How to Bridge $DBIO to Aurora Through the Rainbow Bridge
A walkthrough on how to use your $DBIO on Aurora
Ethereum has become the de facto hub of the entire crypto world. All new cryptonetworks must be able to bridge their assets to Ethereum to receive an inflow of capital into their ecosystem. And this is true for most major blockchains, including Binance Smart Chain, Polkadot, and the NEAR Protocol. Ethereum functions as the glue that keeps the entire ecosystem together, as most digital assets are on it.
But the problem with Ethereum is that it is one of the most inefficient blockchains out there in its current state. The gas fees are tremendously high during high times, reaching $200 in some situations. Most people avoid doing transactions in Ethereum and prefer to do it within a layer two solution like Polygon. However, more projects are catching on.
Polkadot, the blockchain that champions itself for interoperability, has its EVM-compatible blockchain within its ecosystem, Moonbeam. Moonbeam uses Frontier, a library written by Parity, the creators of Polkadot, to make EVM-compatible ecosystems 100% interoperable with the current Ethereum mainnet. For the NEAR Protocol, the solution is Aurora.
What is Aurora?
Aurora is an Ethereum Virtual Machine (EVM) created by the team behind NEAR Protocol to be a scaling solution to the existing Ethereum mainnet. NEAR Protocol is one of the most efficient blockchain solutions out there. Compared with other projects such as Solana and Avalanche, transaction speeds reach up to 100,000 transactions a second.
Compared to Ethereum’s 30 transactions per second, having an EVM running on NEAR will significantly increase the number of transactions per second. Fast transaction speeds are not the only benefit of using Aurora, and users can also benefit from the low transaction fees of the NEAR ecosystem. Aurora is so efficient because it benefits from NEAR’s sharding solution. NEAR is one of the first few blockchains that already have sharding built-in.
With that said, Aurora is a viable alternative that can help Ethereum projects scale in speed without sacrificing technology. It is Metamask compatible, you can use Solidity in Aurora, and many more. It is a no-brainer for projects that wants to set foot in the Ethereum network but don’t want the fuss of having high gas fees.
Bridging Tokens From NEAR to Aurora
Rainbow Bridge is a native bridge for the NEAR Protocol that acts as an interoperability layer between NEAR, Ethereum, and Aurora and uses a two-way peg mechanism. While bridging to the Ethereum mainnet can incur high gas fees, gas fees for Aurora are minuscule in comparison, less than 0.00001 NEAR or $0.0000581 (the current NEAR price as of writing this article is $5.81).
Finding your Token Address
To bridge your NEAR tokens to Aurora, you need to have your token’s address. You can retrieve the $DBIO token address from Aurora’s token list.
First, search for the token by entering the ticker symbol. Then after which, you can copy the new token’s address in Aurora. Save the token address because you will use it later in the tutorial.
You can also add $DBIO to your Metamask.
Click the DBIO logo on the token list page, and you will go to the Aurora $DBIO token page. For simplicity, the Aurora $DBIO token will be called $aDBIO from this point on.
Inside the $aDBIO page, you can click the Add token button and prompt your Metamask wallet.
Transferring Tokens to Aurora
Open the Rainbow bridge app, and create a new transfer.
You can select your wallets by clicking the dropdown inputs.
- Select NEAR as your origin network, and connect your NEAR wallet to the Rainbow Bridge app.
- Select Aurora as your target network, and connect it to Metamask.
- Click Continue.
The Rainbow Bridge will only show you your available tokens, but since you haven’t added the $aDBIO address to add the $DBIO token, click Show all tokens.
Paste in the token address, and add the $aDBIO token to your token list.
Click on the $DBIO token to change your token selection.
Enter the number of tokens you want to transfer and click Continue.
Next, you will receive a confirmation prompt. Click Confirm Transfer. After this, you will receive another prompt from your NEAR wallet. If your account has 2FA enabled, you will need to get your one-time password (OTP).
Your transaction will be listed on the Rainbow Bridge homepage when the transaction is completed.
Note: the Rainbow Bridge homepage will only list your transactions. No one else will see the transaction on their homepages.
Check your Metamask wallet to confirm the number of $aDBIO you have.
Conclusion
Aurora is a scalable Ethereum Virtual Machine created by the team behind NEAR Protocol, one of the most efficient blockchains in the market. You explored how to bridge your $DBIO tokens from NEAR to Aurora using the Rainbow Bridge (NEAR↔Aurora). You can use your EVM-compatible assets in Aurora with fewer transaction fees and a faster speed.
If you are looking to bridge funds from Ethereum to $DBIO and transfer it into your Polkadot account within the Appchain you can follow this tutorial:
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