Iagon Cardano-Ethereum token bridge is already launched
Milkomeda now allows investors and users to transfer USDC and ERC-20 Iagon token from the Ethereum blockchain to the Cardano blockchain. The customer transfers USDC from Ethereum to Milkomeda and finally to Cardano as a Cardano Native Asset.
To perform a swap, users would need at least 4 milkAda tokens in their wallets, which is required by Milkomeda and Iagon Token Bridge. If a user does not have enough or any milkAda tokens in a wallet, they can transfer ADA from any Cardano wallet to an EVM wallet and get their tokens.
After getting the requisite tokens, users should go to the bridge website and link their Cardano wallet to their Nami or Flint wallets. Then, users must select Milkomeda C1 and email their ADA to the supplied address.
The Iagon Token Bridge is currently in beta testing, but it is already capable of converting tokens created for unwrapping and wrapping IAG tokens on the Ethereum and Cardano blockchains. The solution enables the exchange of ERC-20 IAG tokens for native Cardano blockchain tokens in both ways. The Milkomeda sidechain powers the solution.
Iagon bridging solution is a pivotal moment in the network’s interoperability. The Layer 2 EVM enables Ethereum-based decentralized app deployment on Cardano. Later on, users expect the release of the ADA-AGIX converter to go live, enabling singularityNET native token AGIX to provide interoperability with ADA.
Unfortunately, the ecosystem’s active development process is not ensuring strong market performance, as ADA continues to lose value. ADA has lost 43% of its value since the beginning of May.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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