oPortal FAQs (for users)
What features will oPortal provide?
oPortal is a platform, developed by BoringDAO, for users to instantly transfer tokens across various blockchain networks. It serves as a cross-chain bridge that allows users to obtain access to the various blockchains that support the cryptocurrency that they are holding, thereby enabling the use of their digital assets in the Defi world.
What is a Two-Way Bridge?
The oPortal Two-Way Bridge allows users to move their assets between different chains directly rather than moving between chains through CEXs.
Currently, our oPortal USDT bridge (Beta version) is live and users can transfer their Tether (USDT) among 12 blockchains, including Ethereum, BSC, Polygon, Avalanche, Fantom, Harmony, xDai, OEC, HECO, Optimistic, Arbitrum, and Boba. We are continuously expanding our partnership with many other L1s and L2s.
More USD-pegged tokens, BTC-pegged tokens and oToken assets will be added to the list in the near future.
Why do we need the oPortal Two-way Bridge?
More single-chain tokens will become multi-chain tokens such as USDT, USDC, and even ETH. The market needs a fast, easy and most importantly, safe, cross-chain protocol to support the prosperity of a multi-chain universe.
What is the cross-chain fee?
For each transfer, oPortal charges a 0.5% cross-chain transaction fee and 100% of the fees collected will be rewarded to liquidity providers (LP).
Is it safe to transfer assets through the oPortal bridge?
Yes! Powered by Nash Equilibrium Lock (NEL), oPortal is secure and fully open-sourced with all code currently being audited.
What is a Native Bridge?
With the oPortal Native Bridge, BORING tokens can be transferred to any chain that BoringDAO supports. BoringDAO is open and willing to cooperate with any project developers. BoringDAO will design an optimised bridge for each token, allowing them to transfer between different blockchains in the safest and fastest way.
How long does it take to transfer assets across chains?
This depends on how big the transaction is. For most cases, it will usually take 2-10 minutes. One hour is quite possible though when the network is in congestion. For large asset exchanges it may take up to 24 hours to bridge. This depends upon the network traffic of the target blockchain.
How can I track the bridging process?
Please use the respective blockchain explorers to track your transactions, and also keep an eye on the target blockchain explorers to check where your assets will end up.
How to participate in the oPortal farms?
5 simple steps:
1. pick a chain and deposit USDT to your wallet;
2. add liquidity into the pool;
3. choose a farm according to the chain from the list;
4. unlock your wallet, approve the contract, and then stake;
5. you’re all set! Starting now, you’ll be getting $BORING tokens as rewards
What can I earn as a liquidity provider?
In total, earnings for LPs will consist of a 100% share of bridge fee charged for every transaction (0.5%) plus the $BORING token rewards from the farms.
Why do I receive my tokens on the other chains when I remove liquidity?
Please be careful that you may receive your assets on different chains when withdrawing, depending on the available liquidity in the corresponding pools. In the later 1.1 version of the oPortal, users will be able to pick the destination chains when they remove liquidity.
Please note that you will be charged a 100 USDT gas fee when removing liquidity to the Ethereum chain
Last modified 1mo ago
Copy link