridge between Ethereum and Binance Smart Chain for its onboarded companies
Finminity is excited to announce Finminity Bridge, an easy to use lightweight Ethereum to Binance Smart Chain for its token ($FMT) as well as projects and teams wanting to make their tokens cross-chain across ETH, BSC.
FMT ERC20 Contracts Address: 0x99c6e435eC259A7E8d65E1955C9423DB624bA54C
ERC20 Bridge Address: 0x0CB5b73D1c4ca844a05856f50Ee8Df8E50b867a0
FMT BEP20 Contract Address: 0x99c6e435eC259A7E8d65E1955C9423DB624bA54C
BEP20 Bridge Address: 0x0CB5b73D1c4ca844a05856f50Ee8Df8E50b867a0
User experience is a high priority during the use of the bridge and we have kept the process and UI simple to ensure seamless token swapping between chains.
Through Metamask Connect Wallet, connect to a specific network and your tokens will be displayed and you can swap them between the chains. The gas cost has to be borne by the user.
IMP NOTE: FOR BRIDGE TRANSACTION TO WORK, THERE SHOULD BE ETH AND BNB IN THE WALLET, TO TAKE CARE OF THE TRANSACTION FEES FOR BOTH CHAINS
Step by Step Guide
A) From BSC to Ethereum
Step 1. Open the Finminity Bridge. Connect your wallet (as of now, only Metamask browser is supported)
Once your Wallet is connected, you can see your $FMT balance on BSC Mainnet (Follow Steps to connect Metamask in BSC)
Step 2. Steps to Transfer FMT BEP20 (Binance Smart Chain) to FMT ERC 20 (Ethereum)
- Enter the amount of FMT BSC20 you wish to transfer or choose “Max”. For our example, we take 10 FMT from BSC. So the above box shows what would be the resultant after the actual transfer.
- Click on “Transfer ”.
- Confirm the transaction on Metamask.
3. It will give you a message that transaction is pending. Remember that here you are connected to BSC and you need to check the BSCScan transaction for status or wait for Metamask message
Step 3. Once the transaction is confirmed, switch to Ethereum network to see your FMT ERC20 tokens
In case you can’t see the FMT ERC20 tokens, please use the ECR-20 token contract (0x99c6e435eC259A7E8d65E1955C9423DB624bA54C) and add a custom token and add them into your wallet.
Step 4. Now if you open the bridge, you can see that 10 FMT BSC Tokens has moved to Ethereum side and now there are 10 tokens in each side.
B) From Ethereum to BSC
In this example, we will take the above wallet where there is 10 FMT ERC20 tokens in the wallet and try to send 5 of these ERC20 tokens to BSC side. (Caution: As Ethereum network gas fees are high, please check gas fees at https://ethgasstation.info and send the transaction when it’s less)
Step 1. Open the Finminity Bridge. Connect your wallet (as of now only Metamask browser is supported) and aslo see if you are in Ethereum Mainnet.
Check the current FMT ERC-20 tokens you hold (shows in the top red wallet box and also the Ethereum box in the left). In this example we are holding 10 and would like to transfer 5 to BSC
Step 2. Steps to Transfer FMT ERC 20 (Ethereum) to FMT BEP20 (Binance Smart Chain)
- Enter the amount of FMT BSC20 you wish to transfer or choose “Max”. We enter 5 here. As soon as you enter 5, the box numbers change for the resultant scenario
2. Click on Transfer.
3. Confirm the transaction on Metamask.
4. It will give you a message that transaction is pending. Remember here you are connected to Ethereum and you need to check the EtherScan transaction for status or wait for Metamask message of conformation. There could be a delay based on ETH network status. So please have patience and do this when network congestion is low
5. If the transaction was successful, you will see that 5 tokens has moved back to BSC side to make the count 15.
Steps to connect Metamask to BSC Chain -
Step 1: Click on Meta Mask then select settings
Step 2: Scroll down to network and select network.
Step 3: Select Add Network
Step 4: Enter the following Details —
- Network Name — Binance Smart Chain
- New RPC URL — https://bsc-dataseed.binance.org/
- Chain ID — 56
- Currency symbol — BNB
- Block Explorer URL — https://bscscan.com
Now you have added BSC network to your Metamask wallet. You can use this connection when you want to work with Binance Smart Chain.
Disclaimer: The Bridge works on the Ethereum and BSC Network and any congestion/delay coming from the network is not something we can support.
Finminity is an innovative Polkadot-driven cross-chain DeFi investor services platform that is flexible, rewarding, and most importantly secures funds through DeFi safety protocols of Value Locks, DAO, and Milestone-based fund release.