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BRIDGING USDC from Ethereum to USDC native (base)
As the USDC holder on the Ethereum blockchain, you are probably aware of the different bridge options available to transfer your tokens to other platforms. However, not all bridges offer access to the native version of the USDC on the L2 base. In this article, we will explore how to fill USDC from Ethereum to USDC native (base), without using the USDBC variant.
Why bridge?
Before diving into details, it is essential to understand why you want to fill your USDC to base L2. Some potential reasons include:
* Improvement of liquidity
: by bridging at the L2 base, you will have access to a larger range of trading pairs and potentially more market manufacturers.
* Increased token value : Some holders may believe that the native version of the USDC will appreciate in value because of its increased accessibility.
* Simplified withdrawals
: Pontage can simplify the USDC withdrawal process at the base of L2, because you will no longer have to worry about the bridging costs.
Bridge options
Several bridge options are available for Ethereum-USDC transactions. However, not all bridges offer access to the L2 base. Some popular options include:
* Curve (A.K.A. Finance of the curve) : This bridge uses a new algorithm which allows users to remove the USDC to base L2 while maintaining liquidity on the two platforms.
* Dydx : Dydx is another popular bridge that supports USDC withdrawals at the base of L2, but with some warnings.
Bridge costs
During the Ethereum bridge at the L2 base, you probably enclosed costs. These costs may vary depending on the bridge and the specific transaction. Some common costs include:
* USDC-TO-USDC costs (non-bridge) : generally approximately 0.5% to 1% of the transaction value.
* Bridge costs : Varies between 1% and 2% of the value of the transaction, depending on the bridge.
To start
To fill your ETHEREUM USDC at the L2 base without using the USDBC variant, follow these steps:
- Connect to your Ethereum wallet (for example, Metamask) and access the bridge settings.
- Select the desired bridge (curve or dydx).
- Choose the “withdrawal” option for USDC to base L2.
- Examine the costs associated with the transaction.
- Confirm the withdrawal.
Conclusion
Packing your Ethereum-USDC tokens at the L2 base can be a practical means of accessing more liquidity and potentially higher token values. However, it is essential to carefully review the bridge options, the costs and all the restrictions before continuing. Always prioritize security and make sure you use bridges known to avoid any risk or potential problems.
Additional advice
- Look for the bridge in depth to understand its potential costs, limits and risks.
- Consider reaching out to the bridge support team to get bridging help.
- Be aware of the regulatory changes that can affect the bridge or withdrawals.