Connext and its new xERC20 standard allow holders to resume RADAR bridge operations
DappRadar has integrated with Connext, deploying the new xERC20 bridging standard. This means that you can once again bridge RADAR tokens between Ethereum and BNB Chain. The DappRadar DAO community approved the transition to Connext as our bridging partner, adding an extra security level to all bridging operations.
Content
- How to bridge RADAR between Ethereum and BNB Chain
- The Multichain issue and our solution
- Why Connext and how it will work
- Join our Forum and participate in discussions
How to bridge RADAR between Ethereum and BNB Chain
Bridging your RADAR tokens from BNB Chain to Ethereum, and vice versa, is now a simplified and safer process. Operations take place on Connext’s interface.
- Go to Connext
- Select your source blockchain (from) and destination (to)
- And specify how much RADAR you want to send
The Multichain issue and our solution
Previously, DappRadar used Multichain Bridge to enable bridging between Ethereum and BNB Chain. Multichain halted their bridging activities in July 2023, and because of that situation, RADAR tokens locked on Ethereum and bridged to BNB Chain could no longer move back.
This led to unity between DappRadar DAO members, taking the following steps to resume bridging operations:
- Allocation of RADAR tokens from our Treasury to resume ETH <> BNB Chain operations
- A contingency plan in the event that access to RADAR tokens is returned
- Deployment of Connext as a new bridge for users to continue bridging tokens from ETH to BNB Chain
Once approved by the DappRadar community, our team started working closely with Connext to test the bridge capabilities.
With this launch, all your RADAR on BNB can move freely back to Ethereum, thanks to the decisions by the DappRadar DAO.
Why Connext and how it will work
Out of multiple bridge providers out there, DappRadar saw Connext as a valuable partner.
Importance of xERC20 and security
Connext has been around in Web3 for a while and has a trusted team with a track record of no exploits or hacks. And while nothing makes a bridge 100% secure, Connext’s xERC20 adds an extra security level to bridge operations.
Router makes it faster
The current RADAR smart contracts will remain as they are (ERC20 RADAR on Ethereum and on RADAR on BNB Chain).
But we also added a router to make the bridging faster. This way, users won’t wait for long hours to complete their transfers.
CredShields smart contract audit
Although Connext had its own audit, DappRadar added additional security measures to the xERC20, Lockbox and Factory smart contracts.
DappRadar had Connext’s bridge smart contracts audited by CredShields. As there were no vulnerabilities that threatened its operation, it passed and our team proceeded with the integration.
Join our Forum and participate in discussions
Learn more about how we’re deploying Connext and continue tracking this integration by reading the Forum post that DappRadar and Connext wrote together.
