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SwapCTC is Live: A Guide for the Updated Process

Adam Brazenas

• 4 min read
SwapCTC is Live: A Guide for the Updated Process

The Creditcoin ecosystem just got a whole lot better. Users can now bridge their Ethereum-based Creditcoin tokens (G-CRE) and (wCTC) to the Creditcoin Mainnet to interact with its smart contracts. To do so, they need to convert their G-CRE to Mainnet CTC (EVM) using our bridging tool. Transaction fees are to be paid from the sending side, which in this case is the Ethereum network.

The streamlined swap process will make it easier than ever for users to transition between wCTC, G-CRE, and Mainnet CTC (EVM) using EVM addresses. Here’s everything you need to know about the new process, including security checks, swap options, and how to track your Mainnet CTC (EVM) balance.

What’s New in the Swap Process?

The recent update allows users to send tokens directly to a designated address without the need for wallet connection, saving time and simplifying the experience. Here are the main points:

  • EVM-Only Addressing: The swap process now only requires EVM-compatible addresses, eliminating the previous need to connect wallets.
  • Streamlined Returns: After initiating a swap, tokens will be returned to the same EVM address within 1-2 weeks.
  • Enhanced Security Verification: If you suspect any unusual activity, you can verify the swap address with a Creditcoin Discord admin, or by contacting [email protected].

How to Use SwapCTC

To swap between wCTC and CTC(EVM), start by opening the SwapCTC tool.

With SwapCTC, users have two main swap options:

  1. G-CRE → CTC (EVM): This is a one-way swap from Ethereum to the Creditcoin Mainnet. It allows users to move their G-CRE tokens onto the Creditcoin network, but not back to Ethereum.
  2. wCTC ↔ CTC (EVM): This swap is two-way, enabling users to transfer wCTC between Ethereum and the Creditcoin Mainnet. You can swap from wCTC on Ethereum to CTC (EVM) on Creditcoin, and vice versa, making it a flexible option for cross-network transactions.

These options give users greater flexibility in managing their assets within the Creditcoin ecosystem and interacting with dApps across both networks.

  • Choose Swap Direction: Select whether you want to convert wCTC (Ethereum-based) to CTC (EVM) on the Creditcoin Mainnet, or vice versa. This bridge works both ways. However, SwapCTC only works in one direction when swapping G-CRE to Mainnet CTC (EVM). Remember, gas fees will be deducted from the sending side, so ensure you have enough balance to cover these costs.
  • Send Tokens to the Bridging Address: After choosing your swap direction, simply send the appropriate tokens [either wCTC or CTC (EVM)], depending on your selected direction) to the address provided. You can also scan the QR code from your wallet app to utilize the bridge.
  • Confirm the Transaction: Once your tokens are sent, the SwapCTC tool will initiate the bridging process. You can expect to receive your converted tokens at the same address you used for sending within the processing window.
  • Leverage wCTC for Liquidity on Uniswap: Once you've converted CTC (EVM) to wCTC, you can find liquidity on Uniswap. Head to Uniswap to trade wCTC directly on the Ethereum network, unlocking additional liquidity options and flexibility within the DeFi space.

Please ensure that you only send tokens in the CTC (EVM) format, as CTC (Native) is incompatible with SwapCTC. For all swaps, users should send tokens to the following address: 0xC53D4C0acd8dBCbD8155D8F1aabeA7Cb716c9BfC

What Does SwapCTC Offer Users?

This update unlocks new possibilities for both Ethereum and Creditcoin users. Here’s how you can benefit from the expanded access across networks:

  • Seamless Access to the Creditcoin Ecosystem:With this simplified swap process, Ethereum users can move their assets to the Creditcoin Mainnet, where they can interact with decentralized applications (dApps) built specifically for Creditcoin. As the ecosystem grows, this provides unique opportunities to leverage Creditcoin’s specialized services and infrastructure.
  • Earn Rewards by Staking:Once users have transferred their tokens to Creditcoin’s Mainnet, they can convert Mainnet CTC (EVM) to MainnetCTC (Native). This enables staking within the Creditcoin network, a great way to participate actively and earn rewards. For more details, you can follow our tutorial and learn everything you need to know about the specific functionality of Creditcoin tokens.

With these cross-network options, Creditcoin users can now tap into Ethereum’s liquidity, while Ethereum users can explore the Creditcoin ecosystem’s unique opportunities. This interoperability strengthens both ecosystems, enhancing access, functionality, and potential rewards. If you have questions or need assistance, don’t hesitate to reach out to the Creditcoin team on Discord or email us at [email protected].

Receiving Your CTC (EVM): Tips & Tracking

Once your tokens have been swapped, you can check your Mainnet CTC (EVM) balance using Credit Wallet or MetaMask.

  • Credit Wallet: Enter your mnemonic to view your Mainnet CTC (EVM) balance once tokens have been added. If you haven’t already done so, you can download Credit Wallet for your mobile device.
  • Block Explorer: To explore transaction details, visit Creditcoin Blockscout.

Adding Creditcoin Network to MetaMask

If you prefer MetaMask, follow this guide to add the Creditcoin network:

For detailed steps on connecting MetaMask, check out the MetaMask Connection Guide.

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