Step-by-Step Guide to Using Spacewalk Bridge
The Spacewalk Bridge seamlessly links the Stellar and Polkadot ecosystems, enabling the transfer of Stellar’s diverse stablecoins directly to Pendulum. Stellar users can now bridge stablecoins and XLM to Pendulum, enabling their use in DeFi, including future XLM trading pools. If you prefer a visual video guide then the video tutorial below is for you. Alternatively, read on for the complete step-by-step written guide.
This written guide outlines the essential steps for leveraging Stellar’s assets, preparing them for future applications within the Pendulum ecosystem. This guide primarily focuses on the Lobstr wallet, the preferred Stellar wallet due to its security and user-friendly interface.
Contents
Step 1: Stellar Wallet Setup
Step 2: Acquire Assets on Lobstr
Step 3: Exchange from Stellar Stablecoins
Step 4: Get a Polkadot Wallet
Step 5: Get PEN
Step 6: Bridge Assets with Spacewalk
Step 7: Deposit via Lobstr
Step 8: Success
Step 1: Stellar Wallet Setup
Begin by creating a Stellar wallet. Visit Lobstr wallet and follow the prompts to set up your account. If you already have a Lobstr wallet with Stellar assets then proceed to Step 4.
Step 2: Acquire Assets on Lobstr
On Lobstr, you can acquire assets such as EURC, BRL, XLM, NGNC, AUDD or TZS. First you can utilize MoonPay or Stripe to purchase XLM or USDC with fiat.
Step 3: Exchange for Stellar Stablecoins
Once you have USDC or XLM you can go to Step 4 and bridge to Pendulum. If you want to bridge other stablecoins like BRL, TZS etc then you can use Lobstr’s Stellar swap feature to exchange XLM or USDC for the stablecoin of your choice that you wish to bridge to Pendulum.
Alternatively, you can place a sell order on Stellar’s Orderbook DEX, opting for either a limit or market order. Proceed to the next step once you have acquired your desired stablecoin. Both methods have minimal fees.
Step 4: Get a Polkadot Wallet
If you already have a Polkadot wallet skip to step 5. For a user-friendly wallet experience, we recommend Talisman or Subwallet on desktop or Nova Wallet on mobile. Learn more about choosing the right Polkadot wallet for your needs here.
Step 5: Get PEN
You will need a small amount of PEN (less than 10 PEN) to fund the gas fees for Spacewalk transactions. If you already have PEN jump to step 6. If you don’t have PEN yet you can acquire from a CEX or DEX:
From centralized exchange MEXC
Signup with MEXC and purchase Pendulum (step-by-step guide). Withdraw your PEN tokens to your Pendulum address. If you need help setting up your Polkadot/Pendulum wallet, check out our docs.
From a decentralized exchange (DEX)
You can swap a variety of Polkadot native assets (e.g. DOT, USDT, USDC) for PEN tokens using the Stellaswap trading UI on Moonbeam. To bring your Polkadot assets to Moonbeam, you can use the Cross-chain transfer UI from Stellaswap.
From a fiat on-ramp
If you prefer to purchase PEN directly with fiat currency (e.g. USD, EUR), you can also use Alchemy Pay’s fiat on-ramp solution.
Step 6: Bridge the Asset Using Spacewalk
Navigate to the Pendulum Spacewalk bridge here. Choose ‘To Pendulum’ and select the asset you wish to bridge. Enter the token amount and click ‘Bridge.’ If you have not yet connected your Polkadot wallet (e.g., Talisman, Subwallet, Polkadot.js) you’ll be prompted to do so, and then click ‘Approve’.
Please note that manual selection of vaults is available in the settings. If you wish to manually select which vault processes your transaction, click on the ‘Settings’ symbol and select before bridging.
Step 7: Deposit via Lobstr
Return to Lobstr and select ‘Send’ from the left-hand tabs. Enter the deposit details as provided by the Spacewalk bridge. Ensure to paste the recipient’s address from the ‘In a single transaction to’ section. Tick the ‘Add Memo’ box to input the required text memo. Note: if you do not include the memo you coins will be lost. Stellar transactions require memos. Review your payment details before clicking ‘Send.’
Then review the payment details and click ‘Send’.
Once Lobstr confirms the payment, go back to the Spacewalk Bridge interface and confirm the transaction by clicking ‘I have made the payment.’
Step 8: You have successfully Spacewalked!
The bridging transaction typically completes within a minute. Monitor the transaction status via the ‘Transfers’ tab on the Spacewalk bridge UI. The UI will indicate ‘Pending’ until the transfer is ‘Completed’. If your transaction hasn’t been processed after 10 minutes, contact support through Telegram or Discord for assistance.
Bridging from Polkadot to Stellar
The same process in reverse can be used for bridging assets back to Stellar. First, click ‘Back to Stellar’ on Spacewalk Bridge, and select the asset you wish to bridge back and the amount of tokens. Copy and paste your Lobstr wallet address (or any Stellar wallet address) and then click ‘Bridge’ and approve in your Polkadot wallet.
Summary
The integration of Stellar’s stablecoins into Pendulum, especially with the forthcoming Forex DEX powered by Nabla technology and single-sided staking opportunities, promises to open new horizons for liquidity and innovation. As these capabilities are introduced, users will be well-prepared to engage with and benefit from the expanding landscape of blockchain technology. Keep your eyes peeled for XLM pools on Zenlink opening up very soon where XLM can be traded for DOT and PEN and liquidity providers can earn rewards. If you have any questions or issues with using Spacewalk bridge then do not hesitate to ask in our Telegram channel any time!
About Pendulum
Building the missing link between fiat and DeFi through a fiat-optimized smart contract blockchain based on Polkadot’s Substrate. Allowing traditional finance fiat services to integrate with DeFi applications such as specialized Forex AMMs, lending protocols, or yield farming opportunities. Developed by SatoshiPay.
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