$VELO Cross-chain Bridge
Abstract
Velo Cross-chain Bridge allows users to transfer $VELO from Stellar to Binance Smart Chain and participate in Velo staking on Evry.Finance. We’re excited to launch this feature on Evry.Finance as one of our early staking programs with
Contents
A. Preparing your wallet on StellarX B. Important Setup requirements C. Using the Velo Cross-chain bridge
A. Prepare StellarX wallet
In order to use the Velo Cross Chain Bridge, you must prepare a StellarX wallet:
You need to sign up from this link https://www.stellarx.com/ If you have signed up already or you have a StellarX account you can choose to sign in as well:
2. After verifying, choose one way to create or import a wallet. Note, do not choose “I’ll use my Ledger device”.
3. Deposit XLM (at least 3 XLM) to your above StellarX address. (If you already have a Stellar account with enough XLM and have imported to StellarX, just ignore this step). To deposit XLM, there are 2 ways to do it:
Use the “send token” function on Ledger
Use Chrome browser web wallet extensions — Albedo (See below for instructions)
4. Set up Velo trustline in StellarX: Hit Profile → Settings → Stellar Network → Open Trustline
5. Fill in Velo public key to Asset Issuer Public Key as follows:
GDM4RQUQQUVSKQA7S6EM7XBZP3FCGH4Q7CL6TABQ7B2BEJ5ERARM2M5M
6. Fill in “VELO” to Asset Code.
7. Repeat step 3 above to deposit $VELO to StellarX address, you also have those two same method to deposit.
OPTIONAL: This is only one method of funding the StellarX wallet, skip this step if you can send XLM in other ways
How to download and set up Albedo
Download the Albedo wallet from the following link: https://chrome.google.com/webstore/detail/albedo-signer-for-stellar/kbojmmmibkfijmjgnfgfpngmmgkkpncl/
2. After downloading and installing the Albedo wallet, you can import an existing wallet or connect a hardware wallet. The wallet must have a sufficient balance of XLM.
3. Use the transfer function of Albedo to deposit XLM to StellarX address.
B. Important Setup requirements
To use the Velo Bridge, you’ll need to download and install two additional Chrome browser web wallet extensions:
Freighter Wallet Set-Up (for Stellar Native tokens)
Download the Freighter wallet from the following link: https://chrome.google.com/webstore/detail/freighter/bcacfldlkkdogcmkkibnjlakofdplcbk?
2. After downloading and installing the Freighter wallet, import your StellarX wallet to make the wallet functional.
3. Prepare secret code. You can find the secret code on your StellarX wallet by going to: Settings > under ‘User Profile’, see section ‘Stellar accounts’ and click on ‘Show secret code’ (should be under wallet address) > Input your StellarX password or recovery code to reveal your secret code and copy it.
4. To import StellarX into Freighter wallet. Click on the wallet and choose ‘Import a Stellar secret key’ > Input your secret code you got from above > Input your Freighter password > complete. Your imported wallet should now show token balance for XLM and VELO
Metamask Wallet Set-Up (for Binance Smart Chain tokens)
Download the Metamask wallet from the following link: https://chrome.google.com/webstore/detail/metamask/nkbihfbeogaeaoehlefnkodbefgpgknn?hl
2. After downloading and installing the Metamask wallet, users must create or import a wallet, or connect a hardware wallet
3. User must configure the wallet to add Binance Smart Chain (BSC) (https://academy.binance.com/en/articles/connecting-metamask-to-binance-smart-chain)
4. On the Metamask wallet. Go to Settings > Locate Networks menu > Add network (in top-right corner) > and input information below:
Network Name: Smart Chain
New RPC URL: https://bsc-dataseed.binance.org/
ChainID: 56
Symbol: BNB
Block Explorer URL: https://bscscan.com
5. Once you click back to Metamask, make sure the server is connected to BSC that you created. Note users are advice to also fund the wallet with BNB to make the wallet functional. It is recommended that users fund the wallet with at least 0.01 BNB which will be used for gas fee
6. After the Metamask wallet is funded, users must add the Velo contract address so that the Velo tokens will be visible once they are deposited in the wallet. Go to import tokens and add the Velo contract address as follows — 0x3c8ec1728c080f76dc83baa5d51a0cc367b4a35f
C. Using the Velo Bridge
Once Freighter and Metamask wallets are set up, transfer your Velo tokens from your current hardware/web wallet to StellarX.
Go to the Velo Cross Chain Bridge website: https://xchain.velo.org/.
3. Connect your Freighter wallet. Once connected, the “From” line will be autofilled.
4. Input your Binance Smart Chain address from Metamask to the “To” line.
5. Input the number of Velo tokens you would like to transfer from your Freighter wallet (Stellar Native token) to your Metamask wallet (Binance Smart Chain token).
6. Hit “Transfer”.
7. Confirm your transaction information. You can hit “confirm” to submit the trade or hit “cancel” to go back to the main page.
8. Your Velo tokens on Binance Smart Chain should now be transferred and visible on Metamask. You can also copy public address or hash to corresponding chain explorer to check the trade result.
9. If you want to transfer $VELO from BSC to Stellar, at the time of this publication, this feature in the bridge is disabled due to a technical glitch that could see the transaction fee being quite high. We hope to restore this function at a later date. Once this has been resolved, you will be able to switch the direction via the button indicated in the image below for BSC > Stellar. It’s important to note that you will need to change the direction before you connect the wallet as you will be unable to once the wallet is connected. If you need to change the direction, you’ll need to disconnect the wallet.
Otherwise, if you would like to transfer $VELO from BSC to Stellar, please email support@velo.org .
Tips:
1. Please confirm the destination wallet before sending as we are unable to reverse and incorrect transactions. For transactions from BSC to Stellar, for the time being, the destination address should be a non-exchange wallet as the bridge doesn’t support memo function.
2. The amount to be transferred must be numerical, more than zero and not exceed 5 decimal places.
3. The amount cannot be more than your balance. The only fee you will be charged will be from the exchange or Stellar network fee depending where you transfer the tokens from.
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