NEW CROSS-CHAIN BRIDGE WITH MINIMUM COMMISSION
I think everyone had to make a quick transfer of tokens from one network to another. This has always been possible to do only with the help of centralized exchanges, which took a lot of time and was expensive in terms of commission. Now there are services that, using a cross-chain bridge, allow you to transfer tokens, save on commissions and time. One such Project is the new Connext Project. It is an interoperability protocol, which allows developers to create open cross-domain applications (xApps) with a strong focus on security. Now you can transfer your coins to another blockchain without going to a centralized exchange. Let's see how to do it.
SEQUENCE OF TOKEN EXCHANGE USING THE CONNEXT BRIDGE
Step 1: In order to use the bridge and make an exchange between networks, you need to link your MetaMask wallet on the site:
Step 2: Next, in the window that appears, select the network and the token you need:
Step 3: After the selected network from which it is necessary to transfer the token, select the network and token to which you want to exchange in the next window:
Step 4: After we have set the necessary criteria, the service shows the commission charged. Press the Approve key to complete the exchange:
Step 5: Confirm the transaction in the MetaMask wallet. After a few minutes, the exchange will be completed.
Attention! Exchanging tokens be sure to take into account the commission for the transfer! In each of the selected networks, you must have a minimum number of tokens in order to exchange between networks.
The Connext Project was audited and no major bugs were found. Heiko Fisch, David Oz Kashi, and Martin Ortner conducted the review over two weeks, from July 26 to August 6, 2021, and 25 person-days were spent. The off-chain code components were reviewed on a best effort basis considering the given time constraints (read more here: https://consensys.net/diligence/audits/2021/07/connext-nxtp-noncustodial-xchain-transfer-protocol/ ).
Such large funds as Coinbase Ventures and Divergence, as well as many others, have invested in the Project.
The total amount of the bridge is $1.2 billion. Available liquidity $45 million. Currently 650k. transactions.
Connext already supports networks such as Ethereum, Optimism, Poligon, Arbitrum, BNB Chain and many more. (For a complete list of networks, go to the bridge at https://bridge.connext.network/?sendingChainId=137).
This Project has been audited and no major bugs have been identified: https://consensys.net/diligence/audits/2021/07/connext-nxtp-noncustodial-xchain-transfer-protocol/).
The Project has an open community. In other words, this Project has various ambassador programs, and users can take part in both the promotion of the Project and its development. This makes the service more flexible and each user contributes and can receive rewards for their actions.
You can read more about Connext Project’ documentation at links below:
Github - https://github.com/connext
Twitter https://twitter.com/ConnextNetwork
Discord - https://discord.gg/connext
