Welcome gamers and crypto lovers, Avaxholic is happy to share that Friktion Launch Cross-Chain Deposit Support For Ethereum And Avalanche. So let explore it in today’s article!
Cross-Chain Deposits Now Enabled
Today we’re excited to launch cross-chain deposit support for Ethereum and Avalanche! Users can now bridge native assets from these chains to Solana and access Friktion’s strategies
powered by the Portal Bridge (by Wormhole).
As Layer 1 blockchains for DeFi ecosystems develop, Friktion wants to make it possible for users of any chain to use our risk-adjusted yield generating algorithms.
Let’s Demonstrate How You Can Get Started With This New Feature
Step 1: Visit our website — https://app.friktion.fi/ and connect your wallet
Step 2: Select any Volt and assets that have cross-chain support (currently Volt#01: ETH & AVAX)
Step 3: Select the option to Deposit from another chain (outside Solana). In this example, we will be choosing to deposit AVAX from the Avalanche chain!
If this is your first time using Friktion, feel free to drop any questions in our #support-question channel in Discord.
Step 4: Connect your supported wallet (MetaMask in our example) — this will enable you will be able to see your native token balance on the Deposit button. With that, you will be able to deposit your assets into the volt by typing the amount or selecting MAX and then pressing the Deposit button.
Step 5: The bridging process (using Wormhole on the backend) comprises of multiple transactions:
- Transaction 1: Block confirmation
- Transaction 2: Verify Signatures
- Transaction 3: Redeem Token
Step 6: Once the bridging process is completed, the bridged SPL tokens will be deposited into the Volt. The amount that you have bridged over should now be reflected under “Your deposits” — congratulations you’ve successfully bridged and deposited into Friktion!
Friktion is DeFi’s leading protocol for risk-managed yield strategies. The four essential Volts products from Friktion serve as the foundation for portfolios that may perform well across market cycles. The platform now has over 17,000 users and transacted over $2 billion worth of volume. The protocol’s goal is to make long-term sustainable DeFi yields accessible.
All information here is for reference only, not investment advice. Hopefully, the information that Avaxholic has gathered in the article will be useful to you.
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