The BSC bridge enables you to swap VAI tokens on the Ethereum Network (ERC-777) to VAI tokens on the Binance Smart Chain (BSC, BEP20 tokens). However, before you get started, it is important to note the following aspects:
- You’ll need a wallet that can hold tokens on the Ethereum network and on the Binance Smart Chain to connect to our site, like Metamask.
- You’ll also have to hold $ETH and $BNB tokens to be able to pay gas fees on both networks.
- Please make sure that ahead of using the bridge, you fully understand the accompanying blockchain technologies and the consequences of trading and swapping $VAI Tokens.
Finally, you’ll need to send your $VAI assets from your Ethereum wallet to another Ethereum address and then retrieve your transaction from a BSC wallet to your BSC based wallet (or vice versa).
When you open the bridge page (available on the 1st of June 2021), you’ll see a screen similar to the one below.
Next, select the ‘Connect’ button top right to connect your wallet to the VAIOT website. This will give you the following options:
Select the wallet that you intend to use and click on “Confirm” in the wallet that you’d want to connect.
Once connected, you should confirm this by looking at the top right of the webpage. The webpage will also illustrate the amount of $VAI Tokens available in your wallet (in this case, on the Ethereum Network).
You can now get started!! 🎉
Please note: if you want to swap your assets from BCS to ETH, you’ll need to adjust your wallet to Binance Smart Chain. Logically, the pages will adjust according to whichever wallet you’ve selected.
Keep in mind that first-time users will be asked to pay a small fee; this is a necessary step that illustrates your approval of the bridge contract to withdraw funds from your wallet. If you want to swap both from BSC to Ethereum and Ethereum to BSC, you will need to pay the fee for both first transactions.
Once you’ve approved the fee, you can start swapping! Enter the amount of $VAI that you’d like to swap and select “Swap VAI”.
After carefully studying the transaction data, select “Confirm” to verify the transaction and gas fee. If successful, your wallet should give you a message such as the one below.
Once the transaction is completed, you will see an automated message telling you that there are unclaimed $VAI assets in another network. Please note that the first transaction may have been successful, but we are only halfway!
Next, it’s time to switch your wallet from (in this case) Ethereum to the BSC Network. Once the webpage has recognized the change, you should see a similar page to the one below.
Now click the retrieve button; once you confirmed the transaction and gas fee in your wallet, you will get a page like the one below.
Once this second transaction has been processed, the swap is complete. You now have $VAI Tokens available for trading on the BSC network! Congrats!
Side note: Please do not send BEP-20 VAI assets to exchanges!!
Disclaimer: Please note that all cryptocurrencies carry a prominent level of risk and may not be suitable for all investors, and there is the possibility that you will lose are your invested money. Before trading crypto assets, you should always do your research and carefully consider your investment objectives, level of experience and willingness to take the risk. Furthermore, any opinions, news, research, analysis, r other information in this article are provided as general information and should not be considered financial advice.