By default, LEDU token, the native token of Education Ecosystem, is built on Ethereum Mainnet. Hence, LEDU is an ERC20 token. To stake LEDU, users have to swap LEDU ERC20 to LEDU BEP20 because the LEDU staking contract is built on the Binance smart chain.
This article is a step-by-step guide on bridging LEDU ERC20 to LEDU Bep20. By bridging, we mean converting a token standard to another. For instance, in our case, we are converting LEDU ERC20 to LEDU BEP20 to stake on the LEDU Staking program as on the LEDU staking guide here.
LEDU Bridge step by step guide
Below are how to use the LEDU ETH-BSC Bridge;
- Purchase some LEDU token from exchanges where it is listed. Ensure to use only the Metamask wallet address to receive the LEDU ERC20 you intend to bridge.
- Go to the LEDU staking page here.
- Click “Bridge” to display the ETH and BSC LEDU interface, where you can put the number of LEDU to convert.
- Connect your wallet, preferably Metamask, and follow the setup prompts.
- Deposit LEDU ERC20 on the Ethereum network and follow the prompt to confirm and approve as needed. Depositing LEDU on Ethereum mainnet simply sends your LEDU to the bridge. The LEDU will be held here, ready to convert to the LEDU BEP20 on the Binance smart chain.
- Withdraw LEDU BEP20. Having deposited LEDU ERC20 to the bridge through the Ethereum mainnet, you can withdraw it as LEDU BEP20 through the Binance smart chain. To do that, put the number of LEDU you are willing to withdraw through the Binance smart chain.
- Follow the wallet prompted message to confirm and approve the transaction.
Note
If you have have more than 1M LEDU and wants to swap you can save on the swap fees by writing email to: “[email protected]” and LEDU team will explain you further details (This VIP service is reserved for only transactions with minimum 1M transaction size)
Source: https://blog.educationecosystem.com/ledu-bridge-guide/
