The word on the street is that Xodus is gearing up for its presale event. In light of this, we want to show you how to participate and get in early before the crowd. People familiar with the world of crypto, know that once the crowd frenzy sets in such a token becomes the center of attraction, thereby creating a vicious demand and supply circle that tends to push the price of the token upwards.
As an early bird that is good news for your investment and good news for the platform you just invested into — a sign that such a project has what it takes to create a pull in the market.
We see so many token tanks before they even leap into the crypto market. With Xodus, everything is in place to ensure such never happens. The target for Xodus is to create a token of real value that continues to hold relevance even after the crowd frenzy has settled.
Let’s now move on to the first step of the process — acquiring funds and bridging them to the Fantom chain.
How to Acquire Funds and Bridge Them Over to Fantom Chain
Many users often find it difficult to transfer funds out of CEX to where they want to use them. Or they struggle to get the needed token for a presale event. This is where bridging comes in. There are platforms you can use to bridge your token and swap it for the token needed to participate in the Xodus presale event, which will be discussed in the next section.
The token that you will need to participate in the Xodus presale event is the DAI token, and in this guide, you will know how you can bridge your funds to the Fantom Opera Chain and swap them to DAI in order to enter the presale event.
Moving FTM From CEXs to Metamask
If you happen to have FTM on the CEX wallet then you can move it into your Metamask wallet, which could prove tricky depending on which exchange you are using and where you are located.
According to FTM users on a Fantom Reddit thread, it seems Binance is the best bet among the CEX to get FTM and send it to Metamask; it is closely followed by Kucoin. Their withdrawal seems affordable compared to others. However, the main Binance is not available in some locations like the U.S. where a watered-down version is only available in the form of Binance.us.
So those are some of the things that make getting FTM off CEX tricky but that is not to say it can’t be done. If you do get the FTM into your Metamask wallet, you still need to bridge it to the Fantom Opera Network and swap it to DAI to participate in the Xodus presale event.
Apart from buying FTM from centralized exchanges, there are other means you can use to get FTM. Either by swapping your other digital assets to FTM or getting them from decentralized exchanges like Sushi and Uniswap.
However, you will still need to bridge the FTM token to the Fantom Opera Chain.
How to Bridge your FTM Token to Fantom Network
SpiritSwap and SpookySwap are two of the platforms that Xodus developers recommend to bridge your FTM onto the Fantom Opera Network. Both bridges allow you to swap digital assets from one chain to another one. In the back end, both platforms rely on the Multichain (Anyswap) technology to bridge assets. After bridging, assets can then be swapped and converted to DAI to be stored in your wallet.
Bridging on SpiritSwap
Another means of bridging FTM tokens onto the Fantom Opera Chain is through the use of SpiritSwap. Here is how to successfully bridge on the SpiritSwap protocol.
1. Connect your Wallet
Connecting the wallet
The first step is connecting your wallet. Without connecting your wallet you will not be able to select the blockchain networks that you want to bridge.
2. Choosing Networks and Token
Select the networks and token
You can now proceed to select the networks and the token you want to bridge. In this case, the aim is to bridge the FTM token from another blockchain network such as Ethereum to Fantom Opera Chain. So, you select Ethereum as the source blockchain network and Fantom as the destination blockchain network. After which you will select the token you are bridging, which is the FTM token.
3. Input the Token Amount
Input token amount
After you are done selecting the FTM token, you then proceed to input the amount of FTM tokens you want to bridge. There is a minimum and maximum value of FTM tokens that you can bridge.
4. Bridging the Token
Bridging the token
The final step is for you to click on the “Bridge Token” button. Once you click on it, your crypto wallet pops up to ask for transaction confirmation. Once confirmed, the inputted token amount is deducted from your wallet then the bridged Fantom chain token is added to your wallet.
How to Swap Your Bridged FTM Token to DAI on SpiritSwap
Once you have the bridged FTM token deposited in your wallet, you need to swap the token for DAI. This is the way it can be done on SpiritSwap.
SpiritSwap: swap page
1. On the right-hand panel of the SpiritSwap webpage you will find the exchange tab. Click on it to head to the swap portal where you can initiate the process of swapping your FTM tokens for DAI.
Connect your wallet
2. You connect your wallet, which should now be on the Fantom Opera Chain. After which you select the two tokens that you want to swap. That is FTM for the DAI stablecoin.
Select the tokens
3. Input the FTM token amount that you are swapping for DAI.
Input the token amount
4. Initiate the swap process by clicking on the “swap” button.
Bridging on SpookySwap
The SpookySwap portal
Bridging on SpookySwap allows you to bridge from Ethereum, BSC, and others to Fantom and vice versa. This is essential to the presale on Xodus as this will enable you to swap your assets into DAI after bridging your FTM onto the Fantom Opera Chain. Remember that when bridging FTM tokens, you will need a small amount of FTM for gas fees.
