BMI Bridge

https://app.bridgemutual.io/user/bridge-bmi-stkbmi
  • The BMI bridge uses Wormhole.
  • ​The BMI bridge allows users to transfer BMI and stkBMI tokens across Ethereum, BNB Smart Chain, and Polygon networks.
  • Users have to bridge (lock) ETH tokens to get them on BNB or POL. They can also bridge tokens from BNB to POL and vise-versa.

Why bridge BMI tokens?

Claiming and voting process is available on all chains.
To make a claim, 1% of the total cover size BMI fee must be submitted to the protocol on the respective chain.

Why bridge stkBMI tokens?

Currently, the only native BMI staking pool is on Ethereum. Therefore If a claim is made on f.ex. BNB chain, in order to vote, users have to bridge their stkBMI tokens (the proof of staking in the native BMI staking pool) to the BNB chain and lock them in the BNB Voting Contract.

What does the bridging process look like?

Bridging BMI tokens from one chain to another requires four steps:
  1. 1.
    Selecting the chains between which the tokens should be transferred, token type, and their amount.
  2. 2.
    Confirming the target wallet.
  3. 3.
    Approving the allowance and the transaction.
  4. 4.
    Redeeming the tokens.

What if I don't redeem my tokens?

If you finish step 3. but don't redeem your tokens right away, they will be available to redeem in the "Redeem recovery" sub-tab at the top of the "Bridge BMI/stkBMI" page.
You will need the transaction id from step 3 to resume your transfer.