Are you interested in transferring funds from the Ethereum blockchain to the expansive Cosmos ecosystem without having to go through a Central Exchange? Our step-by-step tutorial will guide you…
We assume that you already have installed Metamask and have funds in ETH asset. This tutorial will help you to use two wallets – Keplr and Metamask – to transfer your funds. If you’re not sure how to install Keplr, don’t worry, as we have a detailed guide available that can take you through the process step by step.
Now, let’s begin!
1 – Gravity Bridge Interaction
Go to this page : Gravity Bridge Webpage
2 – Connect your Metamask Wallet
Now you are connected to Ethereum Mainnet to Gravity Bridge’s website.
3 – Connect your KEPLR wallet
Then, a popup will appear, asking you to approve the Gravity Bridge Network to your wallet KEPLR.
With both wallets now connected, we can move forward with the transfer process. For this example, we will be transferring native ETH from Ethereum to Gravity Bridge, although there are several other blockchains you can choose from, including Osmosis as shown below.
Once you have selected the ETH asset, you will notice a “WRAP” button for your ETH. This step is crucial in order to proceed with the transfer, but don’t worry, the on-screen instructions will guide you through the process.
4 – Wrap ETH
As mentioned, you will need to convert your ETH into Wrapped ETH (WETH), which will require a transaction. Simply follow the instructions provided and once you approve the transaction, your WETH token will be delivered to your wallet.
Once your wallet has successfully received the Wrapped ETH (WETH), you can then proceed with the transfer process. You will need to select the exact amount of WETH that you wish to transfer. Simply enter the amount of WETH you want to transfer, double-check to make sure everything is correct, and then confirm the transaction to initiate the transfer.
Before proceeding any further, it is important that you open your wallet KEPLR, and ensure that you have selected the Gravity Blockchain on the top menu. It is essential to verify that the address displayed in your KEPLR wallet matches the transfer address shown on the Gravity Bridge website, as shown below. Double-checking this information will help ensure that the transfer is successful and that your funds are sent to the correct recipient. Failure to verify the address could result in the loss of your funds, so take the time to confirm that everything matches before proceeding.
5 – Give permission to transfert WETH
Before you can send your funds through the bridge, you will need to sign a transaction that authorizes the protocol to move your funds. This is a necessary security measure that ensures that only the rightful owner of the funds can initiate the transfer. When signing the transaction, make sure to review all the details carefully and verify that everything is correct. Once you have confirmed that everything is accurate, sign the transaction to authorize the protocol to initiate the transfer of your funds. After the transaction has been signed, the bridge will be able to move your funds securely across the selected blockchain network.
6 – Make the transfer
Once you have completed the necessary steps, it is time to approve the transfer. This will involve executing a new transaction, which will finalize the process and initiate the transfer of your funds. It is important to carefully review all the details before approving the transfer, as once the transaction has been executed, it cannot be undone. If everything looks correct, go ahead and approve the transfer to complete the process.
After you have approved the transfer, it may take some time for your funds to be fully processed and ready to trade on the other side of the Gravity Bridge. Typically, this process can take anywhere from 15 to 20 minutes, although it may take longer in some cases. During this time, it is important to remain patient and refrain from attempting to initiate any additional transfers or trades. Once your funds have been fully processed and are available for trading, you will receive a notification or update from the platform.
Congratulations! You have successfully transferred your funds and entered the Cosmos ecosystem. As a result, you now have access to a wide range of innovative features and functionalities, and there are countless exciting opportunities waiting for you to explore. The Cosmos ecosystem is brimming with cool and exciting things to discover. So get ready to immerse yourself in this amazing world, and start exploring all the possibilities that the Cosmos has to offer!
This is a view of the Cosmos Ecosystem
To trade your WETH from gravity Bridge, go to Osmosis Frontier Website and start trading.
Click on the button SWAP from the left menu :
WETH -> ATOM
ATOM -> GRAV
If you want to know more about Gravity Bridge : Read our Orange Paper
if you want to learn how to stake your token GRAV : Check it out Now!
To sum up :
In summary, this tutorial has provided you with a comprehensive guide on how to transfer funds from the Ethereum mainnet to the Cosmos Ecosystem in a completely trustless and secure manner, with no intermediaries involved. However, it is important to note that using the Gravity Bridge platform does come with some transaction fees, so it is advisable to transfer a significant amount to ensure that the fees do not exceed 10% of the total value of the funds being transferred. In our example, a total of 3 transactions were executed with gas fee.
- Wrap ETH to Wrapped ETH asset
- Approve WETH to be transfered by protocol
- Approve the transfer
Once you have approved the Wrapped ETH (WETH), you will not need to execute this transaction again in the future, even if you decide to use the bridge for additional transfers. This means that the process of approving the WETH is a one-time requirement (except if you revoke it manually).
When compared to other options, the Gravity Bridge platform is currently the most cost-effective solution for transferring funds from Ethereum to Cosmos. We have conducted a simulation to compare the cost of using Gravity Bridge to transfer funds directly through Osmosis. It clearly indicate that using Osmosis to transfer funds will result in double the price in gas fees, making it a much more expensive option.
It is worth noting that the process of transferring funds from the Cosmos ecosystem back to Ethereum is also possible using the same procedure outlined in this tutorial. Simply follow the steps in reverse order, and you can securely and easily transfer your funds back to the Ethereum blockchain through the Gravity Bridge platform.
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