What is the Cudos Bridge?
The Cudos Bridge is the tool for migrating assets between the Ethereum and the Cudos blockchains. Users are free to move them in either direction.
Staking is only available on Cudos native blockchain. If you have ERC-20 CUDOS, the bridge will allow you to migrate your assets to the Cudos network, where you can then stake and earn rewards.
How does the Cudos Bridge work?
User sends 1000 CUDOS to the Gravity.sol smart contract on Ethereum, specifying an address on the Cudos Network that should receive the tokens.
Validators on the Cudos chain can see that this has happened and mint 1000 CUDOS on Cudos Network for the specified address. CUDOS can then be sent to other addresses on the Cudos Network, in Cosmos applications, or transferred to other Cosmos chains via IBC.
To go back to Ethereum, the user would send the CUDOS to Gravity module on the Cudos Network chain, specifying the address on Ethereum that should receive it.
The Cudos validators burn the CUDOS on the Cudos Network, and send an Ethereum transaction causing the Gravity.sol contract to unlock the 1000 CUDOS and send it to the specified Ethereum address.
How do I migrate my CUDOS using the Cudos Bridge?
To migrate your Cudos, you will first need to select the direction you want to send your Cudos, either from Ethereum ERC-20 to Cudos native or from Cudos native to Ethereum ERC-20.
Simply set your ‘transfer from’ to Ethereum and connect your MetaMask wallet.
Set your ‘transfer to’ to Cudos and connect your Keplr wallet
Click ‘begin new transfer’ and proceed to the next screen, where you can choose the amount of CUDOS you want to transfer.
Click ‘transfer’ and approve all transactions that pop up to begin bridging your CUDOS
Your ERC-20 CUDOS has now been migrated to native CUDOS, which you can use for staking.