The LeoBridge was developed and launched by LeoFinance to enable the movement of assets from the Hive Blockchain into different DeFi chains like Polygon, BNB Chain and Ethereum.
Brief History
Initially, the bridge only catered to the LEO token, providing users a gateway to move LEO (from the Hive blockchain) to different networks or blockchains as mentioned above (or vice versa):
Previously, the bridge's user interface looked like this:
The New Leo Bridges (Multi-Token Bridge)
The bridge had since undergone a series of iterations and upgrades in the last few months and more assets from the Hive ecosystem have been added into it, hence it is now called the Multi-Token Bridge (MTB). The new UI looks cool and fresh.
Hive Assets on the MTB/Leo Bridges
The bridge now allows 4 Hive assets to be moved between chains.
What you need when using the MTB
- A receiving wallet address for your selected network (Polygon, BNB Chain, Ethereum)
- Hive account
For instance, when you want to move HIVE into the Polygon network, you will need a Polygon wallet address for you to receive the wrapped version of HIVE (pHIVE).
Using the Multi-Token Bridge (Leo Bridges) is pretty straightforward and the UI is pretty simple and user-friendly.
How to Bridge (Wrap) $HIVE into Polygon
Go to https://wleo.io and hover over to the pHIVE then click it.
or go directly to https://wleo.io/hive-polygon/
When the window opens, complete the required information:
- Enter Receiving Polygon address
- Amount to wrap or bridge
- Click "Transfer"
- Enter your Hive account name
- Approve transaction on your Hive Keychain
- You're done
How to Bridge (Unwrap) pHIVE from Polygon to Hive
Go to https://wleo.io/hive-polygon/
- Enter your Hive account name
- Amount to unwrap
- Click "Transfer"
- Connect and approve the transaction on your Polygon wallet
- You're done
Direct Links to LeoBridges
- wLEO (Ethereum): https://wleo.io/leo-ethereum/
- Binance Chain:
- bLEO: https://wleo.io/leo-bsc/
- bHIVE: https://wleo.io/hive-bsc/
- bHBD: https://wleo.io/hbd-bsc/
- Polygon:
- pLEO: https://wleo.io/leo-polygon/
- pHIVE: https://wleo.io/hive-polygon
- pHBD: https://wleo.io/hbd-polygon
- pSPS: https://wleo.io/sps-polygon
Benefits of the MTB/LeoBridges to Hive
The importance of the Multi-Token Bridge cannot be undermined. It is truly useful as it is providing an outlet for Hive assets to get more exposure and liquidity into the DeFi world across different chains as previously mentioned. Without it, the above Hive assets would only be limited to on-chain Liquidity Pools (i.e. Diesel Pools on TribalDex and on BeeSwap.).
In short, it creates an onramp and offramp for users to flow in and out of the Hive ecosystem to the other chains.
LeoFinance, through the Multi-Token Bridge has opened a gateway for the Hive userbase to access other investment opportunities off the chain.
Images/screenshots are from the MTB. No copyright infringement intended. 070922/22:00ph
Posted Using LeoFinance Beta
Informative article indeed. After reading I learned an information that may helps me for future use, as of now I still don't have Leo token so I just learn it.
Thank you sis :)
You can create threads (https://leofinance.io/threads) on LeoFinance or publish articles through the front-end for chances to earn LEO :)
Posted Using LeoFinance Beta
This is very complex for a person like me 😄
Haha, you can learn about them here on LeoFinance :)
Posted Using LeoFinance Beta
Great information here. We might see more bridge coming up for more token related to hive
Posted Using LeoFinance Beta
Thank you. And hope more Hive assets will get bridged for more exposure and liquidity offchain.
Posted Using LeoFinance Beta
thanks for sharing dear @ifarmgirl-leo, quite informative 🤩
LeoHodl Contest - entry 1 :)
Posted Using LeoFinance Beta
Thank you, pleasure to participate :)
Posted Using LeoFinance Beta
I love this very educative and informative nice one friend @ifarmgirl-leo
Thank you lots Toby. Appreciate you kind remarks. Glad you found it informative.
Posted Using LeoFinance Beta
As always dear friend 🤠😊
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Are there any fees? Either for staking in cub kingdom or for using the bridges?
There's a 0.25% wrapping and unwrapping fees on the bridge. For staking on CUB, there are transaction fees fees but very minimal too.
Posted Using LeoFinance Beta
Thanks for sharing this! I’ve been needing a tutorial to get my tokens to bnb. Didn’t know they had such a nice bridge.
Leo is building some amazing stuff for us here though. Great team!
Oh, glad this helps :) It's a great bridge that connects Hive to and from other chains.
LeoFinance is indeed a builder :)
Posted Using LeoFinance Beta