Harmony Bridging and FRAX Stable Swap Guide
Getting Started….
If you haven’t used Harmony before, you will need to add the Harmony Mainnet to your MetaMask wallet.
You can do this in one of two ways:
- Follow the instructions on how to add the Harmony RPC:
https://docs.harmony.one/home/network/wallets/browser-extensions-wallets/metamask-wallet - Follow the instructions below to automate the addition of the Harmony Mainnet:
- Navigate to https://chainlist.org/
- Select the Connect Wallet button in the top right corner of the website and connect your wallet
- Search for Harmony Mainnet
- Under any of the Harmony Mainnet options, select Add to MetaMask.
- Select Approve in the MetaMask popup, then select Switch Network.
- Open MetaMask and validate that the active network is now Harmony
If sending tokens from a CEX such as KuCoin, you need a Harmony formatted wallet address (otherwise you can just use your Metamask address as it displays in the app). This address starts with “one” instead of “0x”.
- Go to https://explorer.harmony.one/#/ (Mainnet)and search for your address
- On top of the blockexplorer toogle the address format from ETH to ONE
Copy the ONE address format by clicking on the small icon right to the address
Please keep in mind you only need the Harmony ONE formatted address for withdrawing from a CEX.
BRIDGOOOORS
There are a few different routes you can use to bridge to Harmony. The primary ones we’ve tested as a DAO are highlighted in the infographic below. We will go in depth on a route that we believe is the most favorable for slippage and ease of use.
Step 1. Bridging to Harmony using Synapse
How to bridge $USDC to Harmony (using Synapse)
The following steps details how you can bridge from most popular blockchains (Ethereum, Avalanche, BSC, etc) over to Harmony.
Note: Synapse Protocol does provide 0.1 $ONE upon the completion of the transfer. This will likely be enough but you may want to add a little more $ONE to your wallet on either Sushi Swap or DeFi Kingdoms if you plan on trading and conducting multiple transactions.
- Head over to https://synapseprotocol.com/landing
- Connect your MetaMask wallet.
3. Select the Bridge tab.
4. Specify the network you wish to send assets from.
5. Choose Harmony as the receiving network.
6. Approve and complete transaction
Note: Synapse Protocol provides 0.1 $ONE to your Harmony wallet after the bridging is complete.
Step 2. Purchasing $FRAX with $1USDC
How to purchase $FRAX from $1USDC
a) From FRAX directly
- Head over to https://app.frax.finance/amm
- Connect your MetaMask wallet
- Switch to the HARMONY network by selecting the button in the middle
4. In the ‘From’ section, click the dropdown button and select $1USDC
5. Input the amount of 1USDC you wish to swap
6.Make sure you select the Canonical FRAX, pictured above witht he light bluish-green token icon. Harmony chain-native canonical FRAX Contract address: 0xFa7191D292d5633f702B0bd7E3E3BcCC0e633200
7. Click SWAP at the bottom of the page and approve the transaction
Final Actions and Thoughts
Once you have canonical FRAX in your wallet you will be able to interact with the white list contract, and later with the contract for price discovery, or create LP tokens for bonding once that is live.
We are working hand in hand with the FRAX team to build deep liquidity on the Harmony network. Stay tuned for an even smoother process and further details on our UI.
