Cross-chain deposits allow users to transfer assets between different blockchains using bridges like Stargate, a decentralized cross-chain bridge.
Currently, USDT can be transferred between chains, and more will be added over time.
If you want to deposit USDT from Polygon into the Stablecoins vault on BNB Chain to earn high interest, please follow the steps below:
Step 1: Click “Connect wallet” and link your wallet to Polygon or Ethereum to access USDT.
Step 2: Select the Stablecoins vaults and clicks "Deposit" button
Step 3: Approve USDT on Polygon for the transfer, please note - it can require gas fees and time.
Step 4: Enter the USDT amount for the cross-chain deposit.
To start the process, confirm the cross-chain deposit transaction in your wallet.
Note that the final USDT amount may be less than the initial amount due to a small Stargate bridge fee.
Bolide does not charge any fees for cross-chain transfers.
Step 5: Please wait for the transaction to finish automatically.
a) Depositing USDT tokens on the Polygon chain
b) Transferring USDT tokens from Polygon to the BNB chain via the Stargate bridge and depositing the USDT tokens into Bolide’s Stablecoins vault on the BNB Chain.
While waiting for the transfer to complete, you can monitor the status of the transaction via LayerZero scan for updates to ensure the process continues as expected.
The transfer may take up to 15 minutes.
Once the cross-chain deposit completes, you can view your deposit in the Stablecoins vault on BNB Chain and start earning high yield!
Please note - to make a claim or withdraw, you will need to switch to the BNB chain network.
These transactions require BNB to pay for gas fees.
Overall Cross-chain deposits open up more opportunities for users to put their assets to work.