Expand Existing Token
Last updated
Last updated
On chains where token already exists UTS offers a lock-and-unlock bridging mechanism, similar to mint-and-burn but requiring additional liquidity for bridging. This guide will walk you through how to expand existing tokens using UTS.
First, navigate to UTS via the navigation bar on the Entangle website.
Enter the address of the tokens that are on different chains which you wish to link. You can select the chain by clicking on the icon. In this example we're using the USDT addresses on BNB and Polgygon.
Make sure you read and understand the messages before checking them. Once you're ready click the "Import Tokens" button to move on.
Now you should decide which networks to deploy on. Here you can choose your prefered bridging mechanism but remember the total supply will remain unchanged since the token already exists. If you don't want to add new chains (as in our example) click "Skip & Deploy".
After signing the transaction to confirm deployment of the smart contract you be automatically redirected to the next step.
You have now completed expanding the existing token. However, to bridge tokens that exist on more than one chain, you're required to have liquidity locked into UTS Connectors. To find out how you canc achieve this, you can follow this guide to lock liquidity on connectors for bridging.
