Home » Investors can now transfer their USDC from Ethereum to the Cardano blockchain

Investors can now transfer their USDC from Ethereum to the Cardano blockchain

by Sonal Shukla

Investors along with users want to bridge their Ethereum blockchain USDC to Cardano. Now they can do it through Milkomeda. The user can bridge USDC from the Ethereum blockchain to Milkomeda. Then transfer it as a Cardano Native Asset to Cardano. The user can change USDC to Milkomeda from Ether and then again to Cardano. For performing such a swap, users will require a minimum of 4 milkAda tokens. It should be in their crypto engine wallets. It is needed by lagon Token Bridge and Milkomeda. A user may not be having sufficient or any token of milkAda in their wallet. Then they can transfer ADA to the EVM wallet from a Cardano wallet. Then they can receive their tokens. If you are looking to invest or trade cryptos check out Bitcoin smart

A smart contract payment

  • Lagon Token Bridge and Milkomeda expect that clients hold somewhere around four milkAda tokens in their crypto wallets.
  • It should be there before they might do a trade. 
  • The user of Cardano who needs something more or any milkAda tokens in their wallet might move ADA from some other Cardano wallet for receiving their tokens. 
  • 4 milkAda are required for the trade.
  • Only one milkAda is required as one smart contract payment. 
  • In the user’s EVM wallet, the excess milkAda will be put away.
  • Users of the Bridge page might link the Cardano wallets after they have the essential tokens for any switch. 
  • Their Flint or Nami wallets might be utilized for this reason. 
  • Clients can present their ADA to the provided address after choosing Milkomeda C1.
  • Currently, Token Bridge is in the mode of beta testing.
  • The blockchain of Cardano and Ethereum as of now gives a method for evolving tokens.
  • Consequently, the state is pointless.
  • Yet ERC-20 IAG tokens might be traded for local Cardano tokens on this platform in two ways. 
  • The sidechain of Milkomeda will power the Bridge.
  • The ecosystem of Cardano went quite far since its 2015 debut.
  • After the hard fork of Alonzo, this allowed the structure of Dapps and brilliant contracts.
  • It turned into a critical member of the DeFi business. 
  • As the following hard fork draws near, Cardano’s improvement exertion is high. 
  • Ahead of schedule in May, the index plummeted.
  • However, as the event of Vasil Hard Fork approached, it began to rise once more.
  • Currently, the lagon Token Bridge is in the version of the beta test.
  • Yet it already fulfills the purpose to convert tokens designed to unwrap and wrap IAG tokens on the blockchains of Cardano and Ethereum. 
  • This solution will let ERC-20 IAF tokens swap for native tokens in both directions from the Cardano blockchain.
  • Milkomeda sidechain powers this solution.

The blockchain of Cardano may see lending apps influx

  • IOHK, the parent company of Cardano presented a weekly report.
  • It was regarding the closed Vasil testnet that was launched already for assessing its functionality with a chosen group of users and dApps.
  • The team Cardano is constantly working on enhancements that are consensus-specific.
  • It is in Vasil HFC’s event anticipation in June.
  • Expectations are still in place for this event.
  • The community is predicting that Vasil may help the lending apps influx on the blockchain of Cardano. 
  • Cardano has recorded payments of 343,453 in the last 24 hours.
  • Payments are mainly transactions on blockchains that are account-style such as Ether.
  • With such a figure, any effective payments per second of nearly 3.96 at one effective 80 % block capacity have been arrived at.
  • Four different CIPs will get introduced by the upcoming update of Vasil.
  • This Vasil Hard Fork will be available at the start of June on the public testnet.
  • The mainnet launch will get launched on 29th June.
  • At the publication time, ADA was trading at $0.46.

Conclusion

After the lagon bridging solution’s launch, it is in a critical moment in the interoperability of the network. The Layer 2 EVM will allow Ether-based dApps deployment on Cardano. After that users can expect ADA-AGIX’s converter release to be live. It will enable AGIX, a singularity NET native token to give interoperability with ADA. But in the ecosystem, the active process of development is not assuring the market’s positive performance. This is because ADA losing all its value. From the start of May, ADA lost 41% of its price. 

 

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