1. Introduction
Overview of BitoBridge
BitoBridge is an omnichain bridge that focuses on integrating Bitcoin and its tokens across multiple blockchains. BitoBridge is designed to be a trust-minimized, decentralized, two-way pegged Bitcoin omnichain bridge achieved by leveraging Internet Computer (IC) technologies. It is intended to enhance Bitcoin and its tokens’ utilities by incorporating them into diverse DeFi ecosystems.
The BitoBridge testnet launched on July 15, 2024. Currently, BitoBridge supports BTC<>Ethereum, BTC<>Arbitrum, IC<>Arbitrum, and IC<>Ethereum. In the future, we plan to extend support to additional blockchains, such as Solana and Polkadot, potentially unlocking more rewards for our community with these new integrations.
Exclusive Incentive Program — BitoBridge Testnet Engagement
To mark the launch of the BitoBridge testnet and better gather community feedback for product enhancements and optimizations, we are excited to announce our Exclusive Incentive Program—BitoBridge Testnet Engagement. Starting at 00:00 UTC on July 20, 2024, participants can engage with BitoBridge to earn points and qualify for future BITO airdrops. This initiative allows you to be an integral part of our development process and offers the chance to earn exclusive rewards.
2. Prerequisites
Creating and Setting Up Wallets
To facilitate the upcoming BitoBridge engagements, please ensure you have the following wallets prepared (for an optimal experience, it’s best to install the necessary wallet extensions to your browser):
- A BTC Wallet: Unisat wallet.
- An EVM Wallet, such as Metamask or OKX wallet.
- An IC Wallet or ID, such as Plug or Internet Identity.
3. Preparation
3.1 Connect to the BitoBridge DApp
- Visit the BitoBridge testnet DApp.
- Connect your IC wallet or Internet Identity to use the DApp.
3.2 Obtaining Testnet Tokens
Locate the test token claim button at the bottom right corner of the page to receive your testBTC and testBITO.
(1) Claim testBTC:
Click the “Claim testBTC” button to be redirected to the claim page. Enter the BTC address of your connected Bitcoin wallet to receive a random amount of testBTC.
(Apart from the recommended faucet provided on our website, other faucets are available online where you can claim testBTC. Please ensure you choose a secure and reliable faucet to avoid scams. Conduct thorough research and verify the legitimacy of the faucets before using them.)
(2) Claim testBITO:
Click the “Claim testBITO” button to receive 100 testBITO.
You can claim test BTC and testBITO every 12 hours; please remember to check back regularly and obtain as many tokens as possible (maybe more rewards, who knows :) ).
4. Bridging
4.1 ICRC Bridge
Bridge TestBITO between the IC chain and the Ethereum or Arbitrum networks:
To ensure a smooth and effective bridge interaction, follow these steps:
(1) Select Source Chain: Choose your source chain (e.g., IC chain).
(2) Select Target Chain: Choose your target chain (e.g., Ethereum chain).
(3) Enter Amount: Specify the amount of assets you want to bridge.
(4) Fetch Gas Fee: Wait for the network to fetch the gas fee successfully, then click the “Bridge” button below.
(5) Confirm Order: In the pop-up window, click “OK” to confirm the order information.
(6) Approve Transaction: In your wallet pop-up, click “Approve” to confirm the transaction.
(You can freely choose your source and target chains to bridge assets in different directions and across various networks. For example, if you want to bridge tokens to Arbitrum, you can select Arbitrum as the target chain.)
Users can monitor the transaction's status by checking the “Bridging History” section. This feature lets you track progress and confirm when your transaction has been successfully processed.
4.2 BTC Bridge
Bridge assets between the BTC chain and the Ethereum or Arbitrum networks:
The interaction steps are similar to those of the ICRC Bridge. However, when bridging assets from ETH or ARB back to BTC, ensure you have claimed the corresponding Sepolia ETH gas for the respective network.
Feel free to explore all the functionalities BitoBridge offers and provide feedback to help us optimize the platform.
5. Submitting Feedback and Reporting Issues
As we rolled out V1.0.0 of the BitoBridge testnet, numerous bugs will need to be identified, and various optimizations must be addressed. If you have any feedback, you can submit it in the OC community on the Feedback & Suggestions channel. We welcome any related feedback, thoughts, insights, and suggestions!
6. Frequently Asked Questions
Q1. Why does bridging from ICRC to EVM (eth) take so long?
A1. The system sets the gas fee of the target chain by querying the current fee level. However, when your transaction is processed on IC, the target chain gas fee may increase. The current mechanism is waiting for the gas fee to go below the set gas fee, just like wallets. We have optimization ideas in mind, such as providing a “speed-up” button so that users can increase their gas fee to speed up the process.
Q2. Why does bridging BTC to ETH/ARB take a long time?
A2. BTC => ETH/ARB consists of two waitings mainly:
One on the Bitcoin blockchain side: 6 confirmations for livenet (~60 mins), or 3 confirmations for the testnet (waiting time varies).
The other one is on EVM/ARB: the waiting time varies significantly because the system waits for the gas fee of the target chain to be lower than the gas fee set when submitting the transaction.
7. Security Considerations
Protecting Private Keys
Securing your private keys is paramount to ensuring the safety of your assets. Always store your private keys in a secure location, preferably offline. Avoid sharing your private keys with anyone, and be cautious of requests.
Identifying Phishing Sites
Phishing sites and scams are prevalent in the crypto space. To protect yourself, always verify the URL before entering any sensitive information. Look for the official BitoBridge website and avoid clicking on suspicious links from untrusted sources. Use bookmarks for frequently visited sites and enable two-factor authentication where possible.
8. Conclusion
We encourage all users to stay engaged with the testnet and keep up with the latest updates. Your continuous participation is crucial for the success and optimization of BitoBridge.
For more information, please visit our official resources and channels:
- Website: https://www.bitomni.io/
- X: https://x.com/Bitomni_Global
- OpenChat: https://oc.app/community/bitomni
- Telegram: https://t.me/Bitomni
- Github: https://github.com/CypherBabel-Lab
Glossary:
Source Chain: The blockchain from which assets are being transferred.
Target Chain: The blockchain to which assets are being transferred.
Gas Fee: The transaction fee required to process and confirm a transaction on a blockchain network.
Bridging History: A section that allows users to track the progress and confirm the status of their transactions.
