How to preconvert into Bridge.vARRR

Participate in the first ever Verus PBaaS-chain launch — vARRR, from Pirate Chain. You can preconvert VRSC, tBTC.vETH & Bridge.vETH into the reserves of Bridge.vARRR. After the preconversion period you get a part of the initial 80,000 Bridge.vARRR supply.

Max Theyse

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4 min readMar 20, 2024

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The vARRR PBaaS-chain launches at the Verus block height 2,986,660 (~Mon, 01 Apr 2024). Miners can then mine two chains at the same time! Read more: Verus: Profit Generating Protocol for Miners and Stakers
Preconvert until April 1, after that the initial supply of 80,000 is distributed equally by the protocol to all users who have preconverted.
There is a prelaunch discount of 5% — this means that after the preconversion period the protocol prices are 5% higher.
Check the Bridge.vARRR statistics here: https://varrr.piratechain.com/ (what is in the reserves and what are the protocol prices).
After the preconversion period all reserve currencies of Bridge.vARRR can be converted with each other in all directions (VRSC, tBTC, Bridge.vETH, vARRR) and also to and from Bridge.vARRR.
Bridge.vARRR accrues conversion fees — 0.025% of all reserve to reserve conversions, 0.0125% of all Bridge.vARRR to reserve currencies (and vice versa). The conversion fees stay in the Bridge.vARRR reserves, increasing the value of Bridge.vARRR since no new Bridge.vARRR is minted.
The Bridge.vARRR supply is dynamic after the preconversion period has ended. New currency is minted when people convert to it from VRSC, tBTC, Bridge.vETH & vARRR, and burned when people convert from Bridge.vARRR back to its reserve currencies.
Preconverting is done on the Verus blockchain. After the preconversion period and the supply has been distributed, you have to import the used address’ private key into the vARRR PBaaS-chain to get your Bridge.vARRR.

How to preconvert?

If you want to preconvert BTC, you need to mint it to tBTC on the Ethereum blockchain and then bridge it over to the Verus blockchain. Read this article from this chapter here: “What is tBTC, how do I get it & bridge it to Verus?”.

Preconvert with Verus Desktop

To preconvert with Verus Desktop you need to run a full node (native mode). You need to have VRSC, tBTC.vETH or Bridge.vETH in your wallet. Then click “Convert Currencies” and go to the “Advanced”-tab.

Preconvert into the reserves of Bridge.vARRR with Verus Desktop.

Choose amount to send (VRSC, tBTC.vETH or Bridge.vETH).
“From Currency”: fill in VRSC, tBTC.vETH or Bridge.vETH.
“To Currency”: fill in Bridge.vARRR.
“Destination System”: vARRR
“Destination Address”: fill in a R-address where you want to receive Bridge.vARRR. You later need to import the private key of this address into the vARRR PBaaS-chain when it is live.
Check the box: “Send as pre-convert”.
“Refund Address”: Sometimes a currency has a minimum or maximum amount to preconvert before it launches. For example, when the minimum preconversion amount is not met, and thus the currency not launched, you will receive your funds back. In this case there isn’t a minimum or maximum but you still need to fill it in. Can be the same as your Destination Address.
Now click “Convert Currencies”, and that’s it! You have now added a currency into the reserves of Bridge.vARRR and have to wait until Bridge.vARRR is out of the preconversion period.

Preconvert with Verus Mobile

You can download Verus Mobile on the App Store & Google Play.

Preconvert into the reserves of Bridge.vARRR with Verus Mobile.

You can preconvert with VRSC, tBTC.vETH and Bridge.vETH. To add those last two currencies in Verus Mobile press the “plus”-button bottom-right. Then “Add PBaaS Currency” and fill in the full names. Read this article to how to bridge tBTC from Ethereum to Verus.

Let’s preconvert:

Press VRSC, tBTC.vETH or Bridge.vETH
Press “Send” and then “Convert or cross-chain”
Press “Preconvert”
As the recipient address fill in a Verus address you own (R-address)
Fill in the amount you want to preconvert
Then as “Select currency to preconvert to” choose Bridge.vARRR (direct)
Then as “Select network to send to” choose vARRR
Now press “Send” and confirm (ignore the error that it could not calculate an estimation) and that’s it! You have now added a currency into the reserves of Bridge.vARRR and have to wait until Bridge.vARRR is out of the preconversion period.

When the vARRR PBaaS-chain is launched (April 1, 2024), Bridge.vARRR becomes available. If you preconverted into your own address from Verus Mobile all you have to do is add Bridge.vARRR as a PBaaS-currency. Just press the “plus”-button bottom-right and select “Add PBaaS Currency”.

If there are any questions don’t hesitate to join the Verus Discord or the Pirate Discord and ask away! Both communities are happy to help.

Join the crypto revolution with Verus & vARRR

vARRR is the first ever PBaaS-chain, launched with the Verus Protocol. Join the Verus Discord and explore what Verus has to offer!