🌉How Bridging Works on Dymensify
Dymensify is heralding the possibility of bridging tokens between IBC and EVM ecosystems using the Dymension protocol. It is simple to bridge crypto with Dymensify, here are the steps:
Dymensify uses the Dymension blockchain, and that also extends to the use of the $DYM tokens. First of all, users of the Dymension blockchain can easily leverage Dymensify to bridge their assets to Ether or other assets.
To such users, Dymensify is the gateway to the wider world.
Albeit slightly different, this is also the case for any user of Cosmos or IBC-based networks.
The first action such users have to take is to trade or swap their assets to $DYM, after which they can bridge to the EVM with Dymensify.
It is worth noting that in the future, users can trade Cosmos-based tokens to ETH and vice versa without having to convert to $DYM.
In connection with that, the protocol logic of Dymensify has been defined such that users can only bridge as much as they have in their wallets.
As a result, no one can bridge more than the value of tokens they have. As an example, whoever owns $500 worth of $DYM can only bridge to get a maximum of $500 worth of Ether.
Once a user is liquid, then they can proceed to the next step.
The Dymensify interface is simple and intuitive to use. Users must specify their current assets and the network on which such assets run.
In turn, they must select the asset they want to bridge to.
After defining the specification of their transaction, they must also include the numerical parameters, which include the number of tokens they want to bridge.
Under the hood, the validator screens transactions to ensure that all users act in good faith and that the transactional details are accurate.
In cases of uncertainty or dispute, the RollApp Virtual Machine can be called to replay how the transactions played out.
Other things being equal, the user gets the value of their bridged tokens. Bridging on Dymensify is that simple!
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