Tutorial: how to use the BRZ Token Bridge

The BRZ token bridge is a tool that allows sending the BRZ token from one blockchain to another, in a simplified way.

BRZ is a stablecoin paired with the Brazilian Real, that is, 1 BRZ is always worth R$1. It is an ERC-20 token which was published first on Blockchain Ethereum and later on other networks such as Binance Smart Chain and RSK.

Imagine that you have BRZ on one blockchain network, but would like to use it on another.

Now you can do it with the BRZ Token Bridge!

You can send your tokens to/from:

  • Binance Smart Chain
  • Ethereum
  • RSK

In this way you can enjoy the best of each network :)

Overview

The following topics will be presented:

  1. What is a Token Bridge
  2. Testnet — blockchain networks for testing
  3. Metamask — web wallet
  4. Configuring networks in Metamask
  5. Blockchain’s Cryptocurrency
  6. Faucets
  7. BRZ Faucet
  8. Using the Token Bridge
  9. Fees in Token Bridge

1- What is a Token Bridge

A Blockchain network is isolated, automatically it has no communication with another Blockchain.

The token bridge provides a connection that allows the transfer of tokens or data between two different blockchain ecosystems.

It is a way to achieve interoperability between networks and an opportunity to take advantage of other blockchain benefits, such as cheaper rates, network speed, different decentralized finance protocols, and many options that come up every day.

Since the BRZ is issued centrally by Transfero, the token bridge can also be managed by the same entity.

You will create a transaction to send BRZ on the source blockchain, wait a few minutes, and see the balance on the chosen destination blockchain.

To understand how it works, you can make transactions on test networks, free of charge and without fear of making mistakes.

2- Testnet — blockchain networks for testing

A testnet is a network with the same characteristics as the main network of a Blockchain, but its cryptocurrencies and tokens are not worth real money.

We have BRZ on the test networks:

  • Binance Smart Chain Testnet
  • Ethereum Testnet Rinkeby
  • RSK Testnet

You need a wallet to store your cryptocurrencies and tokens, and there are several types.

This version of BRZ Token Bridge is integrated with web wallets, those that can be installed as a browser extension.

In this tutorial I am using the Metamask web wallet, created for the Ethereum network, which can be customized to present the BRZ token easily, besides facilitating the configuration of the Binance Smart Chain and RSK networks.

3- Metamask — web wallet

Metamask is a type of web wallet for sending transactions via the browser. It has versions for several browsers, such as Chrome, Firefox, Opera and Brave.

You can get more information and install using this link:

https://metamask.io/

Install and keep very safe the 12 words of the backup phrase!

4- Configuring networks in Metamask

The Ethereum Testnet Rinkeby network is already configured in the wallet, but you need to add the other test networks for Binance Smart Chain and RSK.

The easiest and fastest way to configure networks is by accessing the Token Bridge

https://testnet.bridge.brztoken.io/

In the upper right corner, click Connect Wallet

Select Metamask

The first time you do the process, you need to authorize the connection in Metamask.

In the popup window, click on Next and then Connect

The bridge by default starts with the Ethereum Rinkeby network selected.

If you do not have the same network selected in Metamask, it will ask you for permission to change the network.

Binance Smart Chain Testnet

To add the network Binance Smart Chain Testnet, do the following steps:

  • In Starting Chain
  • Select Network Binance Smart Chain Testnet

Metamask will ask for approval to add the network and select it.
Click on Approve , and then on Switch network.

You are ready!
Now you have the Binance Smart Chain Testnet network configured in Metamask!

RSK Testnet

The process for adding RSK Testnet is the same:

  • In Starting Chain
  • Select Network RSK Testnet

Metamask will ask for approval to add the network and select it.
Click on Approve , and then on Switch network.

Done!
Now you have the RSK Testnet network configured in Metamask!

5- Blockchain’s Cryptocurrency

Each Blockchain has its own cryptocurrency.

It is used to pay fees for transactions with BRZ on the network.

For example, to send BRZ on the Ethereum network, you need to have ETH to pay transaction fees.

6- Faucets

In the test networks there are faucets that give some of that Blockchain’s cryptocurrency.

Here are some links to get you cryptocurrencies for testing:

Binance Smart Chain Testnet

https://testnet.binance.org/faucet-smart

Ethereum Testnet Rinkeby

http://rinkeby-faucet.com/

https://faucet.rinkeby.io/

RSK Testnet

https://faucet.rsk.co/

7- BRZ Faucet

Also, there is a BRZ faucet!

You can get some BRZs on test networks free of charge.

