Friktion Launch Cross-Chain Deposit Support For Ethereum And Avalanche

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)

Friktion Launch Cross-Chain Deposit Support For Ethereum And Avalanche
 Make sure to familiarize yourself with the risk and reward profiles of the Volts you’re using

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.

Friktion Launch Cross-Chain Deposit Support For Ethereum And Avalanche
Select Deposit from: AVAX

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.

Friktion Launch Cross-Chain Deposit Support For Ethereum And Avalanche
Connected non-Solana wallet state

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
Friktion Launch Cross-Chain Deposit Support For Ethereum And Avalanche
MetaMask approval dialog
Friktion Launch Cross-Chain Deposit Support For Ethereum And Avalanche
Phantom approval dialog
Friktion Launch Cross-Chain Deposit Support For Ethereum And Avalanche
Successful Bridge

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!

About 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.

Website: https://t.co/vrCIhaoVTg

Twitter: https://twitter.com/friktion_labs

Discord: https://t.co/q1h744Zw8j

Medium: https://friktionlabs.medium.com/

Conclusion

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.

Join the Avaxholic chat group now to discuss the hot issues of the DeFi market with the Avaxholic admin team!!!

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