It has been a long road. The journey thus far has been full of amazing memories and unexpected challenges, but it’s time for the next chapter of Charli3 to start. It’s time to give the “wen cnt” question its answer! The Charli3 team is proud to announce that the C3 token is taking its rightful place on the Cardano blockchain. That’s right, the C3 token is officially going to be a Cardano Native Token (CNT)! We couldn’t be more excited to share this news with the community!
What does this mean for the Charli3 community? What do you need to do? What new opportunities can you look forward to with the C3 CNT? This article will give you an overview of everything you need to know, with more detailed instructions (step-by-step guide) and video tutorials to follow shortly after.
The initial bridge that will be publicly accessible was created by the stellar teams at Nomad and Milkomedia. This bridging process will not be as simple and as inexpensive as the originally proposed bridges, but it is the only way that we can achieve this important milestone right now. We understand that this might be your first bridging experience, so have no fear, we will be here to support and walk you through every step of the process.
It is important to note that this bridging process is a one-way bridge, meaning you will be able to send your ERC-20 C3 tokens and receive CNT C3 in exchange. Do not attempt to send your CNT C3 across this bridge, you will not get anything on Ethereum in exchange. You are welcome to keep your C3 on the Ethereum blockchain (as an ERC-20 token) to wait for other bridging options. Just remember there will be no future support or utility for the C3 ERC-20 token.
Exchanges and Yield Farming opportunities
The first liquidity will be deposited on SundaeSwap on April 30th, at 16:00 UTC. To C3 holders who participated in the Cardstarter CSWAP Migration Contract, your SundaeSwap LP tokens will be claimable through the Dripdropz.io platform at this time. The bridge for all remaining ERC-20 token holders will go live one hour later at 17:00 UTC. The ability to begin yield farming $SUNDAE tokens on SundaeSwap will be available straight away!
It is very important to us that the community is able to navigate this transition period with as little volatility, and slippage as possible. To facilitate this, Charli3’s CTO, Jonas, will be manning the helm on liquidity, adding more when and where it is needed.
Look out for the C3 CNT on the following Cardano DEXs! come trade the CNT and farm, please, BeOuRgUeSt
- SundaeSwap (yield farming available) — immediately
- Minswap — directly after
- MuseliSwap — just after
- Wingriders — probably a few days later
As a final note for our ADAX CEX users: the ADAX CEX will offer the ability to convert your ERC-20 tokens to CNT within their platform (as an alternative option to the bridge outlined above). This will be a relatively simple 1 step process on their platform.
*Further announcements on other CNT opportunities will follow.*
What about the MLabs Bridge?
We anticipate the MLabs bridge will be made available in the near future. However, due to the critical importance of the C3 CNT to Charli3 (and the overall ecosystem), we simply can not wait any longer to bridge the C3 token to the Cardano blockchain. We feel very fortunate to be working with Nomad and Milkomeda, and they have offered us an extremely secure and reliable solution. We ask that you please refer to Cardstarter’s “ETH to ADA Migration” Medium article for more details on the status of the originally proposed bridge. Here is a quote from MLabs:
“Our team at MLabs have been working hard to bring the bridge to a production-ready state, While testing some of our recent changes for performance, we’ve identified potential vulnerabilities which need to be addressed in order to responsibly handle funds with the CardStarter bridge. We’ll need more time for testing and to conduct a security review. MLabs further (strongly) recommends a third-party audit of the code. On recovering from a bridge shutdown checking the BPI for a cardano tx hash, events come through in the wrong order, and it closes the connection before getting the right data. This seems to also lock up the database such that status requests fail.”