One Major Step: Integration With Fantom Is Live for WanBridge

Published in

Wanchain

3 min readNov 15, 2021

The Wanchain team is happy to announce that the WanBridge for Fantom (FTM) is now live on mainnet. This is one major step for Wanchain on the way to the crosschain blueprint as we continue to enrich our growing list of well-known public chain integrations such as Ethereum, EOS, XRP Ledger, BSC, Polkadot, Litecoin, Moonriver, Avalanche, and Dogechain.

What Is Fantom?

Fantom is a high-performance, scalable, and secure smart-contract platform.
It is designed to overcome the limitations of previous-generation blockchain platforms. Fantom is permissionless, decentralized, and open-source. The native coin of Fantom is FTM.

Fantom is fully compatible with Ethereum. Users can deploy their dApps on Fantom just like on Ethereum.

Read more about Fantom here: https://fantom.foundation/

Workflow Of FTM Crosschain

In the latest “Multi-chain Bridges” mechanism, we have successfully implemented the “direct bridge” mode. The so-called “direct bridge” means that assets can be transferred directly between two public chains without going through Wanchain as a relay.

Taking FTM from Fantom to Wanchain as an example:

When a user sends a FTM cross-chain transaction (e.g. transferring 10 FTM) via WanBridge Web, the 10 FTM coins will be locked in the crosschain contract which is deployed on the Fantom blockchain.
The Storeman Group that manages WanBridge will use the sMPC mechanism with at least 17 out of the 25 Storeman nodes to finally issue the 10 mapped assets (wanFTM) to the target address on Wanchain.

The crosschain mechanism for the entire workflow is fully decentralized, permissionless, non-custodial and of course secure.

Guide for FTM Crosschain

Necessary Crosschain Tools for FTM

For FTM crosschain, the following tools are required:

Wallets: MetaMask
Crosschain Bridge: WanBridge Web

Currently, for FTM, the decentralized crosschain bridge supports:

Fantom-Wanchain
Wanchain-Moonriver
Fantom-Moonriver

Operational Steps of FTM Crosschain

Set Fantom Opera network at Chainlist

2. Visit WanBridge Web, select Asset FTM, From Chain Fantom and To Chain Wanchain. Enter From Address, Recipient Address and Amount.

3. Confirm your crosschain information.

4. Wait until wanFTM goes to your recipient address.

About Wanchain

True DeFi is interoperable — Wanchain, the Wide Area Network chain, is the world’s premier decentralised blockchain interoperability solution. Our mission is to drive blockchain adoption through interoperability by building fully decentralised bridges that connect the world’s many siloed blockchain networks. This crosschain infrastructure empowers developers to build truly decentralised crosschain applications to power the future of DeFi.