How DODO implements cross-chain transactions of tokens and the definition of cross-chain transactions

What is cross-chain transaction?

Among the many blockchain networks, each network has unique advantages and characteristics, and users often obtain various token assets on different chains. To transfer assets between chains, token bridges become an important mechanism. Token bridge allows the transfer of tokens or assets between two different blockchain networks. It acts as a link between different blockchains, allowing tokens to be safely transferred from one chain to another and remain certain. degree of decentralization and security. The general practice of token bridges is to lock tokens on one blockchain and issue equivalent representatives (often called wrapped tokens) on the target blockchain. This process ensures consistency in the total token supply, providing users with the ability to seamlessly use tokens across multiple blockchain environments.

Cross-chain transactions refer to the ability to exchange tokens between different blockchain networks in a seamless, single action. Generally speaking, cross-chain transactions require the use of bridges to exchange tokens, which involves moving assets from one chain to equivalent assets on another chain, and then through some decentralized exchange (DEX) on the target blockchain. ) to conduct token exchange. However, on DODO, cross-chain transactions have become simpler and more efficient. DODO enables multi-chain connectivity through its advanced infrastructure and provides users with a seamless trading experience. Users can conduct cross-chain transactions on different chains through DODO without having to carry out multiple steps and multiple transactions. This efficient single transaction process makes cross-chain transactions more convenient and faster.

How to trade tokens across chains on DODO

Trading tokens across chains on DODO is very simple, thanks to its user-friendly interface. Through the cross-chain transaction function, users can easily exchange between different tokens. This feature acts as an aggregator for different token bridges. Here is a simple step-by-step guide:

Accessing the DODO platform and connecting your wallet is simple. First, open the DODO platform located at https://app.dodoex.io/. Here you can initiate liquidity provision. Connecting your cryptocurrency wallet is necessary, and the DODO platform supports multiple wallets such as MetaMask and Trust Wallet. You also need to choose the blockchain network you want to use. Click the "Connect to Wallet" button to connect your wallet and select your desired blockchain network in the left button. Once your wallet is successfully connected, you can start making cross-chain transactions.

# 2. Navigate to the cross-chain transaction page: In the menu on the left side of the display, click "Cross Chain" to navigate to the correct page.

#3. In the cross-chain transaction interface, select the tokens to be exchanged and the tokens to be received. Make sure to select the blockchain where the source token is located, and the blockchain where the target token is located. These blockchains can be selected in the drop-down menu in the upper right corner of the token.

4. Choose a route: DODO’s bridge aggregator searches various asset bridges to find the best route for your trade. It takes into account factors such as exchange rates and fees to ensure you get the best deal. However, the decision of which bridge to use remains in your hands.

5. Execute the transaction: Click "Send" to execute the transaction. DODO will show you the exchange order information in a small pop-up window, allowing you to review it one last time before clicking "Transfer." Make sure you have enough mainnet tokens on the source chain to pay the gas fee for successful order execution.

Summary

Cross-chain transactions on DODO mark a major leap forward for decentralized finance. It eliminates the need for users to navigate different token bridge processes, providing a direct and seamless way to exchange assets between different blockchain networks. As DeFi continues to expand, DODO’s cross-chain trading capabilities enable users to explore new opportunities, diversify their portfolios, and effortlessly participate in the broader decentralized ecosystem.

The above is the detailed content of How DODO implements cross-chain transactions of tokens and the definition of cross-chain transactions. For more information, please follow other related articles on the PHP Chinese website!