(4) Move DAI from Ethereum Mainnet
Transfer your DAI tokens from the Ethereum Mainnet to the xDai Chain, and convert them into xDai coins.
You can convert the DAI tokens on your Ethereum network to xDai coins that live on the xDai Chain, using a tool called xDai TokenBridges, occasionally shortened to TokenBridge or simply xDai-Bridge.
This very same process but written:
First, you'll need DAI tokens. If you already have some, good for you. If you don't, exchange some fiat money (Euro, USD, etc) for DAI on the Ethereum Mainnet.
(2) Connect your web3 wallet (it will show your balance on both chains).
(3) Set the right amount to convert and confirm it.
Picture courtesy of xDai Chain.
(4) A pop-up will show, revealing the transaction current status.
(5) Click on it. It will lead you to a page called Etherscan, showing you the transaction's pending progression.
(6) After some time, the status will show "success", completing the process.
However, note that there'll still be some time before the transaction is official. This waiting time assures the blockchain everything is in order.
There's nothing you need to do for now. It also won't take long. After this brief period, the transaction is official and you can now check your balance on both chains and the successfully exchanged tokens.
This so called "bridge" is a helpful tool used to move and convert assets between different chains (like the Ethereum Network and xDai Chain).
The xDai Chain has three different types of bridges (read more about them here), we covered one of them when talking about BSC, and this other one now, the xDai-Bridge. For further details on how this bridge works, check here.
OmniBridge Faucet
The xDai Chain implemented a new OmniBridge Faucet: It automatically deposits a small amount of xDai ($0.01) to new users bridging their tokens from Ethereum Mainnet or BSC - applies only to wallets with a 0 xDai balance. This helps the onboarding process of new users, enabling them to make transactions right away!
Last modified 1yr ago