This is how to Bridge on SpookySwap:
1. Choosing Networks and Token
Choosing the networks and the token
The first step is knowing and choosing the appropriate network that you want to bridge from or to. On one end of the bridge is Ethereum or any other network you are bridging from and on the other end is the Fantom network you are bridging to.
Know that SpookySwap will not support BSC-ETH or ETH-BSC bridging. It is strictly any supported network to Fantom and vice versa. So, once you have selected the right network, it is time to choose the token you want to bridge and connect your MetaMask wallet.
Connecting the wallet
2. Input the Token Amount
Once you have chosen the token, you then proceed to input the amount of the token you want to bridge. Every token has a minimum and maximum value that is supported by the bridging technology behind SpookySwap. In your case for the Xodus event, your aim is to bridge your FTM token to Fantom Opera Chain. So, you input the amount of FTM token you want to bridge to the Fantom chain from other blockchain networks.
3. Time to Bridge the Token
Bridging the token
After putting in the amount you want to bridge, you will be able to click on the “Bridge Token” button. Once you click on it, your MetaMask crypto wallet pops up to ask for transaction finality. Once confirmed, the inputted token amount is deducted from your wallet and you should have your bridged Fantom chain token in your wallet.
Please note that for any transaction that exceeds 24 hours, there may be a need to use the Anyswap Explorer Tools to force through the transaction.
Bridging as It Occurs
Be on the lookout for a popup, which should be just at the top right corner of your computer screen. The popup will confirm to you that the bridging has started. At the start of the initial transaction, there will be a toast on that same top right corner. It shows the transaction as it progresses on Anyswap.
There will be a green checkmark showing next to “deposit” that indicates that the first transaction of deducting your inputted token amount has been completed. It is after this that the transaction of the network you are bridging to will start.
At the completion of the second transaction, which is the bridging of your deposit to the other network, there will be two green checkmarks to indicate that bridging is complete. The second green checkmark will be next to “transfer”. Don’t forget that if you don’t see anything, you may need to force through the transaction.
Bridging on SpiritSwap Bridge is just the same as SpookySwap, the process is very identical. So, once you get the hang of SpookySwap then you should have no problem using SpritSwap.
How to Swap Your Bridged FTM Token to DAI
Now that you have bridged your FTM token to the Fantom Opera Chain. The next step is to swap the bridged FTM token to DAI stablecoin that is needed for the Xodus presale event.
This can also be done on the SpookySwap protocol and here is how to go about it.
1. Switch to the swap page of the SpookySwap protocol
SpookySwap: Swap portal
2. Select the tokens you want to swap from, which is FTM, and select the token you are swapping to, which is DAI.
Select the tokens
3. Setting the amount of FTM tokens that you want to swap to DAI.
Set the token amount
4. Commence the swap process by clicking on the “swap” button.
Swap the token
How to Connect to the Xodus Presale Event
Once you have bridged to Fantom chain and swapped to DAI it is time for the next step in the presale event. That is connecting your wallet to the Xodus protocol to buy some XOD tokens.
To do this you need to visit the Xodus website, click on the presale button, which will take you to the presale event.
You will have the option to input either the amount of XOD token you want or input the amount of DAI token you have, which will show the amount of XOD token you can get. You will be shown the price per XOD token, the total sale amount, and the amount in circulation.
After you are done putting in the amount of token you want to buy, you can proceed to link your Metamask wallet by clicking on the “connect wallet” button. This will prompt Metamask to ask for confirmation of the transaction, which after it is granted initiates the process of buying the XOD token. Once the transaction is completed, you can expect to receive the specified amount of XOD token in your Metamask wallet.
Please note that there is a minimum amount you can buy, which is 250 DAI, and a maximum amount that is 1000 DAI per wallet address. Also, there is a vesting period that includes a linear release over 15 days from the launch date.
Are You DAI Ready to Buy Some XOD Tokens?
As the big event approaches closer and closer, are you DAI ready? In this guide, we have shown you various means through which you can arm yourself with DAI to seize up some XOD tokens. The Fantom Network is about to host a unique protocol in the form of Xodus.finance and the presale event is the best chance for you to get acquainted with the protocol before it hits the general market. An early mover advantage rarely disappoints.
The Xodus is gearing up for one of its most important milestones yet, which is the presale event. This event is likely to show you just how serious the team behind the project is about their vision for the protocol and the XOD token.