How to bridge to zkEVM
TL;DR: Enjoy seamless one-click, one-transaction, cross-chain asset bridging on 0VIX thanks to the new cBridge integration! If you’re not sure how, scroll to the end of the article.
As you have undoubtedly noticed by now, 0VIX has been tirelessly pioneering zkDeFi and leading the zkEVM revolution as the first-ever protocol to deploy on zkEVM. Fun fact, it was 0VIX that received Vitalik’s legendary on-chain message, sent out during Polygon’s zkEVM launch day live stream. Never known to rest on its laurels, 0VIX today reached another milestone on the road to a truly interoperable DeFi future. Drumroll please!
0VIX is super excited to announce the 0VIX-Celer partnership and the successful integration of cBridge-powered asset bridging layer into 0VIX. Celer’s cBridge is a decentralized and non-custodial, asset-bridging technology that supports 140+ tokens across 40+ blockchains and layer-2s, such as Polygon’s zkEVM.
With the integration of cBridge on 0VIX Protocol, all 0VIX users can now seamlessly and securely bridge to Polygon zkEVM within the 0VIX app. All in a single, one-click, low-cost transaction!
Have you joined the purple wave and onboarded to zkEVM yet? If you haven’t, check out the step-by-step instructions below.
How to onboard to zkEVM
First, add the zkEVM network to your wallet. You can do that directly with 0VIX. Go to https://app.0vix.com, connect your wallet, click on “zkEVM Mainnet” at the top-right corner and confirm the pop-ups — you are set now!
How to bridge
Now that you have the zkEVM Mainnet network in your wallet, let’s move onto the next step — getting some funds bridged to zkEVM.
In this example, we will bridge ETH from Ethereum to zkEVM. However you can bridge from many other chains including, Arbitrum, zkSync, Polygon PoS, & Binance Smart Chain.
- Go to https://app.0vix.com/bridge and choose “Ethereum Mainnet” as the “From” chain and “Polygon zkEVM” as the “To” chain
2. Enter the amount of ETH that you’d like to bridge. For this walkthrough guide, the amount will be 0.2 ETH.
You will then see the approximate amount of ETH to receive on Polygon zkEVM.
3. Click on “Transfer” and then, after reviewing the details, click on “Confirm Transfer”.
You will get a pop-up from MetaMask with a prompt to pay the gas fee (make sure to leave some ETH in your wallet for that).
Afterwards, you should be good to go! Wait until the transfer is completed and you should receive it on Polygon zkEVM.
How to deposit assets on 0VIX on zkEVM
Now that you are on Polygon zkEVM, time to put your assets to work! Are you looking for lending or borrowing, or just simply parking your assets for juicy yields? As the zkDeFi leader, 0VIX has more than $1M TVL spread across $ETH, $USDC, $USDT and $MATIC — the four main assets on zkEVM!
Everyone can simply supply any of these four assets on 0VIX to earn great yields without any impermanent loss or liquidation risks:
$ETH: 4.4% APY
$USDC: 2.6% APY
$USDT: 1.8% APY
$MATIC: 0.6% APY
Try it for yourself with the following steps:
- Go to https://app.0vix.com and Connect your wallet in the top right corner
2. Pick the asset you’d like to supply by clicking on the asset, in this case ETH (which you have bridged over in the previous step), and then click on the Supply button
3. Fill in the amount of ETH you’d like to supply and click on “Supply”.
4. Confirm all of the necessary MetaMask prompts and you should be good to go!
5. If you would like to borrow any assets, the process is similar, but please keep in mind the liquidation risks that are there if you borrow different assets from your collateral.
All clear? Start enjoying the one-click, one-transaction, cross-chain swap feature on 0VIX now! Seamlessly bridge to zkEVM with the newly integrated cBridge widget on https://app.0VIX.com!
Join the Discord if you have any further questions: https://discord.com/invite/0vix
Note: As Polygon zkEVM is still relatively new, the maximum size of the new $ETH liquidity pool on cBridge is limited to 100 $ETH. This is to cap the risk exposure of liquidity providers to the new ecosystem. According to Celer, these strategies and limits will be revisited over time.
About Celer Network
Celer is a blockchain interoperability protocol enabling a one-click user experience accessing tokens, DeFi, GameFi, NFTs, governance, privacy solutions and more across multiple chains. Developers can build inter-chain-native dApps using the Celer Inter-chain Message SDK to gain access to efficient liquidity utilization, coherent application logic, and shared states. Users of Celer-enabled dApps will enjoy the benefits of a diverse multi-blockchain ecosystem with the simplicity of a single-transaction UX, all from a single chain.
0VIX is the first veTokenomics lending market on the zkEVM with dynamic interest rates on Polygon. 0VIX is leading a new standard of risk measurement powered by world-class tech and R&D. It focuses on providing stable and sustainable yields across Polygon’s multi-chain solution Supernets supporting DAOs, Enterprise and FinTechs. Founded by an experienced DeFi and FinTech team, the 0VIX protocol aims to bring billions of dollars of liquidity to DeFi with crypto native as well institutional focus.
Not financial or tax advice. This blog is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This blog is not tax advice. DeFi and the overall Crypto space are still developing and there are risks involved in engaging with them. Talk to your accountant. Do your own research.