- Osmosis connects to Ethereum through two bridges: Axelar (satellite.money) and Gravity (bridge.blockscape.network). Using different bridges results in different token contracts on Osmosis, so if you want to send back to Ethereum, you need to use the correct bridge. That is, if you have USDC.grav on Osmosis, you need to bridge it back to Ethereum with the Gravity bridge, not Satellite.
- If you search for USDC or USDT in Assets or Pools, you will notice that there are two different icons of each that represent either Satellite-bridged or Gravity-bridged. Clicking on deposit for 'USDT - Ethereum' will bridge it through satellite.money, converting it to axlUSDC in the process. Clicking Deposit for USDT.grav will take you to the Gravity bridge site.
- It is important to note that since these tokens have different contracts, the amount of liquidity for each will vary. Searching the Pools page for USDC, you will notice that axlUSDC has far more liquidity than USDC.grv.
You might choose a different bridge depending on your reason for sending USDC from Ethereum to Osmosis. If you are sending it to trade, higher liquidity is more desirable, but as a liquidity provider, lower liquidity can mean higher rewards. Lower liquidity also brings more arbitrage opportunities.
- If you have chosen to use the Gravity Bridge, navigate to bridge.blockscape.network. In this example, we will be bridging USDC from Ethereum, after checking and discovering that it has the highest liquidity and volume of the gravity-bridged tokens on Osmosis.
Connect your Metamask and Keplr wallets. The default setting is to bridge your tokens to the Gravity Bridge address in your connected Keplr wallet, which you can double-check by opening Keplr and changing the drop-down option to Gravity Bridge chain.
- You can also bridge directly to Osmosis, which we will do here. It is possible to change the receiving address by clicking on the lock icon and pasting your desired receiving address. If you do not change it, it will remain as the Osmosis address in your connected Keplr wallet.
Once you have the correct destination address, choose your token and quantity to bridge from Ethereum. Like with other Ethereum transactions, you will first need to give permission for the app to access your USDC and then approve a second transaction for the actual transfer.
- After approving permission to access, press Begin Transfer. It will give you a final notice and then you will approve the bridge transaction.
- After approving the second transaction in Metamask, the bridge site will show a Transaction complete pop-up. Here you will find a link to your bridging transaction history page so you can follow the block confirmations.
- When the transaction history page shows a tick✔️ in the Status column, you will be able to see your grav-wrapped token in Keplr, and on the Osmosis assets page (after refreshing) if you bridged to Osmosis!