Bridge OSMO Into sOSMO - Secret Network Tutorial
Official Shade Protocol tutorial on how to bridge OSMO to sOSMO on Secret Network.
Bridge Assets
In this tutorial, learn how to bridge OSMO (an IBC asset) onto Secret Network - empowering you to interact with Shade Apps such as bonds!
Terminology
OSMO: a governance token that allows token holders to decide on the ATOM protocol's strategic direction and future modifications.
SCRT: the gas and governance token of Secret Network
Requirements
~5 minutes
Keplr Wallet
SCRT
For gas
For interaction with the wrap page
OSMO
For gas
For transferring
Steps
Secret Bridging
Connect Wallet
IBC Deposit
Wrap OSMO → sOSMO
Check Wallet
Secret Bridging
First, visit https://wrap.scrt.network/ - this page empowers you to bridge and wrap IBC assets into their privacy-preserving equivalent.
Connect Wallet
Next, click on “Connect Wallet” in the upper-right corner.
IBC Deposit
Next, scroll down to OSMO on the wrap page.
Click on the interfacing arrows next to the OSMO logo.
With the IBC Deposit pop-up, ensure that both the OSMO and the Secret addresses are correct. Once you have, enter in a deposit amount and click “Deposit”.
Upon successful transaction, you will see your portfolio reflect this most recent deposit.
Wrap OSMO →sOSMO
As a final step, you need to convert your OSMO into the privacy-preserving wrapped SNIP-20 token equivalent known as sOSMO (“secret osmo”).
After entering the amount of OSMO you would like to wrap with privacy, click on the “wrap” button.
Congratulations, your OSMO is now privacy-preserving!
Check Wallet
You can also view your sOSMO in your keplr wallet.
Deposit Into Shade Bonds
As a final step, you can deposit your sOSMO tokens into a Shade Bond to earn yield! Follow the tutorial below:
Shade Bonds: https://app.shadeprotocol.io/bonds
Conclusion
Shade Protocol is an ambitious array of application-layer products focused on a simple end user experience that involves the incorporation of privacy by default. These interconnected privacy-preserving DeFi products built on Secret Network will change DeFi as we know it — empowering the next generation of value creation and exchange. Shade Protocol is launching Silk: a privacy-preserving collateralized, reflexive stablecoin built on Secret Network.
But we can’t do this without community. We need you to join our community and help make Silk and Shade Protocol a reality.