In case you haven’t yet, please read this blog post, in order to get the full picture of how RSK/Ethereum Token Bridge can be of use when trying to use Ethereum ERC20 tokens in times of high network fees.
In order to have your Ethereum tokens on RSK network, or the other way round, you need to (not really, but it’s the easiest way) use the Token Bridge own frontend. The interface is pretty self-explanatory, but we’ll skim through it anyway. As an example, we’ll follow the steps needed to swap DAI for rDAI using Defiant, which allows you to access every Ethereum or RSK dapp via WalletConnect. So first we’ll dive into how to configure our wallet in Defiant, and after that we’ll see how to effectively use the Token Bridge.
Setting up your Defiant wallet
In order to use the Token Bridge as in this example, we need to:
- Have a wallet with DAI (or any other Ethereum token with an existing RSK equivalent) in Defiant.
- Be able to see our rDAI balance (even if it is zero) in your wallet, with the same address as your DAI one.
This is something many Defiant users can handle. If you have already done this, feel free to move on to the instructions on how to use the Token Bridge.
If you don’t, you can check out this tutorial for a complete guide on how to achieve this.
Using the Token Bridge
- First of all, we need to go to the Token Bridge in your browser.
- On the top right there’s a button to connect the dapp with your wallet. We can choose Metamask (which is also the right option for Nifty), or WalletConnect. For this purpose, we’ll choose WalletConnect
- With Defiant in your mobile phone, we find the WalletConnect feature and tap on New connection.
- In the following screen, we need to:
- Choose which of your wallets (since Defiant lets you have many) you want to connect to the dapp.
- Set Ethereum as the network.
- Tap OK.
- Then, we have to scan the QR code that the Token Bridge displays with our mobile phone. Defiant will confirm that a new connection has been created, and so will the web, maybe a couple of seconds later. We should also see that our Ethereum address appears on the left-upper corner of the screen.
- Later, on the left side of the swap module in the Token Bridge web, we shall choose DAI, and rDAI will be automatically set on the other side.
- We can then input the amount of DAI to swap (lower or equal than our DAI balance).
- If it’s your first time using this pair, you’ll need to perform an approval. So let’s click on that button, which will send a transaction for you to sign it using Defiant.
- Once you receive the message in Defiant, check it, and tap on Approve in order to sign it.
- Wait until the transaction is mined.
- After that, we need to repeat the process with Convert tokens button: click on it, sign it (approve it) in Defiant, and wait for the operation to be mined.
- Now, we’ve done everything we needed to. The Token Bridge needs 24 hours to safely confirm transactions on the blockchain. Tomorrow by this time, we’ll have our rDAI in our RSK wallet in Defiant.
Twelve steps… seems like a lot. But fear not! Once you have accomplished them for the first time, it’s a piece of cake. And you can start reaping the benefits of having your beloved tokens on a network in which you’ll pay a tiny portion of the fees you’d otherwise suffer.