Bridging ENV tokens
Last updated
Last updated
In this how-to guide, we are going to explain in detail how we use ChainPort.io to bridge the ENV token between different Ethereum and Binance Smart Chain.
Definition: Bridging a token refers to an interoperability protocol that allows for the transfer of tokens between two different blockchain ecosystems.
For this how-to instruction, we will be going over how to bridge the ENV token from one chain to another using ChainPort.io.
Go to ChainPort.io
Choose the Chain you want to bridge From
Choose the Chain you want to bridge To
Connect to a Wallet
Selecting a Token
Choose the Balance you want to Bridge
Burn the Tokens (Transaction 1)
Claiming the newly minted Tokens (Transaction 2)
Overview & Support
The very first step will be to go to chainport.io and click on the Launch App button. This will open a new tab that will launch the ChainPort App.
Once you are in the app, you will first have to choose the chain you want to bridge “from”. This is the chain where your ENV tokens are currently in.
All you have to do is click on the dropdown menu under the From text on the left side, and choose the chain. In this instance, we will bridge our ENV tokens claimed from the IDO, which was on BSC. In this case, we have chosen BSC as the From chain.
Once you have chosen the From chain, you will have to choose which chain you want to bridge to. This will be the chain your ENV tokens will be on after completing the entire bridging process. To do so, all you will have to do is click on the dropdown menu under the To text on the right side. In this case, we have chosen to bridge our ENV to Ethereum.
As an overview, we have chosen to bridge our ENV tokens that are currently on the Ethereum chain to the Ethereum chain.
It is important to understand how the Bridge will convert the tokens from one chain to another.
Token transfer doesn’t take place literally; rather when a token is needed to transfer from one blockchain to another, it is burned on the first and an equivalent token is minted on the other. This means that two transactions take place,
Burning the token
Claiming the newly minted token
These two transactions will both involve gas fees on their respective chains.
In our scenario, the ENV tokens on the BSC chain will be burned, and then we will be able to claim the newly minted ENV tokens on the Ethereum chain.
⚠️ This means that we will need BNB for the gas fees needed to burn the token from BSC, and ETH for the gas fees needed to claim the newly minted ones on Ethereum.
To connect to your wallet, all you will have to do is click on the Connect Wallet button. This will open a pop-up to choose which wallet you want to connect. At the time of this how-to instruction, ChainPort only allows connecting the following wallets:
MetaMask
WalletConnect
Fortmatic
Portis
In this case, we will be using a MetaMask wallet. To do so, click on the MetaMask option, and this should automatically open the MetaMask extension. Make sure you are connected to your MetaMask account that holds your ENV tokens. You will then need to approve the connection through the Connect button.
Once your wallet is connected, make sure to be on the Chain your bridging your tokens “from”. In this scenario, we’re bridging from the BSC chain to Ethereum, thus for the very first transaction, we will need to be on the BSC mainnet on your MetaMask. To do so, simply click on the Switch your Wallet Chain to BSC button.
If you do not have the BSC network added to your MetaMask wallet, follow the instructions in the following guide: https://academy.binance.com/en/articles/connecting-metamask-to-binance-smart-chain
Once you have chosen the chains you want to bridge from and to, you will then have to select a token. To do so, you will have to click on the dropdown menu under Search A Token. This will open a search bar where you can either search for the token itself or paste the token address.
To be extra secure, it is always better to paste the token addresses. Here is a list of the ENV token addresses. You will have to input the token address from the chain you are bridging “from”.
Official ENV Token information
In this case, we will have to select ENV or input the ENV BSC token address.
Once you have selected the token you want to bridge (ENV), you will then have to choose the amount you want to bridge. The balance of ENV tokens you have on the “from” chain will automatically be detected.
Once you have selected the balance, you are all set to start the bridging process. As a reminder, there will be two transactions, (1) the burning of the tokens on the “from” chain, and (2) the claiming of the newly minted tokens on the “to” chain.
Gas Fees:
For this transaction, to burn the ENV BSC tokens, you will need BNB for the gas fees.
Chainport will automatically input a suggested gas fee.
If you want to manually input the gas fee amount, you can do so. You may use Gas Fee Trackers as a guide
Ethereum: https://etherscan.com/gastracker
Once the transaction has been confirmed from your wallet extension (in this case, MetaMask), the burning process will then start.
Once the tokens from the selected chain have been burned, ChainPort will ask you to switch your Network on your wallet to the chain you are bridging to. In this case, we will have to switch to the Ethereum chain.
Once you have done so, you will be able to claim the tokens. You will first have to choose the gas fees once more, then click on Release ENV on Ethereum.
Gas Fees:
For this transaction, to release the ENV Ethereum tokens, you will need ETH for the gas fees.
ChainPort will automatically input a suggested gas fee.
Once the transaction has been confirmed from your wallet extension (in this case, MetaMask), the release process will then start.
Confirming your transaction in your wallet:
Releasing the ENV tokens on the bridged chain:
Congratulations, once the tokens have been released, you have successfully bridged your token from one chain to another.
If you are facing any issues, you may contact the Envoy Team on our support channel: Telegram or contact the ChainPort team through their helpdesk: Intercom button on the bottom right on the ChainPort App.
