How to Bridge from Fantom to Evmos
Celer cBridge makes it quick, easy, and secure to bridge assets from Fantom to Evmos and from Evmos to Fantom by following these simple steps:
Step 1:
Connect your wallet by clicking on the “Connect Wallet” button above in order to begin your cross-chain transfer.
Step 2:
Select “Fantom” in the “From” dropdown menu, select “Evmos” in the “To” dropdown menu, and then select the asset type you wish to bridge to Evmos.
Please Note: You will have to switch your wallet’s network to Fantom in order to perform the cross-chain bridging of your selected token from Fantom to Evmos.
Step 3:
Input the amount of the token you selected that you would like to transfer from Fantom to Evmos in the “Send:” field. The estimated amount of that asset that is to be bridged to Evmos will be displayed in the “Receive (estimated)” field.
Step 4:
Review all of the Evmos bridge transfer information and cost estimates. If all of the cross-chain bridging transaction information is correct and acceptable, click the “Transfer” button and approve the transaction prompts to begin the cross-chain transfer.
Step 5:
Wait for your cross-chain bridge transaction to Evmos to complete. You will then receive your bridged tokens on Evmos.
Please Note: Most cross-chain transfers are completed almost instantaneously, however some may take as long as 20 minutes to complete depending on how much traffic the chain is experiencing.
If you wish to see more details about the bridge transaction from Fantom to Evmos, you can click the links in your “Transfer History” tab.
For a more in-depth step-by-step guide on cross-chain transfers and crypto bridging see our full tutorial here:
https://cbridge-docs.celer.network/tutorial/cross-chain-transfer
Fantom Information
Fantom, a layer 1 blockchain, is a “high-performance, scalable, EVM-compatible, and secure smart-contract platform.” With over 200 dApps launched on the Fantom mainnet, Fantom’s consensus mechanism, Lachesis, enables the delivery of fast transaction speeds, low transaction costs, and deterministic finality, while remaining permissionless, decentralized, and open-source.
Similar to other Ethereum Virtual Machine (EVM) compatible platforms, applications that are built using Solidity, the Ethereum programming language, developers can deploy on Fantom with minimal modifications. Fantom envisions a more connected and efficient blockchain ecosystem and is expanding its blockchain technology footprint.
Fantom / (FTM) Current Information
Description
FTM is the primary token on the Fantom network, and is used for securing the network (as the main utility token) through staking, for governance, for payments, and for fees. With a total supply of 3.175 billion FTM tokens, FTM is available as native mainnet tokens, as ERC-20 tokens, and as BEP-2 tokens.
Our cross-chain bridge, cBridge, supports the cross-chain bridging of FTM between multiple chains with the fastest speeds, lowest costs, and most secure transactions available. The full name of this asset is Fantom and the ticker of this asset is FTM.
Evmos Information
Evmos is the first EVM compatible chain within the Cosmos ecosystem and is blockchain agnostic as it’s often considered the gateway to connect between Ethereum-based dApps and the Cosmos ecosystem. This includes its independent decentralized blockchains like Crypto.org Chain, Osmosis, Cosmos, etc.
Similar to many blockchains, Emovs has its own native token called EVMOS. This is used for paying transaction fees, staking to secure the network, and for taking part in Evmos’ governance similar to ETH on Ethereum.
EVMOS (EVMOS) Current Information
Description
The EVMOS token plays various key roles within the Evmos ecosystem. For example, while Evmos gas prices are based on EIP-1559 and are priced based on blockchain use, Evmos redeploys and puts the funds to use, rather than burning them. Other use cases include governance and voting, incentivizing Evmos applications, rewarding participants and developers via joint fee revenue system, and registering tokens on the ERC-20 standard for EVM-IBC integration with ERC-20s.
Celer’s cross-chain bridge, cBridge, supports the cross-chain bridging of EVMOS between multiple chains with the fastest speeds, lowest costs, and most secure transactions available. The full name of this asset is Evmos token and the ticker of this asset is EVMOS.
What is a Blockchain/Crypto Bridge?
Blockchain or Crypto bridges work just like the real thing, but instead of connecting physical places together, they are used to connect digital ecosystems together. These bridges can pass both information and assets between the bridged blockchains. We call this a cross-chain transfer.
As an example, if you have a need to use a token on Evmos, and you have that token on Fantom and not on Evmos, you could either deposit more of that token specifically on Evmos, or you could find a Evmos bridge that will bridge that from Fantom to Evmos so you do not have to spend more to get additional tokens just because it is on Evmos.
There are also different types of bridging in terms of how the cross-chain transfer is done from a technical standpoint. There is liquidity-based bridging where there are liquidity pools of an asset on both the source and destination blockchains. There is also canonical-based bridging where an asset is locked on the source chain and a new asset that represents that locked asset is created on the destination chain.
Bridging and cross-chain transfers are not limited to just normal assets or fungible tokens either. Bridges can transfer and move non-fungible tokens (NFTs) between chains as well. cBridge supports 2 main models when it comes to NFT bridging, pegged NFT bridging and multi-chain native (MCN) NFT bridging. Pegged NFT bridging is similar to the canonical-based bridging mentioned above. The NFT is locked on the source chain and a new NFT that represents that locked NFT is created, or minted, on the destination chain. In the MCN NFT bridging model, however, a MCN NFT does not have the notion of “origin chain” or "original NFT". When transferring an MCN NFT from chain A to chain B, the only pattern is "Burn-and-Mint" so that there is always only one NFT across all of the chains.
Then there are the different levels of “trust” you can have in a crypto bridge. The two main types are trusted and trustless bridges. Trusted bridges depend on a central system or entity and require you to put your trust in them if you wish to use their bridge. Trustless bridges, like our own cBridge, are completely controlled by and run on automated smart contracts and algorithms that have the same security and stability as the blockchain itself.
Things start to get a more complex from there so if you are interested in learning more about the different types of bridges and the tech behind them, you can read through our documents here: https://cbridge-docs.celer.network/
What are the Benefits of Using a Blockchain/Crypto Bridge?
There are many reasons you may want to use a bridge to do a cross-chain transfer between different blockchains:
Lower transaction fees
You can take advantage of platforms with lower transaction fees and higher speeds when compared to more congested chains, like Ethereum Mainnet. Especially when exploring different decentralized applications (dApps). You can look at alternative chains, like BNB Chain, and bridge whatever asset you wish to bridge, from Ethereum to BNB Chain. You can then get some of that chain’s utility token and will be able to enjoy the lower transaction fees and higher speeds afforded to chains like BNB Chain.
Take advantage of other dapps and opportunities on different blockchains
If you’ve been providing liquidity for lending out a certain token on Fantom, but see that the interest rate for lending that token on Evmos is significantly higher; you can use a cross-chain transfer to move your tokens from Fantom to Evmos in order to take advantage of that higher interest rate.
Explore other blockchain ecosystems
The Web3 world is growing fast and you now have more options than ever before when it comes to different blockchains and dApps on those chains. There are many different compelling reasons why developers are building on the chains they are and with all of this diversity it makes it difficult to select a chain to invest in. Bridges and cross-chain transfers help solve this issue. By giving you the ability to bridge assets like ETH, USDT, USDC, and BTC to different chains, this opens up your options when it comes to being able to explore alternate L1 chains and the native dapps and services that they provide.