$VET



Fixation after abnormal activity.
🎯Purpose:
0.09685
‼️Risk per trade: 0.5% of the allocated funds for spot trading.
Thank you for subscribing and responding🚀.
🚨🚨
👉Keep an eye on the charts and your portfolio, and remember: DYOR -Crypto is always changing, so stay informed before jumping in! 🚀💸

ZilBridge, the original ecosystem bridge that enabled seamless token transfers between Zilliqa and supported EVM networks, will be officially migrated to X-Bridge following the closure of Poly Network. 

This marks an important update for the Zilliqa ecosystem and its users, with this migration scheduled to take place on December 23, 2024. This migration will take some time, and X-Bridge functionality may be unavailable for an extended period while this migration is completed.

ZilBridge was powered by Carbon and Poly Network, providing a straightforward way to bridge tokens between Zilliqa and other networks. However, with Poly Network ceasing operations, as outlined in this announcement, the transition to a new solution is essential to ensure continued bridging functionality.

X-Bridge is an Ethereum Virtual Machine (EVM) bi-directional bridge designed for transferring tokens between Zilliqa and other EVM-compatible networks. Migrating to this bridge is a strategic decision that aligns with Zilliqa 2.0’s approach to fostering interoperability, as X-Bridge operates on top of Zilliqa 2.0’s native cross-chain broker (UCCB) protocol.

Unlike ZilBridge, X-Bridge requires the user to use an EVM wallet, such as MetaMask, for bridging operations.

While ZilBridge is migrating to X-Bridge, the ZilSwap DEX operated by Carbon is still available and will continue to operate, facilitating the seamless exchange of tokens on the Zilliqa network.

It is also important to note that if any users have ZIL tokens on Demex, they should withdraw these before December 23, 2024, as this platform will be deprecating ZIL deposits and withdrawals due to the termination of Poly Network services.

Key updates for users

Here’s what is changing:

ZilBridge will no longer be operational. The service will be fully replaced by X-Bridge at xbridge.zilliqa.com.

Tokens will be migrated to X-Bridge. The same networks and tokens previously available at ZilBridge will be available on X-Bridge. However, note that zBSC and wrapped ZIL on BSC will take additional time to become available.

To use X-Bridge, users must transfer their tokens to and connect to the platform with an EVM wallet (e.g., MetaMask). It’s critical that users ensure they control the recipient wallet, as tokens sent to wallets they don’t control cannot be recovered. It is the user’s responsibility to ensure they send tokens to the correct destination address.

For detailed guidance on how to transfer your $ZIL and tokens from a Zilliqa wallet to MetaMask, check out our previous tutorials on this topic.

How to bridge tokens on X-Bridge

To move tokens to or from the Zilliqa network using X-Bridge, follow these steps:

Navigate to xbridge.zilliqa.com 

Under the Network section, select a source network on the left and a destination network in the field on the right.

Click on Connect Wallet in the top-right and follow the prompts to connect your EVM-compatible wallet (e.g. MetaMask).

Under the Token section, select your desired token and specify the amount you wish to transfer from the source network to the destination network.

In the Recipient Address field, please paste the destination address you wish to send your tokens to. 

Click on Bridge to start the transfer.

After you have started the bridging process, you will need to confirm two transactions in your wallet. The first transaction allows the bridge to withdraw the required amount of tokens and the second begins the bridging process.

Once your tokens have been withdrawn by X-Bridge, it may take a few minutes before the transaction is finalised.

‍Note that the fees charged by the bridging contract cover the required transactions on both the source and destination networks.

‍Once all transactions are confirmed, your tokens should appear in the destination address.

#news_update Last night was a truly “fiery” night for the entire crypto market. The constant news from the FED made many people lose their accounts, especially those who played long positions with high leverage without setting stop losses. Leveraged orders worth $300 million were liquidated in just the last hour - a very bad number!
Key news from the Fed last night:
Fed Chairman Jerome Powell has said the Fed is “not allowed to hold Bitcoin” and that whether the U.S. government should hold Bitcoin is up to Congress to decide. But the Fed has no intention of holding any Bitcoin.