The Ethereum <> Cardano Bi-directional Bridge is now Live!
We are pleased to reveal that our Bridge infrastructure is now live at https://occam.fi/swap!
You can now send ERC-20 OCC and receive OCC ADA in return. This first iteration is a blueprint for future token swaps from the Ethereum to Cardano network, and vice versa. You can read a full introduction to the Bridge here.
Using the Ethereum <> Cardano Bridge
So, how can you use the Ethereum <> Cardano Bridge? Let’s go through the steps below:
- Enter: https://occam.fi/swap,
- The interface has no session. This means if you refresh the page, the process will start over. However, if you have swapped OCC ADA or ERC-20 OCC already, you will receive the displayed amount to your wallet even if you close the page. However, we recommend you leave the interface open until the transaction is finalised, and you should make sure you save the transaction ID displayed at the bottom of the interface,
- Note that the net amount you will receive is calculated as: “sent_amount — transaction_fee — network_fee”, if you are happy with this, you can proceed,
- Now you are ready to swap. You won’t need to connect MetaMask at this point. Let’s look at an ERC-20 OCC to OCC ADA swap as an example:
- Enter at least the minimum amount of ERC-20 OCC (3 OCC) on the left side of the swap panel:
6. You will see how much you will receive, before the network fee, displayed in the right side of the swap panel:
7. Once the swap parameters have been entered, click ‘Wrap’. The interface will extend to show you more details, and prompt the entry of your Cardano ADA address. Enter your Cardano (ADA) address. Do not use an exchange address. You may use Yoroi. Once you’re happy, press “Confirm and make payment”:
8. You will now need to send the indicated amount to the appropriate address:
Once the transaction has been processed, you will receive the OCC ADA in your Cardano wallet. Naturally, this process is reversed for OCC ADA > ERC-20 OCC! Please note, at this point the smart contract infrastructure required to offer staking, CED rewards, and access to IDOs is not available on Cardano. Therefore, OCC ADA can only be traded or transferred. We have developers in IOHK’s Plutus Pioneer Program working on changing this as we speak!
One last thing before you try out our bridge. The way the Cardano network displays decimals is slightly different to Ethereum. Therefore, sending 1 ETH OCC will appear to yield 1 million OCC ADA, and vice versa! Please be aware of this before you swap. We are looking into making this clearer on the front-end.
Finally, please remember this is a public beta, and as such your feedback and comments are very much welcome! Let our community managers know if you think there could be improvements. Thank you for being one of the first public beta users of our Bridge!
Stay tuned for more thought-leadership, content, and updates here: