How to Bridge your ALBT to bALBT in preparation for BNB/bALBT Liquidity Mining on Binance Smart Chain
Disclaimer: due to an already existing (small) BNB/bALBT pool on PancakeSwap we had to decide to deploy an ETH/bALBT pool instead. Please read the following instructions carefully in order to make sure you can participate in the pool correctly.
Following the successful and popular launch of our Alliance Block Liquidity Mining Program (v1.0) in November, the addition of the Balancer protocol in our v1.2 version immediately followed by the launch of the brand new AllianceBlock Liquidity Mining Partnership program together with Frontier which includes the first fully audited Multi-Asset Reward Liquidity Mining Partner Program, we are proud to announce that the AllianceBlock Liquidity Mining Program will soon be available on Binance Smart Chain (BSC) as well, using the PancakeSwap Protocol (make sure when visiting their website that you are visting https://pancakeswap.finance/, other URLs are likely scams).
Utilizing the exact same technology as the aforementioned LM Program, the BSC LM version is fully audited by CertiK, the leading cybersecurity expert in the industry, also AllianceBlock’s strategic partner.
Like with our Ethereum based LM program, you’ll need to have MetaMask installed in a WEB3 compatible browser (e.g. Chrome, Brave or FireFox). Besides that you will need to obtain BNB and bridge ALBT to bALBT in order to provide liquidity (BNB is also used to pay gas fees on the Binance Smart Chain network).
Configuring MetaMask to work on Binance Smart Chain Mainnet
Open MetaMask, click the network on top (most likely it will say Ethereum Mainnet):
Click on “Custom RPC” at the bottom of the list:
You will see the following form:
You are able to scroll through the form to see more input fields.
Enter the following information (or use the official Binance Doc as reference):
- Network Name: Binance Smart Chain Mainnet
- New RPC URL: https://bsc-dataseed.binance.org/
- Chain ID: 56
- Currency Symbol (optional): BNB
- Block Explorer URL (optional): https://bscscan.com
Click the “Save” button below to finish adding BSC to MetaMask.
You will now be able to switch between BSC Mainnet and ETH Mainnet (and other networks) simply using this button:
Obtaining BEP20 BNB
There are many ways to obtain BNB, and also many ways to get your BNB on Binance Smart Chain in BEP20. Here we will describe a common, easy to use way, assuming you have obtained BNB on the Binance Exchange.
Make sure to have your BNB Wallet address ready from MetaMask that you will use for Liquidity Mining on the BNB/bALBT pool. You can copy this easily by opening MetaMask and simply clicking on the address on top:
Then follow the following steps in order to get your BEP20 BNB out of Binance, into your MetaMask wallet:
- Login to Binance
- In the main menu, go to "Wallet" and then "Overview":
- Proceed with selecting the "Withdraw" button:
- On the Withdraw page, click on the dropdown under coin and enter "BNB" in the searchbar. Select the first one that's just called "BNB":
- Then on the right of the page, you will find a new form where you will need to enter information about the transaction you will need to make in order to receive the BEP20 BNB:
- On top, enter your wallet address you copied earlier (don't put 0x000…000 as in this example!)
- Then select BEP20 / Binance Smart Chain (BSC) as Transfer Network
- Finally, enter the amount of BNB you want to transfer to your wallet
- Finish by clicking Submit and follow the required confirmations that Binance will ask you
- It may take 15–30 minutes sometimes before your tokens will be visible in your wallet
Swap BSC BNB to BEP20 ETH
Due to an already existing (small) BNB/bALBT pool on PancakeSwap we had to decide to deploy an ETH/bALBT pool instead. If you have already obtained BNB in preparation for the BNB/bALBT pool, please use the PancakeSwap UI to swap (some) of your BNB to ETH in order to participate in the correct pool. You can follow the steps listed below in order to swap BNB to ETH.
