Guide: How to swap your bridged FRAX-USDC to native tokens and add liquidity on Moonriver (SUSHI).

In this guide we will demonstrate how to swap your bridged FRAX tokens for Chain-Native tokens.

NOTE: This guide is for Fantom network, but is applicable to other chains. For Polygon, use their proprietary bridge for the bridging step.

1- How to swap your bridged FRAX to native tokens?

Step 1

  • We will be using the Fantom network as an example but the bridging is the same with any chain as cross-chain bridge is for swapping tokens on non-Ethereum chains
  • Please head to anyswap bridge page and connect your wallet: https://anyswap.exchange/#/bridge
  • You will arrive at this page:
  • Choose FRAX from the “From” menu and change the network to FTM mainnet.
  • Write the amount of FRAX you want to bridge then click “Swap”.
  • Click “Swap”.
  • A MetaMask transaction will pop-up click “Confirm”, and wait for the transaction to be confirmed.
  • Now you have bridged your FRAX tokens, you will need to do the same process to bridge USDC.

(NOTE: you may need to wait some time for it to appear on FTM even after the transaction is confirmed)

Step 2

  • Now you have bridged your FRAX you will need to swap them for the Native FRAX tokens.
  • Please head to the Frax Cross Chain bridge page: https://app.frax.finance/crosschain
  • You will arrive at this page:
  • Choose the Fantom chain from the drop-down menu.
  • A MetaMask window will pop-up and click “Switch Network”.
  • Choose anyFRAX from the “From” menu and FRAX from the “To” menu.
  • Write the amount of FRAX you want to Swap then click “Swap”.
  • A MetaMask transaction will pop-up to approve your spending click “Confirm”.
  • A MetaMask transaction will pop-up to swap your FRAX tokens click “Confirm”.

Congratulations! Now you have swapped your bridged FRAX tokens for Chain-Native FRAX.

2-How to add liquidity to FRAX-USDC Pool on Moonriver (SUSHI).

Step 1

  • Click on “Connect to a wallet”
  • Select your preferred wallet. We will be using a metamask wallet here.
  • After clicking on connect a wallet, a pop-up window will appear. Click on confirm. You’re successfully connected your wallet.
  • Select a network. Here, you’ll select “moonriver”.
  • After selecting moonriver network, a pop-up window will appear to allow you to switch your wallet to moonriver. Click on “Switch Network”
  • Click on “FRAX-USDC” pool.
  • Select the amount of FRAX-USDC you wish to add in the liquidity pool and click on “Enter An Amount”. A pop-up window will appear, click on “Confirm”.
  • Click on “Staking”, then select the amount of LP token you wish to deposit. Click on “Confirm Deposit”.
  • A MetaMask window will pop-up, click on “Confirm”.

Congratulations, you have successfully provided liquidity on Moonriver (SUSHI).

About Frax Finance

Frax is the first and only stablecoin with parts of its supply backed by collateral and parts of the supply algorithmic. The stablecoin (FRAX) is named after the “fractional-algorithmic” stability mechanism. The ratio of collateralized and algorithmic depends on the market’s pricing of the FRAX stablecoin. If FRAX is trading at above $1, the protocol decreases the collateral ratio. If FRAX is trading at under $1, the protocol increases the collateral ratio.

FRAX: is the stablecoin targeting a tight band around $1/coin.
Frax Shares (FXS): is the governance token which accrues fees, seigniorage revenue, and excess collateral value.

Website | Docs | Telegram | Twitter | Discord | Governance | Github

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Frax is the first and only stablecoin with parts of its supply backed by collateral and parts of the supply algorithmic.

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