Introduction

$Velar is a cross-chain token that exists on both the Ethereum and Stacks blockchains. This is to maintain Ethereum $VELAR as a trading token, and Stacks $VELAR as a utility token. Bridging $VELAR tokens allows users to move their tokens seamlessly between these two networks, enabling them to participate in decentralized applications (dApps) and ecosystems on both chains.

In this guide, we will walk you through the process of bridging your $VELAR tokens from the Ethereum chain to the Stacks chain. By following these steps, you can easily transfer your tokens and start using them within the Stacks ecosystem.

Bridging $Velar Token from Ethereum to Stacks Chain

If you currently hold your $VELAR tokens on an exchange, follow these steps to bridge them to the Stacks chain:

1. Withdraw $VELAR from the Exchange:

• Go to the withdrawal section on your exchange.

• Select the $VELAR ERC-20 token.

• Enter the withdrawal address of your EVM-compatible wallet (e.g., MetaMask).

• Confirm the withdrawal transaction and wait for the tokens to arrive in your wallet.

2. Set Up a Stacks-Compatible Wallet:

• Choose a Stacks-compatible wallet, such as Leather or Xverse Wallet.

• Create a new wallet or import an existing one using your seed phrase.

• Ensure that you have securely backed up your wallet's private key or seed phrase.

3. Access the Velar Bridge:

• Open your web browser and navigate to the Velar Bridge following this link.

• Connect your MetaMask wallet by clicking on the "Connect Wallet" button and selecting MetaMask.

• Connect your Stacks-compatible wallet (Leather or Xverse Wallet) by following the prompts.

4. Bridge $VELAR Tokens:

• On the Velar Bridge interface, select the "Ethereum to Stacks" option.

• Enter the amount of $VELAR tokens you want to bridge.

• Confirm the transaction in your MetaMask wallet.

• Wait for the bridging process to complete. This may take a few hours.

5. Verify the Bridged Tokens:

• Once the bridging process is finished, check your Stacks-compatible wallet to ensure that the $VELAR tokens have been successfully bridged.

• You should now see the bridged $VELAR tokens in your Stacks wallet balance.

Use the Velar Bridge for all transfers between ERC-20 and SIP-010. Sending Stacks (SIP-010) Velar directly to an Ethereum (ERC-20) address or exchange will result in a total loss of tokens. Always verify addresses and amounts, and secure your private keys. For assistance, consult Velar Bridge docs or our community support channels.

Please note that the current bridging fee is set at 30 $VELAR to cover the necessary ETH/STX gas fees. Keep in mind that transactions may take a few hours to complete, depending on network congestion and other factors.

Congratulations! You have successfully bridged your $VELAR tokens from the Ethereum chain to the Stacks chain. You can now use your $VELAR tokens within the Stacks ecosystem.

Please note that bridging tokens involves interacting with smart contracts and blockchain networks. Make sure to double-check the addresses and amounts before confirming any transactions. Additionally, keep your private keys and seed phrases secure at all times.

If you encounter any issues during the bridging process, refer to the official Velar Bridge documentation or seek support from the Velar community channels.