Friktion enables Cross-Chain deposits from Ethereum and Avalanche
by: Friktion Core Contributors
As DeFi ecosystems evolve across multiple Layer 1 blockchains, Friktion aims to enable users of any chain to access our risk-adjusted yield generation strategies — Volts.
Today we’re excited to launch cross-chain deposit support for Ethereum and Avalanche! Users can now bridge native assets from these chains to Solana and access Friktion’s strategies — powered by the Portal Bridge (by Wormhole).
Let’s demonstrate how you can get started with this new feature:
Step 1: Visit our website — https://app.friktion.fi/ and connect your wallet
Step 2: Select any Volt and assets that have cross-chain support (currently Volt#01: ETH & AVAX)
📗 Make sure to familiarize yourself with the risk and reward profiles of the Volts you’re using. Check out our Documentation and this YouTube Video.
Step 3: Select the option to Deposit from another chain (outside Solana). In this example, we will be choosing to deposit AVAX from the Avalanche chain!
If this is your first time using Friktion, feel free to drop any questions in our #support-question channel in Discord
Step 4: Connect your supported wallet (MetaMask in our example) — this will enable you will be able to see your native token balance on the Deposit button. With that, you will be able to deposit your assets into the volt by typing the amount or selecting MAX and then pressing the Deposit button.
Step 5: The bridging process (using Wormhole on the backend) comprises of multiple transactions:
Transaction 1: Block confirmation
Transaction 2: Verify Signatures
Transaction 3: Redeem Token
Carefully review and confirm the relevant prompts which pop up during the deposit process. If in doubt, drop us a message in Discord, we’re happy to help!
Step 6: Once the bridging process is completed, the bridged SPL tokens will be deposited into the Volt. The amount that you have bridged over should now be reflected under “Your deposits” — congratulations you’ve successfully bridged and deposited into Friktion! 🎉
Confirm your deposit status under “Your Portfolio” — note that per Friktion’s Epoch convention, all deposits will be pending prior to being deployed during the upcoming Epoch. You may cancel a deposit at anytime prior to the start of the upcoming Epoch!
About Friktion
Friktion is DeFi’s leading protocol for risk-managed yield strategies. Friktion’s 4 core products, known as Volts, are building blocks for portfolios that can perform across market cycles. The platform has amassed over 17,000 users and traded >$2bn in volume. The protocol’s mission is to enable access to long-term sustainable DeFi yields.
Learn more at app.friktion.fi
Still have questions? Find us in Discord!
Media Inquiries: Email us at team(at)friktionlabs.com
