Ubeswap launches SOL & SBR Pools: Bridge from Solana to Celo using Allbridge!
Solana has rapidly grown to be a top blockchain in 2021. Similarly, Saber has become the leading cross-chain, stable-swap exchange on Solana. The Ubeswap community is proud to announce a collaboration with Allbridge to bring both Solana’s native asset ‘SOL’ and Saber’s governance token ‘SBR’ to Celo. Two of the fastest chains and most exciting ecosystems are now available for the first time, only on Ubeswap.
In order to support liquidity in these assets, Ubeswap is incentivizing the SOL <> CELO and SBR <> UBE pools with UBE rewards! Liquidity providers will earn 6,540 UBE/week for each pool. Rewards go live October 7th, after 4PM PST. Note, these rewards are determined by the Ubeswap community and are released through a smart contract timelock set at the protocol’s formation.
How do I bridge my tokens from Solana to Celo?
Before bridging, please first confirm that you are using wallets compatible with Allbridge (i.e. Phantom for Solana and MetaMask for Celo).
Go to Allbridge’s application, then select Solana as the ‘From’ chain and Celo as the ‘To’ chain. Select the asset you would like to bridge, connect your Solana wallet, and then enter a token amount plus your Celo wallet address. The transfer will take about ~1 minute.
Once your transfer is confirmed by the Allbridge network, you will need to ‘Receive’ your tokens. Connect your Celo wallet and you will be prompted to confirm the transfer to your Celo wallet address. Congrats, you’re ready to begin farming and swapping on Ubeswap!
The token(s) you receive on Celo will have the names Allbridge SOL or Allbridge SBR on Ubeswap with the addresses listed below (tokens can be manually added to a wallet if they do not appear already):
SOL: 0x173234922eB27d5138c5e481be9dF5261fAeD450
SBR: 0x47264aE1Fc0c8e6418ebe78630718E11a07346A8
If you run into any issues bridging your tokens, you can contact the Allbridge team at info@allbridge.io, or you can interact with the chat-bot on their website. Please remember that cross-chain bridges are new technology so proceed accordingly. You can also reach out on Ubeswap’s Discord or Telegram with questions.
About Saber
Saber is the leading cross-chain AMM for pegged assets on Solana, such as stablecoins and wrapped assets. As Solana’s core cross-chain liquidity network, Saber helps facilitate the transfer of assets between Solana and other blockchains. Users deposit crypto into a Saber liquidity pool to earn rewards from transaction fees, token-based incentives, and soon automated DeFi strategies.
Website |Twitter|Discord|Medium
About Allbridge
Allbridge is modular and expanding token bridge with on-chain consensus. It’s a simple, modern, and reliable way to transfer assets between blockchain networks. Allbridge mission is to make the blockchain world borderless and provide a tool to freely move assets between different networks. In the future it will evolve into a DAO-style multi-chain hub, establishing connections between the EVM and non-EVM networks.
Website|Twitter|Telegram|Medium|Trustpilot
Disclaimer: DeFi is a new technology that comes with risk of loss. The information in this post is for educational purposes only and should not be taken as financial advice.
