Binance Bridge v1
Last updated
Was this helpful?
Last updated
Was this helpful?
img
Peg-in procedure allows users to swap the native tokens to the equivalent of pegged tokens on Binance Chain or Binance Smart Chain. The following steps are taken:
The user creates a Swap Request to Binance Bridge Service Provider
Binance Bridge Service Provider allocates a deposit address
The user has to deposit the agreed amount of native tokens to this address. If the equivalent is not sent before the deadline, the native tokens are refundable.
Binance Bridge Service Provider will take notice of the upcoming transfer and send the equivalent pegged tokens to the receiver’s address
The user can see the change of his balance of these pegged tokens.
Binance Bridge Service Provider will lock the original tokens.
img
Peg-out procedure allows users to swap the equivalent of pegged tokens on Binance Chain or Binance Smart Chain to the native tokens. The following steps are taken:
The user creates a Swap Request to Binance Bridge Service Provider
Binance Bridge Service Provider allocates a deposit address
The user has to deposit the agreed amount of pegged tokens to this address. If the equivalent is not sent before the deadline, the pegged tokens are refundable.
Binance Bridge Service Provider will take notice of the upcoming transfer and send the equivalent native tokens to the receiver’s address
The user can see the change in his balance of these native tokens.
Binance Bridge Service Provider will lock the pegged tokens.
img
Go to Binance Bridge page, Click on “Connect Wallet”
img
Unlock your Binance Extension wallet or MetaMask to choose your destination address
img
Enter Swap Info
img
Wait for the deposit to finish
img
Transaction Result
Successful
img
Failed
img
Install Binance Extension Wallet or MetaMask
Go to swap page, click on the “Peg-out” tabClick on “Connect Wallet”
img
Unlock your Binance Extension wallet or MetaMask to choose your source address.
Please note that you can only exchange your assets on Binance Smart Chain to their equivalents. Make sure that you have switched to Binance Smart Chain network.
img
Enter Swap Info
Please make sure that:
The address is the one you control in the destinatioin blockchain.
The amount is above the minimium requirement
.
img
Confirm the swap amount.
Please note that the fixed amount of network fee will be charged for now. The actual amount you will receive is shown in the box.
img
You will have to transfer the exact amount of BEP20 tokens to an allocated address.
Please complete your deposit before the close time in a single transfer transaction.
img
Binance Chain Extension wallet will pop up a window for your approval.
Please double-confirm the destination address and amount.
To pay for the deposit transfer, you have to have enough BNB to pay for the network fee.
img
Wait for the network to confirm the transaction
As Binance Smart Chain's average block time is about 3s, you should see the confirmation very soon.
img
Mark your transaction hash in confirmation info, you can query the transaction in Binance Smart Chain explorer with the transaction hash.
img
Wait for Binnance Bridge Service to transfer native tokens to your address
Please note that this process can take some time according to different blockchains.
img
Double-check the balance of your destination address after the transaction is confirmed on the blockchain
img
