Bridging Process

OrdBridge Factory Contract

Token Transfer Process

OrdBridge enables transfer of BRC-20 tokens to ERC-20. Along with, it also enables users to get the BRC-20 tokens back on native chain by transferring ERC-20 to BRC-20

BRC-20 to ERC-20 Transfer

Below are the steps to migrate BRC-20 tokens to Ethereum

1. User initiates the transfer request by specifying the amount of BRC-20 tokens to be transferred.

1. We need to inscribe the custom 'transfer' inscription. It is backward compatible supported

1. Once inscribed, we need to transfer it to OrdBridge wallet

Given Unisat doesn't support regtest, we are showing the inscription id to be entered on testnet

1. The validators will wait for 2-3 blocks to get mine for security and avoiding double spending. You can close the tab and come back later after 30 mins approx.

2. Once the entry gets verified on bitcoin chain, we will see claim button

1. Upon clicking claim button, the txn will be sent to OrdBridge smart contract.

1. Viola! Wrapped ERC-20 tokens will be sent to your wallet. You can trade/consume them freely as any other ERC-20 tokens.

Note: It is crucial to ensure that the wallet used for the claim matches the one specified in the transfer inscription.

ERC-20 to BRC-20 Transfer:

1. User initiates the transfer by specifying the amount of ERC-20 tokens to be transferred.

2. OrdBridge validates the user's token balance and verifies the availability of the requested amount.

3. The user sends the txn on ETH blockchain to burn BRC-20 tokens and initiates the process of minting BRC-20 tokens.

4. OrdBridge waits for 15 blocks confirmation on the Ethereum chain (approximately 3-4 minutes) for transaction verification and security

5. Once the blocks are confirmed, the 'transfer' inscription is sent to the designated address (mentioned during smart contract call), initiating the transfer process of BRC-20 tokens to the user's wallet.

Note: The inscription transfer process requres gas fees to be borne by OrdBridge. Hence 0.01E fees is charged to user while sending ERC-20 tokens on ETH mainnet.