How to transfer ECR-20 EVER tokens to the native network
It has become fairly clear that there is no one blockchain to rule them all, and all blockchains are interconnected. Everscale alone can be bridged to nine different blockchains via Octus Bridge. In this article, we’d like to show you how to transfer wrapped ERC-20 EVER tokens to the Everscale network in order to use EVER tokens natively, stake them, and participate in FlatQube farming, Ever DAO governance, and so on.
What is an ERC-20 EVER token?
First of all, let’s figure out what an ERC-20 EVER token is. ERC-20 is a token standard on the Ethereum network for fungible tokens, i.e tokens sharing a property that makes each one exactly the same as the others. For example, 1 WEVER always equals 1 WEVER. WEVER is a wrapped version of the EVER token which is and always will be equal to 1 EVER token.
Let’s figure out how to bridge WEVER to the Everscale network and enjoy the advantages of Everscale’s DeFi products and the ecosystem. Some exchanges support both ERC-20 WEVER and mainnet EVER. Make sure you choose the correct network while placing a withdrawal request. ERC-20 WEVER belongs to the Ethereum blockchain network, while mainnet EVER refers to native Everscale currency. If you are withdrawing WEVER via the Everscale mainnet, you don’t need to use OctusBridge to bridge your assets. It would already be on the Everscale blockchain, and you would only need to unwrap WEVER using the WEVER/EVER wrapper tool.
How to bridge WEVER and unwrap it to native EVER tokens
First of all, it’s necessary to figure out where you store your WEVER tokens: whether you store them on a centralized exchange, such as Huobi, or in your Metamask wallet, which doesn’t support direct transfer to the Everscale network.
Bridging WEVER tokens from centralized exchanges
The WEVER token is available on a number of centralized exchanges, such as Huobi, KuCoin, Gate, and so on. For example, using the KuCoin exchange, it’s possible to withdraw EVER tokens directly to an Everscale native wallet, i.e to EVER Wallet or Ever Surf.
However, not all exchanges have enabled this functionality yet and users have to withdraw WEVER tokens to the Ethereum network. We’d like to elaborate more on how to transfer the ERC-20 version of EVER directly to the Everscale network.
For the following actions, you will need a Metamask wallet and EVER Wallet installed on your device:
- Withdraw WEVER to your Metamask wallet (Ethereum address).
- Go to the Octus Bridge app.
- Connect your Metamask to the Octus Bridge app.
4. Connect your EVER Wallet to the Octus Bridge app.
5. Go to the “Bridge” section. In the section “From” choose the Ethereum network in the dropdown menu and click “Connect Wallet”. Please verify the sender address.
6. In the section “To” choose the Everscale network and click “Connect wallet”.
7. Verify the addresses and click on the “Next” button.
8. In the following menu, type “WEVER” and click on it in the dropdown menu.
9. Type the necessary amount you’d like to transfer and click “Next”.
Please note: For additional insurance in the blockchain, we strongly recommend you to transfer a test amount first if you are trying to perform an operation with Octus Bridge or any trustless and decentralized solution for the first time.
10. Click on the “Transfer” button.
11. Confirm the transaction in the Metamask wallet.
12. Click on the “Prepare” button. Wait for the relayers to process the transaction and confirm the release of assets
After releasing your WEVER tokens to the Everscale blockchain, you can simply unwrap them using this app (WEVER/EVER wrapper).
How to unwrap WEVER
- Go to the Everscale Token Wrapper. Click on the section “Unwrap WEVER” and connect EVER Wallet.
2. Click on the “Send” button and sign the message with your password.
Now you’re good to go, and you can participate in Boosted Staking or yield farming on FlatQube to earn more EVER tokens!
For more information about Octus Bridge, follow the Broxus community and stay tuned to updates.