Polkalokr Bridge Now Live On Mainnet

The Polkalokr Bridge (Bridgr) is officially live on mainnet. Users can now transfer $LKR tokens between Ethereum and Binance Smart Chain and take advantage of reduced transaction fees.

As with most cross-chain bridge applications, users must send their LKR directly to the BSC Bridge to transfer between the two blockchains.

— To move LKR from Ethereum to BSC, the user transfers ERC-20 LKR from an Ethereum wallet through Bridgr, and an equal amount of BEP-20 LKR will be deposited into their wallet on BSC.

— To move LKR from BSC back to Ethereum, the user does the same in reverse. A transfer of BEP-20 LKR tokens to the Bridge results in an equal amount of ERC-20 LKR being deposited in the user’s Ethereum wallet.

Users should note that cross-chain transfers require GAS. Usually, transacting with bridges involves a tedious two-step process in which users execute two transactions when depositing and claiming assets from the bridge contract. To save time and money, Bridgr’s in-built price oracle tracks the price of $LKR and Gwei at the time of transfer and estimates the cost of the ‘claim’. This is charged up-front in $LKR, streamlining this process into a single transaction.

About Polkalokr

Polkalokr is the first all-in-one, multi-chain token locking and escrow platform with built-in privacy functionality. Its products — Lokr, Swapr, Bridgr and Mintr — help build trust within the DeFi space by removing the human element and focusing on governance through code, with a seamless, omnichannel digital experience platform.

🔽Source:
https://medium.com/polkalokr/bridgr-now-live-on-mainnet-c791c21b62f2