Cardano-Ethereum Bridge Now Operational For USDC Transfers
USDC can now be bridged from Ethereum to the Cardano network through Iagon’s cross-chain bridge powered by the Milkomeda sidechain. Users can now convert USDC from Ethereum to Milkomeda and subsequently to Cardano as a Cardano Native Asset.
Recently launched in beta version, Iagon Token Bridge is a token converter designed for unwrapping and wrapping Iagon’s native asset (IAG) tokens on the Ethereum and ADA blockchains. The bridge plans to add other ERC-20 tokens in the future and currently supports USDC at the moment.
To perform a swap, users 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 EVM wallet to receive their tokens.
After obtaining the necessary tokens, users need to proceed to the bridge page and connect their Cardano wallet with Nami or Flint wallets. Users would then need to choose Milkomeda C1 and then send their ADA to the provided address.
Cardano’s ecosystem has gone a long way since its debut in 2015
After the Alonzo hard fork, which enabled the building of Dapps and smart contracts, it became a key player in the DeFi sector. As the next hard fork approaches, Cardano’s development effort is high. Early in May, the index had plummeted, but as the Vasil Hard Fork event neared, it started to rise again.
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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