Remember that they are also worthless :)

Go to

https://faucet.brztoken.io/

In the first time, you need to authorize Metamask to interact with faucet

The BRZ Token faucet automatically detects the network and address that are selected in Metamask, and will send BRZ to this network and address.

For example, take a look on this image:

  • Network: Ethereum Rinkeby
    Destination address: 0xa52515946DAABe072f446Cc014a4eaA93fb9Fd79

You can change:

  • Destination address
  • Amount

Click on Get Tokens button.

Approve the transaction in Metamask.

You are submitting a transaction to the Blockchain, requesting the token transfer to your wallet.

The BRZ Token faucet will notify you when the transaction is confirmed!

Remember that you need to have the Blockchain’s cryptocurrency to pay the transaction sending fee (gas)!

Adding the BRZ token in Metamask

In order to see your BRZ balance in Metamask, you need to add the token in your wallet.

In Faucet, click the Add BRZ to MetaMask button

In Metamask, click Add Token

In Metamask, go to assets.

After the transaction is confirmed, your balance will be updated.

Available networks

  • Binance Smart Chain Testnet
  • Ethereum Testnet Rinkeby
  • RSK Testnet

8- Using the Token Bridge

Go to:
https://testnet.bridge.brztoken.io/

There are only 3 steps:

  1. Select the Blockchain which has the BRZ
  2. Set the amount
  3. Select destination Blockchain

By default the destination address is the same as the origin, but if you want to send to a different wallet, just change it.

Example 1: from Rinkeby to BSC Testnet

I would like to send 1000 BRZs

Source

Network: Ethereum Rinkeby

Address: 0xFE5fc6EDaF23f2BB587127e95A12d8ACfEE5d9FA

Destination

Network: Binance Smart Chain Testnet

Address: 0x27D748CCCc0ba475b2A11211e634073F94633d98

Click on the Transfer button.

Approve BRZ

BRZ is a token in the ERC20 standard.

Before sending a token of this type for use in a smart contract, such as Bridge, it is necessary to approve in the token’s smart contract in order for the Bridge to transfer this token from its wallet.

This process is performed by clicking the Approve button.

This approval may be greater than your balance.

It is common for this approval to be the maximum possible value of the token that a wallet can have, so that this process is carried out only once, and you pay the transaction fee only once.

This does not mean that tokens will be transferred without your permission!

For each transfer, another transaction will be sent with the exact amount to be used.

Here is an example of the Approve transaction in Metamask, in a transfer from RSK Testnet:

Expanding View full transaction details, you can see the amount of BRZ tokens allowed (Amount).

You can modify the quantity by clicking on the Edit button.

Remembering that this amount has to be, at least, how much you want to send plus the rate of the destination blockchain, if it goes to the Ethereum network.

Only after the Approve transaction is confirmed, the Confirm button will be enabled to transfer tokens from one blockchain to another.

9- Fees in Token Bridge

There are 2 fees for transferring BRZ from one network to another:

  1. Bridge fee: is a percentage of the value sent, it is set at 0.1%
  2. Target Blockchain Rate: it is currently only being charged to the Ethereum network, the fee is calculated at the time of transfer, according to network demand.

When you send 1000 BRZ, you receive 999 because the Bridge rate (0.1%) is 1 BRZ.

Also, if you send to the Ethereum network, in addition to the amount sent, the transaction fee will be discounted on the destination blockchain.

Example 2: from RSK Testnet to Ethereum Rinkeby

I would like to send 100 BRZs

Source

Network: RSK Testnet

Address: 0xFE5fc6EDaF23f2BB587127e95A12d8ACfEE5d9FA

Destination

Network: Ethereum Rinkeby

Address: 0x27D748CCCc0ba475b2A11211e634073F94633d98

Pay attention to the Blockchain fee!
To send 100 BRZs, the transaction fee on the Ethereum network at the time of this tutorial was 255.5503 BRZ!

This has been a big issue on the Ethereum network at this time.

It’s one of the reasons for having the BRZ token on other networks :)

Check rates on the confirmation screen.

Automatic update of fee

The blockchain fee on the Ethereum network is constantly changing.

The bridge updates the rate periodically, it is important to accept the update.

In this casem notice that it decreased a little bit :)

The bottom line

This tutorial presented step-by-step how to send the BRZ token from one blockchain to another using the BRZ token Bridge, detailing network configuration and presentation of the BRZ token in Metamask, use of faucets, approval of token by dApps (decentralized applications), fee concepts and the use of Token Bridge to perform the transfer.

I hope this tutorial was helpful and I appreciate it if you have any feedback.

Share the article if you liked it :)

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