If you want to try another way to obtain BEP20 ETH, or in case you want to double check to make sure you have the correct BEP20 ETH in your wallet or when you just need to add BEP20 as a custom token to your MetaMask, this is the correct token address of BEP20 ETH: 0x2170ed0880ac9a755fd29b2688956bd959f933f8.
- Go to https://pancakeswap.finance/
- Open Trade->Exchange in the menu:
- Click “Select Token” in the following menu:
- Make sure your MetaMask is set to the BSC Network
- Click the Connect Wallet button:
- Choose MetaMask and follow the steps in MetaMask in order to connect your wallet
- Proceed by clicking the “Select a token” button:
- Enter “ETH” (without the quotes) in the search bar
- And then click ETH:
- Enter the amount of BNB you want to swap to ETH and then click the Swap button:
- Then proceed to click the Confirm Swap button:
- Follow the steps in MetaMask to complete the transaction.
- You will now be presented with the following screen:
- Your ETH will be ready once the transaction is announced as completed by MetaMask.
Bridge ALBT to bALBT (BEP20) using Burgerswap
The native AllianceBlock Token (ALBT) is an ERC20 token. In order to use the BSC LM Program, you will need to bridge your ALBT tokens first to their BEP20 counterpart (bALBT).
Bridging ALBT to bALBT is easily done through Burgerswap. Once you are there, connect your wallet (MetaMask should immediately pop up when you open the page) and click “Bridge” in the main menu:
You might automatically arrive on the Bridge page if you have your network set to Ethereum Mainnet on MetaMask.
If you haven’t already, change your network (back) to Ethereum Mainnet in MetaMask (see previous chapter for more information). Using the bridge is fairly simple, you select the token (ALBT) with the amount you want to bridge to bALBT followed by three transactions through MetaMask.
Note: if you want to bridge your bALBT back again to ALBT, select Binance Smart Chain Mainnet as the network in MetaMask. The input fields of the Burgerswap’s Bridge page will automatically change to accommodate bridging your bALBT back to ALBT.
Step by step:
- Make sure to have your MetaMask network set to Ethereum MetaMask
- Click on “Choose token”
- Search for and select “ALBT”
- Enter the amount of tokens you want to bridge on the right of the selected token
- Click the “Approve” button
- MetaMask will pop up, click Confirm
- Click the “Create crosschain assets” button now
- MetaMask will pop up again, click Confirm once more
Once you see this, you are ready to claim your bALBT:
Now perform the following steps to finalize bridging your ALBT:
- Change your network to Binance Smart Chain Mainnet
- The page will automatically update
- Scroll down completely to the bottom of the page until “Transit record”:
- Click the “Receive” button
- MetaMask will pop up, click “Confirm”
- Wait for the transaction to complete
- Once the transaction is complete, you will not immediately see your tokens in your wallet.
- On the bottom it says “Copy contract address”, click that (or copy this: 0x72fAa679E1008Ad8382959FF48E392042A8b06f7).
- Now open MetaMask and go to Assets:
Next, scroll down in this list all the way to the “Add Token” button, and click that.
Click on Custom Token:
Paste the contract address you copied earlier (it should be 0x72fAa679E1008Ad8382959FF48E392042A8b06f7)
Click Next and then Add Tokens. You will now see your tokens in MetaMask!
Wednesday December 30th, we will open up the BNB/bALBT pool, and post a full tutorial on that too. Keep an eye out on our Medium and/or Telegram announcement channel!
AllianceBlock is building the first globally compliant decentralized capital market. The AllianceBlock Protocol is a decentralized, blockchain-agnostic layer 2 that automates the process of converting any digital or crypto asset into a bankable product.
Incubated by three of Europe’s most prestigious incubators: Station F, L39, and Kickstart Innovation in Zurich, and led by a heavily experienced team of ex-JP Morgan, Barclays, BNP Paribas, Goldman Sachs investment bankers, and quants, AllianceBlock is on the path to disrupt the $100 trillion securities market with its state-of-the-art and globally compliant decentralized capital market.