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ETH and Cardano: New token bridge is live; how to use Iagon

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It’s been live since the weekend: a new bridge between ETH and Cardano that can be used to transfer USDC and ERC-20 IAG tokens. The token bridge developed on the Cardano sidechain Milkomeda – Iagon – serves as an interface between the smart contract platforms and is to be extended to other networks in the future.

First of all: In order to be able to use the Iagon Bridge, at least four milkAda tokens are required. For this, ADA tokens must be sent to an EVM wallet via a Cardano wallet – or vice versa. In order to be able to carry out the swap, a milkAda is required as a transaction fee. The rest remain in the wallet.

Step 1: Transaction from ETH to Milkomeda

In the first step, a Metamask wallet must be connected. For this, in the “From” button on the bridge page ETH selected and converted to Milkomeda via “To”. In the next step, the corresponding token and the number of tokens to be transferred are selected. Finally, the transaction is confirmed. The transfer takes about 45 to 60 minutes.

Step 2: From Milkomeda to Cardano

Once the transaction is settled, the milkIAG tokens should be present in the wallet. The game starts over. The “From” button is used to select Milkomeda to log in with the Metamask wallet. Then select Cardano under “To” and click on “Connect” to log in with the Cardano wallet. Then select the token (milkIAG) and specify the number of tokens to be transferred. Finally, the transaction is confirmed. After about ten minutes of waiting, the IAG tokens should appear in the Cardano wallet.

The token transfer from Cardano to ETH also requires two steps, which according to Iagon should be automated in the future. After converting CNT IAG tokens into Milkomeda tokens via a Cardano wallet, they can be transferred to the ETH wallet.

The Iagon Bridge is still in beta and the desktop version is strongly recommended over the mobile version. For the purpose, the bridge is already fully functional.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.
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