Spherium introduces its first ever application in its suite of Cross-Chain compatible DApps, termed as HyperBridge.
Hyperbridge links one blockchain with another so that digital assets can be switched and used in multiple chain networks. Essentially, HyperBridge will start off with mainstream EVM compatible blockchains Ethereum and Binance Smart Chain to bridge ERC-20 to BEP-20 and back gain and will periodically move to add L1s, L2s, Roll-Ups, Side-Chains and Non-EVM compatible chains to offer the most extensive set of chain collections in a cross-chain bridge ever.
Below are answers to possible questions you may have regarding the usage of HyperBridge. However, if you don’t find what you’re looking for, feel free to reach out to our support team at [email protected]
What can I do if my transaction seems stuck?
You should wait for at least 30-45 minutes in case of a congested network. But if your transaction gets stuck, you can send a message to [email protected]
How long does a bridge transfer take?
Transfers between any blockchain depends a lot on the source and destination chain but to take an instance a transfer between Ethereum blockchain and the Binance Smart Chain (BSC) and vice-versa could roughly take between 1-5 minutes. The transaction could be terminated after 25-30 minutes if not completed.
Why does either side of the bridge take so long?
Transactions between both bridges may take from seconds to minutes to execute. If the bridge interface shows the transaction is delayed, it might be a problem with the interface. It is advisable to check your wallet and the chain explorer because your assets may have been transferred and sometimes the confirmation message may not reflect the same.
What if the gas price is more than the amount I am transferring?
HyperBridge will not approve transfers if the amount being transferred is lower than the gas price.
Can I send any tokens created on any Blockchain and vice-versa?
Our bridge is designed to support the transfer of EVM compatible chains added on the Bridge initially. So, in theory you will be able to send tokens created on the BSC to the Ethereum blockchain and vice-versa.
Can I send BTC across the bridge?
HyperBridge does not support Bitcoin blockchain as of this moment, we might add this in the future. Currently only EVM compatible chain tokens like ERC-20 tokens and BEP-20 tokens will be available.
What if my transaction is not visible in the explorer?
Corresponding bridge transfers will appear on the respective chain explorers for example Etherscan for the Ethereum and BSCscan for the Binance networks. However, the transactions may take a few minutes to appear on the explorer. To search for your transaction in the explorer, copy and paste your address into the source chain explorer to track the transaction.
Are there tutorials on how to use the Spherium bridge?
Yes, you can view the video tutorials for How To Use HyperBridge step-wise.
How do I pay for transaction fees on the bridge?
The transaction fee on HyperBridge will be charged in the source chain and destination chain token. In future, the option of paying the Bridge fee in $SPHRI will also be available to lower the fee cost for those who pay in the native token.
Can I send tokens to a different address on the other network?
The bridge only allows transfers to the same address on the other network. After the asset is transferred to the other network, it can be sent to any address or contract.
Can I speed up my transaction?
Although Metamask wallet has a feature to speed up transactions, the HyperBridge doesn’t.
Why doesn’t the number of assets I received on one network match the amount that I sent from the other?
When transferring a token from one blockchain to another, a Bridge Fee of 0.5% is levied on top of the gas fee required for the transaction. Say for example if you are transferring 100 tokens from one chain to another, you will receive 99.5 tokens on the destination chain. This Bridge fee is levied to maintain the platform and adds in the further development of the updates. Hence, always make sure to add in an extra amount as opposed to the exact amount you want to transfer.
How is gas estimated? How does the bridge get token prices?
The bridge uses the Oracle price feeds to get gas price information for the network. The gas price is padded by a few GWEI to ensure transactions sent by the bridge are quickly included in the specific block.
The bridge also uses Oracle price feeds to determine token prices used to calculate the amount of a token that is equivalent to the bridge fee.
How can I add a new token to the bridge?
You can make a request to Whitelist your tokens, this applies to startups or projects that are already listed on the chains supported by HyperBridge. If you represent a project you can also join the Hyperlaunch Incubation program to use Spherium’s Bridge and other products exclusively.
How can I add a token used in the bridge to Metamask?
To perfectly understand how this is done, follow the link to read more: https://metamask.zendesk.com/hc/en-us/articles/360015489031-How-to-add-unlisted-tokens-custom-tokens-in-MetaMask
Why doesn’t the newly bridged token appear in my wallet automatically?
Tokens are not held by your Cross-chain address, but rather in the token’s smart contract. You have to add the address for asset Metamask which contracts to check for balances held by your addresses.
Where can I buy $SPHRI to bridge?
Spherium’s native token $SPHRI can be traded on the following sites:
Has the smart contract code been audited?
Yes, the code for the Spherium bridge and smart contracts have been audited by Halborn, an elite cybersecurity firm, to ensure that Bridge is trustworthy, not vulnerable and free from any potential cyber-attacks. The audit report can be found HERE
What chains are supported by the Spherium Bridge?
Currently, the Spherium bridge supports the Binance Smart Chain and Ethereum Blockchain, Avalanche, Arbitrum.
Can I bridge assets from an entirely different network to Spherium?
Yes, as long as an asset is based on the chains supported and whitelisted on our bridge, it can be done.
Can a single private key mint tokens?
We have a couple of private keys. They check the bridge requests and vote for the request to be executed. More than 51% of private keys should agree to move a token from the source chain to the destination chain.
For example, if we have 3 private keys, at least 2 of them should agree to transfer the token. After that, one of the two private keys who agree to the transfer can mint the token.
Why doesn’t the bridge hold funds in a smart contract?
We believe it's more secure to lock tokens in a treasury, as a result we will ensure tokens are safely moved to our treasury. To prevent any major hacking incident.
Can I integrate bridge transfers into my own smart contracts?
Technically, it is possible. But it won’t be straightforward because we are not going to show our bridge functionality to users.
I can’t see my tokens in my wallet. Are they lost forever?
No. It is very likely it’s a user interface issue, and the tokens are there but you just don’t see the tokens, they should reflect in about 2-5 minutes.
How can I contact someone for support?
Please note that we aim to respond to most issues within 24-48 hours and urgent ones within 1-2 hours.
You can also message us on Twitter @SpheriumFinance, our customer service will try to respond as swiftly as possible.