imToken guide on EVM and layer 2 Cross-Chain tools
A cross chain bridge aims to enhance interoperability between blockchains. It enables the transfer of tokens, assets, smart contract instructions, or data between blockchains. With the DeFi protocol migration to Layer 2 and new DeFi/NFT/gaming ecosystem boom, there is a huge demand for cross-chain bridges and the cross-chain protocol surges. During the last few months, many uprising cross-chain protocols are developed rapidly, users can now easily swap assets between layer 1 and layer 2 networks with fast speed and lower costs.
In general, there are four types of cross-chain protocols:
Layer 2 and side chains are building their own cross-chain tools, Arbitrum and Optimistic built their native cross-chain bridge, as they used the OptimisticRollup security model, it needs 7 days to redeem your token from the bridge from L2 to L1.
Besides the native token bridge, we here wish to walk you through the most used protocols for token bridge and transaction between layer 1 and layer 2, and you can use them directly in your imToken Dapp browser or connect protocol with imToken via WalletConnect:
Anyswap-Rebranded as Multichain
Supports 25 blockchains: Ethereum, Binance Smart Chain, Avalanche, Fusion, Fantom, Huobi Eco-Chain, Polygon, xDAI, etc
Available Token: 1154
- Deposit in Multichain bridge is free however deposit to ETH does come with a 0.1% deposit fee).
2. Redeem fees are charged as explained here
3. Bridge fee:
-To BSC, Fantom, Polygon, and OkExChain: $0.9 per transaction;
-To ETH: 0.1% per transaction; minimum fees $30; maximum fees $1000.
- cBridge is a fast, efficient, and low-cost multi-chain bridge. It can help users transfer assets between Layer1 and Layer2 networks at a fast speed, it will also support cross-chain transactions between different addresses in the future.
- Also has non-EVM support for the Polkadot substrate. Plug-in needed for others.
- Blockchain network and assets supported by cBridge:
4. Cross-chain fee:
-Between Layer2 networks, extremely low handling fees
-From the Layer1 network to the Layer2 network, low handling fees
-From the Layer2 network to the Layer1 network, high handling fees
- It is developed by the Solana team, and currently supports cross-chain token and NFT transfer between 5 blockchains: Ethereum, Binance Smart Chain, Polygon, Solana, and Terra.
- Manual redeem recovering feature if the previous redeem didn‘t make through, see step-by-Step tutorial: https://docs.wormholenetwork.com/wormhole/tutorial-how-to-transfer-tokens
- The Synapse network is secured by cross-chain multi-party computation (MPC) validators operating with threshold signature schemes (TSS). It allows users to bridge funds, provide liquidity, and swap tokens within the protocol interface.
- Supports cross-chain token transactions between L1, sidechain, or L2 ecosystems, including Harmony and Moonriver.
3. How did the swap and bridge fee is calculated is a bit complicated, see the details in: https://docs.synapseprotocol.com/how-it-works/protocol-fees
- Hop allows users to quickly and easily transfer tokens directly between layer-2s, sidechains, and layer-1 Ethereum.
- Token support: USDC USDT MATIC DAI ETH
- Cross-chain AMM swap and staking feature support
- Similar protocol: Connext which supports 9 chains interoperability
Other bridges for specific Layer 2 ecosystem chains
- Maker Dai bridge: How to use Maker Dai bridge in imToken?
- Omni-bridge: currently support XDai->ETH/BSC/POA and ETH-BSC bridge
- Users can use the Polygon wallet in imToken then be able to cross-chain swap via the Polygon Bridge through WalletConnect.
- Other available bridges to Polygon Chain: xPollinate, Hop Protocol, ZapperBridge
Avalanche — Ethereum bridge
- Create your Avalanche wallet in imToken and use https://bridge.avax.network/ to bridge your token
- There is in a detailed video tutorial on Youtube and it walks you through the step-by-step guide for ETH-AVAX bridge: https://www.youtube.com/playlist?list=PLRHl-ulWK4-FPRA7SS1OrCOC8cOc2K8sP
Users can swap and bridge tokens with Spookyswap, Spiritswap, or multichain.xyz in the imTokenin imToken Dapp browser.
Users can collaborate with Ethereum via the NEAR Rainbow Bridge, which soon will be supported in imToken.
What is your favorite cross-chain tool? Comment on our Twitter or Discord channel!
Note: The content of this article does not constitute any form of investment advice or recommendation. imToken does not make any guarantees and promises for the third-party services and products mentioned in this article, nor assume any responsibility. Digital asset investment has risks. You should carefully evaluate these investment risks and consult with relevant professionals to make your own decisions.