Getting Started with Cosmos IBC Transfers
⚠️ Disclaimer ⚠️
IBC Transfers or Fungible Token Transfer (ICS-20) are based on a standard (ICS) under active and rapid development.
We recommend that users approach this Keplr’s feature only after careful research and awareness of the risks associated with its improper use.
Please note that Chainapsis discourages users from sending mainnet tokens such as $ATOM, $IRIS and $AKT to zones other than the Cosmos Hub, IRIS Hub and Akash Hub and does not take any liability related to the potential loss of funds due to the IBC Transfers service.
This tutorial will take Cosmos Hub and IRIS Hub as sample cases, but the process is applicable for all chains connected via IBC.
- Download (or update) Keplr Wallet Extension.
- Set up your extension creating a new account, linking your Ledger, or importing your account via mnemonic phrase (Here you can find the FAQ).
- Check that you have enough $ATOM/$IRIS in the [available balance] of your Keplr extension/Ledger Cosmos Hub & IRIS Hub accounts.
- Make sure to have ready your Cosmos/IRIS Hub address.
IBC Transfer Cosmos Hub <> IRIS Hub
- On your Keplr Extension, select [Cosmos] in the Network Selection drop-down.
- In the [IBC Transfer] section, click on [Transfer].
- Once you display the [Select Chain] field, click on [New IBC Transfer Channel]
- You can now add a new IBC Channel to your Keplr Extension: on [Destination Chain] select the only option available, [IRISnet] and write on [Destination Chain Channel ID] [channel-91]. To finalize the operation, click on [Save].
Note that if you write the wrong number on the [Destination Chain Channel ID], Keplr will reject the operation with the warning [Failed to fetch the channel].
- Once back in the IBC transaction area, enter your IRIS Hub address (iaa….) in the [Recipient] field, a MEMO (Optional), and click on [Next] to proceed.
- Now enter the amount of ATOMs you’d like to send to IRIS Hub on the [Amount] field, select the preferred transaction fee then click [Submit].
We suggest using [Average] or [High] fees at this time.
- On the transaction confirmation page, you can review the details of your transaction. Click on [Approve] to confirm.
Note: IBC transactions may take more time than the average internal transaction.
⚛️ Congratulations & Welcome to the IBC Gang! ⚛️
IBC Transfer IRIS Hub <> Cosmos Hub
We will perform this process starting from the fact that we have already performed the first transaction from Cosmos Hub to IRIS Hub.
Since Keplr automatically recognizes the channel needed to send the tokens back, we will therefore not have to do the process of entering a new IBC channel again.
If instead, you are going to make your first transaction from IRISnet to the Cosmos Hub, follow the tutorial as described in the previous section taking care to fill in the [New IBC Transfer Channel] section by selecting [Cosmos] and writing [channel-0].
Note: all Hubs have their own channel ID, and knowing it is necessary to perform the IBC transaction. There may also be backchannels opened by developers for testing purposes, but for the safety of your funds, we strongly discourage sending Mainnet tokens to chain/chain IDs other than the ones we have listed.
- On your Keplr Extension, select [IRISnet] in the Network Selection drop-down.
- In the [IBC Transfer] section, click on [Transfer].
Note: Please use the ‘IBC transfer’ feature rather than clicking on the token itself (i.e. ATOM/COSMOS CHANNEL-0) as clicking on the token will only allow you to send the IBC ATOM to another IRIS Hub address as an internal transaction, rather than sending back to the Cosmos Hub chain.
- You can notice now that by clicking in the [Destination Chain — Select Chain] field, [Cosmos] appears automatically.
- Enter your Cosmos Hub address (cosmos….) in the [Recipient] field, a MEMO (Optional), and click on [Next] to proceed.
- Now, enter the amount of $ATOM you‘d like to send back to Cosmos Hub in the [Amount] field, select the preferred transaction Fee and click on [Submit].
Note: you can select the entire amount of $ATOM available by clicking on [Balance]
- On the transaction confirmation screen, you can view the details of your transaction. Select [Approve] to confirm the transaction.
Note: the transaction will be completed at the moment the spinning circle will disappear from the section [IBC Transfer] of your Keplr Extension.
- Can I perform Interchain transactions to addresses not linked to a Keplr wallet?
Yes, but the receiver will be able to see/manage the tokens only by importing his/her account into Keplr.
- Can I perform Interchain Transfers to Exchanges?
No, if you perform IBCs transfer with an Exchange address as the destination your funds will be lost.
- Are the channels ID the same for every chain?
No, every chain has its own channel (or even multiple channels per chain): please don’t try to use different paths from the ones reported in this tutorial.
- When other mainnet chains will be available to perform IBC Transfers?
Crypto.com chain few others are almost ready: stay updated by following or social media platform to not miss any news!
- How many fees does it cost to make an IBC transfer?
Cosmos Hub to IRIS Hub/Akash Hub ($ATOM) [Average] 0.003
IRIS Hub to Cosmos Hub ($IRIS) [Average] 0.036
Akash Hub to Cosmos Hub ($AKT) [Average] 0.003
- How long does a transfer take to complete?
It depends on the current status of the network and relayer, but should not exceed 1 minute.
- How can I know that the transfer was successful?
You can check the status of the operation via block explorer that supports IBC Transfers, such as Mintscan.