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D’CENT Wallet joins forces with Celer Network, making cross-chain transfers easy and safe.
We are excited to announce Celer cBridge has been integrated with D’CENT Wallet.
Celer Network’s cBridge is one of the most efficient cross-chain bridging protocol that takes advantage of Celer’s SGN (a Tendermint-based PoS side chain to Ethereum) to facilitate fast finality, low costs, and security rooted essentially on Ethereum layer-1. This allows them to offer a unique experience in transferring assets between the various EVM-compatible networks. Celer cBridge supports a plethora of the most popular EVM-compatible blockchains such as Ethereum, BNB, Optimism, Fantom, Boba Network, Avalanche, and many more.
For example, users can easily bridge (cross-chain transfer) ETH, USDT, USDC, DAI, ..etc. from the Ethereum network to another network such as the BNB network.
Celer cBridge can be accessed directly from the Discovery Tab of the D’CENT Wallet.
You can find the full tutorial on using Celer cBridge from here:
https://cbridge-docs.celer.network/tutorial/cross-chain-transfer
What are the Fees for using Celer cBridge?
Just like any swap or bridge services, there is a fee when bridging tokens between blockchains through cBridge. The total fee paid by the user of the bridge service depends on the type of bridging model used:
✅ Liquidity Pool-Based Bridging
Total Fee = Base Fee + Liquidity Fee
The Base Fee is the payment to cover the gas cost for transferring funds on the receiving (destination) blockchain.
The Liquidity Fee is the payment (or the reward) received by the liquidity providers and the Celer State Guardian Network (SGN) stakers for providing services.
This “Liquidity Fee” is proportional to the transfer amount (after bridge rate conversion) and the type of transfer:
For transfers from L2 roll-up chains (Arbitrum/Optimism/Boba/Metis), the liquidity fee percentage is 0.1%-0.5%
For all other transfers the liquidity fee percentage is 0.04%
✅ Mint-and-Burn Bridging
Total Fee = Base Fee + Percentage Fee
The Base Fee is paid to cover the gas cost for sending funds on the destination chain.
The Percentage Fee is proportional to the transfer amount and is paid to the Celer SGN stakers as economic incentives for guarding its security. The fee percentage is governed by the Celer SGN. (Usually, the fee percentage is 0%-0.04%)
[D’CENT Wallet]
D’CENT Wallet is created by IoTrust, a company founded by security experts with over two decades of security know-how and engineering experience in developing deeply embedded security solutions based on secure-chip technology (SE and TEE).
D’CENT Wallet caters to the diverse needs of cryptocurrency users, prioritizing security and user experience. Users can choose the Biometric Wallet, Card type Wallet, or the free-to-use Software Wallet.
Disclaimer:
This blog is for educational purposes only. Information presented here, including projects or brands mentioned, is informative and not financial, legal, or tax advice. While we strive for accuracy, we cannot be held liable for any inaccuracies. Cryptocurrencies are inherently risky. Do your own thorough research and consider consulting a financial advisor for investment decisions aligned with your goals and risk tolerance. External links may be present and we are not responsible for their content or practices. Review their terms of service and privacy policies.
This blog is for educational purposes only. Information presented here, including projects or brands mentioned, is informative and not financial, legal, or tax advice. While we strive for accuracy, we cannot be held liable for any inaccuracies. Cryptocurrencies are inherently risky. Do your own thorough research and consider consulting a financial advisor for investment decisions aligned with your goals and risk tolerance. External links may be present and we are not responsible for their content or practices. Review their terms of service and privacy policies.
