CFG (Centrifuge) <> CFG (Ethereum)

The CFG token lives natively on Centrifuge Chain but can be bridged to Ethereum and used as an ERC20 token. The ERC20 Token is also called CFG on Ethereum and has the address 0xc221b7E65FfC80DE234bbB6667aBDd46593D34F0 on Ethereum mainnet.

About the bridge

The bridge used by Centrifuge is a trusted relayer bridge. This means a set of relayers are trusted with relaying messages between Ethereum and Centrifuge chain. When assets are moved between the chains, these relayers pick up the message on Centrifuge Chain and trigger a transaction in Ethereum or vice versa. The bridge is built by ChainSafe in collaboration with Celo, Aragon and ETH Classic. Read ChainSafe's announcement to learn more about the bridge.

Bridge Fees

The CFG (Centrifuge) <> CFG (Ethereum) bridge relies on a set of relayers to submit transactions to Ethereum and Centrifuge Chain about the events happening on the other chain. Because these transactions can be very costly at high gas prices, the bridge must charge high enough fees that it will be able to pay for its fees even during times of very high gas prices. For this reason, the fee to go from Centrifuge Chain to Ethereum is relatively high whereas to bridge tokens from Ethereum to Centrifuge chain is cheaper (only the gas fees in gwei on Ethereum have to be paid).

Please note that the CFG (Centrifuge)<> CFG (Ethereum) bridging fee costs 100 CFG tokens.

In addition, because Centrifuge Chain does not have any insight into gas prices on Ethereum, there is no way to charge the actual gas spent. The bridge fees are constant and can be changed at any time by the council and are shown to you before you bridge any tokens. There are ways to improve the performance of this in future iterations (batching of transactions, signature aggregation etc.).

How are CFG on Centrifuge Chain & CFG on Ethereum different?

Each CFG (Ethereum) is backed by one CFG (Centrifuge) locked up in the bridge account on Centrifuge Chain when moved over to Ethereum. You can move between Ethereum and Centrifuge at any time without any restrictions.

Using CFG on Centrifuge Chain allows you to:

• Participate in governance
• Pay for fees on Centrifuge Chain

Using CFG on Ethereum allows you:

• To interact with DeFi apps that support ERC20 tokens
• Use it within Ethereum and hold it in your Ethereum wallet.

Using the bridge

A hosted bridge UI is available at https://bridge.centrifuge.io Navigate over there and you will be presented with two options: Get CFG on Centrifuge to move ERC20 CFG to Centrifuge Chain and Get CFG on Ethereum to move native CFG to Ethereum. Select which way you would like to use the bridge and the UI will ask you to connect your wallet (either via MetaMask for Ethereum or the Polkadot.js Browser Extension).

Enter the amount you want to transfer (the bridge fee will be deducted automatically) and the destination address (make sure you use the right address format 0xxxx for Ethereum and 4xxx for Centrifuge chain!):

Click on Start Transfer and then confirm the transfer:

The bridge relayers now submit your transfer request on chain. After enough confirmations have passed, you will receive the tokens on your target chain (an average transfer takes about 15 minutes. In case of higher traffic in both networks, it can take a little bit longer).