Thread by @Momentum_6

Getting to other chains early is key to success in #DeFi. The best yields are not on the biggest chains.

Bridging $ can be intimidating, confusing and expensive.

Here are the best methods we've found to bridge assets from / to any chain 🧵 👇

$SOL $MATIC $NEAR $FTM $LUNA $ONE

1/

For some background info, EVM chains like $ETH, $AVAX, $FTM, $MATIC, $BSC, $ONE, $AURORA are compatible with @MetaMask.

Non-EVM compatible chains include:
- $LUNA
- $SOL
- $ATOM
- $DOT
- $BTC

These chains can not be used with Metamask, you need different wallets.

2/

1. From a centralized exchange

Using a centralized exchanges like @Binance, @kucoincom, @gate_io etc is often the easiest way to bridge assets.

They allow withdrawals between many chains, and you can swap tokens without gas.

See @shivsakhuja thread:

https://twitter.com/shivsakhuja/status/1467939603680149505

3/

2. Bridging between EVM chains

@SynapseProtocol is a great bridge for transferring to and from:
• $ETH
• $AVAX
• $ONE
• $MATIC
• $FTM
• $BSC
• $MOVR
• $AURORA
• Arbitrum
• Optimism

The user experience is great and the funds bridge pretty quickly. Fees are ~0.1%.

4/

Steps for using @SynapseProtocol.

1. Go to synapseprotocol.com

2. Connect your MetaMask wallet

3. Select an asset, source chain and destination chain

4. Approve and Bridge

Funds will be bridged in a few minutes.

5/

3. Bridging to / from Terra $LUNA 🌖

@terra_money's bridge @ bridge.terra.money works pretty well.

You can bridge from $ETH, $BSC or $ONE.

I avoid $ETH gas fees like the plague for most transactions.

Terra bridge charges 0.1% or $1 - whichever is greater. Not bad.

6/

Say you want to bridge $1000 from $MATIC to $LUNA, you could:

1. Use @SynapseProtocol to bridge from $MATIC to $BSC (~$3 fee)

2. Then use bridge.terra.money to bridge from $BSC to Terra $LUNA (~$1 fee)

Alternatively, you could just use a CEX as described in part 1.

7/

4. Bridging to / from $BTC ฿, $SOL Solana, Terra and EVM chains

@Allbridge_io allows you to bridge to and from:
• $BTC
• $SOL
• EVM Chains

Fees are ~0.5% - higher than @SynapseProtocol, but you can reduce it by holding their $ABR tokens.

8/

5. Bridging to / from $NEAR

You can use Rainbow Bridge to bridge between $ETH, $NEAR and $AURORA.

To bridge to NEAR, you could:

1. Bridge from source chain to Aurora using @SynapseProtocol or @Allbridge_io.

2. Then bridge from Aurora to NEAR.

Must avoid ETH gas fees 😬

9/

6. Bridging to Cosmos 🪐

To do this, you'll need funds in $BSC or $LUNA chain

1. Use the above methods to get your $ to Terra.

2. Then use bridge.terra.money to bridge $UST from Terra to Osmosis.

3. Swap $UST for $ATOM

4. Withdraw $ATOM from @osmosiszone

10/
7. Another multichain bridge..

You can also use @evolution_bsc to bridge between EVM chains, $SOL and $BTC.

They even send you a small amount of tokens to help with the gas costs.

It's also very user friendly, allows you to send $USDC or $USDT,

11/

Note that EvoDefi allows you to bridge TO $BTC and $SOL, but not FROM $BTC and $SOL.

EvoDefi supports more EVM chains than
@SynapseProtocol or @Allbridge_io, but has higher fees than @SynapseProtocol.

Fees are 0.5% + ~$1

12/

These are the best methods I've found for bridging assets to and from various chains.

Sometimes you might need to mix and match..

Bridging is a really tedious process currently imo, and a big hurdle for new users.

Hopefully this 🧵 helps.

13/

If you find this overwhelming, remember that the yields in DeFi are high only because it's too complicated for most people.

Push yourself to learn about #DeFi and to experiment with it, so can capitalize on these yield opportunities while they last.

#WAGMI

✍️: @shivsakhuja

Like / RT / Follow for threads about #crypto and #DeFi.

Let us know if you know of easier / cheaper / faster ways to bridge.