With the crypto ecosystem growing at a rapid pace, the demand for interoperability between blockchains is becoming greater. The ability to exchange liquid assets from one blockchain to another, with a few clicks, gives token holders the power of freedom. The freedom to choose how and where your assets are utilized at any given time. As this space expands, having these features will become the tools needed for success. Our team has successfully created one of these tools, a bridge between Binance Smart Chain, Heco, and OKExChain, which supports this long term vision. This is the first time you are able to seamlessly connect assets on BSC with HECO and OKExchain. Our team is excited to finally share it with our community!
This article will discuss how to bridge assets within FLUX Protocol using the refinance feature. Assets that are currently supported are USDT, USDC, ETH, BTC, and DAI. By refinancing, assets are bridged to the corresponding blockchain and are automatically wrapped in that blockchain’s native token structure. In order to bridge your assets, you will need to be supplying assets on FLUX. Refinance only works with supplied assets and does not work if you are borrowing against your supplied assets. You will need to repay your borrowed assets to perform these actions.
In this example, we will be bridging USDT from BSC to OKExchain to benefit from a higher APY on USDT
Here are the steps you need to have to complete the transfer:
- With your supplied asset, Click on “refinance”
- Select the asset, amount, and what blockchain you want to bridge to
- You can use FLUX tokens for a 20% discount on the exchange fees!
- Approve the transactions
- Will take a few minutes to see the assets on the corresponding blockchain!
You have successfully refinanced assets using Flux Protocol V3!
*Note: there may be $100 minimums on some chains in order to bridge