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 $VENT token from one chain to another using our Chainport.io.
Table of Contents:
1. Go to Chainport.io:
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.
2. Choose the Chain you want to bridge
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 VENT 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 VENT tokens claimed from the IDO, which was on the Polygon chain. In this case, we have chosen Polygon as the
3. Choose the Chain you want to bridge
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 VENT 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 $VENT to Ethereum.
As an overview, we have chosen to bridge our $VENT tokens that are currently on the Polygon chain to the Ethereum chain.
How a token is bridged from one chain to another?
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,
1. Burning the token,
2. Claiming the newly minted token.
These two transactions will both involve gas fees on their respective chains.
In our scenario, the VENT tokens on the Polygon chain will be burned, and then we will be able to claim the newly minted $VENT tokens on the Ethereum chain.
⚠️ This means that we will need MATIC for the gas fees needed to burn the token from Polygon, and ETH for the gas fees needed to claim the newly minted ones on Ethereum.
4. Connect to a Wallet:
To connect to your wallet, all you will have to do is click on the
Connect Wallet button. This will open a pop-up to choose which wallet you want to connect. At the time of this how-to instruction, Chainport only allows connecting the following wallets:
In this case, we will be using a MetaMask wallet. To do so, click on the MetaMask option, and this should automatically open the MetaMask extension. Make sure you are connected to your MetaMask account that holds your VENT tokens. You will then need to approve the connection through the
Once your wallet is connected, make sure to be on the Chain your bridging your tokens "from". In this scenario, we're bridging from the Polygon chain to Ethereum, thus for the very first transaction, we will need to be on the Polygon mainnet on your MetaMask. To do so, simply click on the
Switch to x Chain in your wallet button.
If you do not have the Polygon chain added to your MetaMask wallet, check out our
How-to add Custom Networks on Metamask article.
5. Selecting a Token
Once you have chosen the chains you want to bridge from and to, you will then have to select a token. To do so, you will have to click on the dropdown menu under
Search A Token. This will open a search bar where you can either search for the token itself or paste the token address.
To be extra secure, it is always better to paste the token addresses. Here is a list of the VENT token addresses. You will have to input the token address from the chain you are bridging "from".
VENT Token Addresses:
In this case, we will have to input the VENT Polygon token address.
6. Choose the Balance you want to Bridge:
Once you have selected the token you want to bridge ($VENT), you will then have to choose the amount you want to bridge. The balance of VENT tokens you have on the "from" chain will automatically be detected.
7. Burn the Tokens (Transaction 1)
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.
For this transaction, to burn the VENT Polygon tokens, you will need MATIC 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:
Once the transaction has been confirmed from your wallet extension (in this case, MetaMask), the burning process will then start.
8. Claiming the newly minted Tokens (Transaction 2)
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 VENT on x.
For this transaction, to release the VENT 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 VENT tokens on the bridged chain:
9. Overview & Support
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 Vent Team on our support channel: @ventsupport on Telegram or contact the Chainport team through their helpdesk: Intercom button on the bottom right on the Chainport App.