Step by Step: How To Transfer Binance Assets to Solana Using Wormhole V2
Today, we announced a collaboration with the Jump Crypto team to set up a 4pool for wrapped wormhole BSC tokens, allowing highly capital efficient swaps to happen between all the major BSC stables and USDC using a single pool.
Once the assets are bridged over from Wormhole, you can use the wrapped assets to swap with any token in Solana.
Before you start, please make sure that you’ve set up a Solana wallet and have sufficient SOL to pay for transactions. You can refer to the guides below on how to set up the Phantom Solana wallet:
How to create a new wallet
How to deposit SOL
Step by Step Guide
In this example, we use BUSD, but it is applicable for any registered BSC asset you want to bridge through Wormhole V2.
1. Go to https://wormholebridge.com/#/transfer. Under the “Source” dropdown, select “Binance Smart Chain”
2. Connect to your Binance wallet and select the token you want to bridge
3. Under ‘Target’, select “Solana” from the dropdown
4. Connect your Solana wallet by clicking “Select Wallet”
5. If an “Associated Token Account” is required — click on the “Create Associated Token Account” button.
Click on the “Approve” in the “Approve Transaction” popup to move to the next step.
6. Click on “Next” to proceed to the “Send Tokens” step
7. Click on the “Approve <x> Tokens” button where ‘x’ is the total number of tokens you are bridging.
Click on “Confirm” in the Wallet popup box to allow the wormhole bridge to use the tokens.
8. Click on “Transfer” to start the transfer from tokens from Binance to the wormhole bridge
Note that a confirmation popup will appear. Click on “Confirm” to continue.
Click on “Confirm” in the wallet popup to continue.
9. Click on “Redeem” to transfer the tokens from the bridge to your Solana wallet.
Note that there will be several transactions and you can click on “Approve” multiple times to proceed.
Congratulations! You have successfully bridged BSC tokens over to Solana.
You can now deposit your wrapped tokens to the Mercurial BUSD-4 Pool and earn some sweet MER!
