Bridge/Multichain Functionality
Use Abracadabra Magic on different chains!
Last updated
Use Abracadabra Magic on different chains!
Last updated
Bridge MIM Tokens directly on Interface thanks to !
Select the chain you want your MIM bridged from on the left, and your arrival chain on the right.
Input the amount of MIM desired and hit the "BRIDGE" button!
Bear in mind that all the bridge transactions are managed by the Anyswap Network. Delays on large sums may happen, but transactions always go through! Thanks for your patience!
Each one of these parameters is network-specific, and will vary depending on the arrival chain!
Maximum Bridgeable Amount - Maximum amount that can be sent in one single transaction.
Minimum Bridgeable Amount - Minimum Amount required to bridge tokens.
Bridging Fee - Fee required to bridge your tokens.
Minimum Bridging Fee - Minimum Fee required to bridge tokens.
By clicking on the Purple Button on the left side of the "DASHBOARD", users will be able to select the network on which they want to use Abracadabra.
Currently, Abracadabra lending markets are only available on Ethereum Mainnet, Fantom Opera, Binance Smart Chain, and Avalanche. Our Bridge also allows sending MIM to Arbitrum L2! To check what collaterals are available on each chain simply click on "BORROW" and check the list.
Note that Abracadabra is coming to other chains as well (we are targeting Matic as of right now), but we'll keep this list as updated as possible!
Bridges are smart contracts that allow users to move their tokens across different chains! Let's dive into how the bridges work for our platform and its tokens!
Let's now dive into this process, and use a MIM bridging ETH --> FTM as an example:
Users send ETH MIMs to the bridge contract on ETH, which locks the tokens. Anyswap bridge mints and releases a wrapped version of the same token on FTM, sending it to the user wallet on FTM. Bear in mind that those two tokens might have different addresses! For every FTM MIM in circulation, there is one ETH MIM locked in the bridge! This allows us to easily track the circulating supply, as all the tokens on every different chain have 1 token locked on the native chain (In our case Ethereum)!
When bridging back, FTM MIMs are sent to the bridge, burned, ETH MIMs are released back on Mainnet and sent to the user wallet on ETH!
On Arbitrum, we have two different bridges: Anyswap Network and Arbitrum official bridge.
If we bridge MIM using these tho bridges, we will get different MIM tokens on Arbitrum, with two different addresses. The only official $MIM tokens on Arbitrum are obtained using Anyswap! If you bridge via the Arbitrum bridge you will receive L2MIM and will have to bridge back to Ethereum to get MIM
With SPELL tokens, on the other hand, we use Abritrum bridge. This is the only token not bridged through Anyswap!
On Ethereum Mainnet, the MIM contract address is:
On Binance Smart Chain, the MIM contract address is: On the Fantom Opera Network, the MIM contract address is:
On the Avalanche Network, the MIM contract address is:
On Arbitrum, the MIM contract address is (bridge MIM using anyswap to arbitrum): Please note that our bridging system for Arbitrum works exactly the same as the bridges for other chains: MIM tokens are locked in a Smart Contract on the ETH side, and minted on Arbitrum. When bridging back from Arbitrum, MIMs are burned on the L2 and released from the smart contract on Ethereum Mainnet!
On Ethereum Mainnet, the SPELL contract address is:
On Fantom Opera, the SPELL contract address is:
On Avalanche Network, the SPELL contract is: On Arbitrum, the SPELL contract is (get it using the official arbitrum bridge):
Our tokens are minted on Ethereum Mainnet, and are then bridged towards other chains. In order to bridge tokens, users are required to send them on one chain and receive a wrapped version of the same token on another chain (or L2 solution). To do so, we can use particular infrastructures called bridges. There are different kinds and brands of bridges, but we use mainly to bridge both MIM and SPELL tokens, with only one exception: SPELL on Arbitrum.
