DeCommas Integration with Portal by Wormhole
The DeCommas platform is excited to announce a new feature — direct integration of the Portal bridge by Wormhole, which allows the transfer of tokens between Ethereum and Solana. Previously, our platform only hosted information about popular blockchain bridges, meaning it was an aggregator of available platforms. Now, however, DeCommas users will be able to transfer their tokens between different blockchains without having to leave our website.
What is Portal by Wormhole?
Wormhole is a decentralized message passing protocol that connects several high value blockchains, allowing the transfer of arbitrary messages and assets between them. Wormhole currently operates a bridge called “Portal”, which can be used to transfer wrapped assets between the blockchains and perform similar transactions with NFTs.
Wormhole V1 was created in October 2020 by Certus One in collaboration with independent developers to provide a bidirectional token bridge between Ethereum and Solana. Over time, as the team observed an increasing demand by the community, the decision was made to integrate more blockchains. As a result, the Wormhole network, a cross-chain communication protocol, was launched in August 2021. In early 2022, the Wormhole team decided to introduce a clear distinction between the protocol itself (Wormhole) and the bridge (Portal). Thus, the bridge functions are now associated with Portal in particular, rather than as one of the components of a larger Wormhole protocol.
The ‘Portal Bridge’ does not “transfer” tokens directly. Instead, assets on one blockchain are locked into the project’s smart contract, and wrapped versions are issued on the “destination” blockchain. The entire process of transferring tokens across the bridge can be divided into four steps:
- Step 1. Connecting the wallet and choosing the direction of the exchange;
- Step 2. Choosing a wallet that serves as the destination for the tokens;
- Step 3. Sending tokens;
- Step 4. Confirming transactions and withdrawing tokens on the desired blockchain.
Prior to the Portal integration, one had to connect the wallet to the project’s website in order to transfer assets via the bridge — but now, the crosschain exchange process is even faster and more convenient than ever before.
Using the ‘Portal Bridge’ with DeCommas
DeCommas aims to be a convenient and useful platform that can serve as a handy toolkit for blockchain users, namely the Solana ecosystem users. As of recently, Portal by Wormhole is now directly integrated into our platform! For the most popular Solana ← → Ethereum transfer direction, you no longer need to connect your wallet directly to Portal each time you enter from the DeCommas website.
The bridge is already available and every DeCommas user can take advantage of its convenience, speed and lucrativeness. To do so, simply connect your Solana wallet to the platform, open the Wormhole page and follow the steps below:
- Select the direction of the exchange (from Solana to Ethereum or vice versa). Select the token to be transferred and enter the desired amount.
Please note that at the moment, only USDC is available for transfer.
- As you are prompted to the next page, connect the wallet to receive tokens;
- Wormhole will display the fee, which will be deducted from the recipient’s wallet;
- The next step is to create a wrapped version of the USDC to be transferred. It’s ideal to do this using the DeCommas interface, because when you do, you won’t have to pay significant gas fees on the Ethereum network when unwrapping tokens. At this stage, you will also need to sign the transaction with the wallet you are transferring tokens from;
- The final step is to withdraw the tokens on the recipient network (in this case, Ethereum).
If, for whatever reason, you have left the transfer process unfinished, you may come back and continue at any time by clicking the Redeem button.
Note that you can now quickly transfer USDC between two blockchains while saving on the fees associated with the creation of a wrapped version of the stablecoin.
Take advantage of Portal directly from the DeCommas interface today!