I spent a lot of time on this project, due to the pending Airdrop to which all holders of UNI or SUSHI on Dec 7, 2020, were eligible.
The Official Guide to claiming your PNG Airdrop is Pangolin Exchange Tutorial
We were warned that you need to set aside at least 3 hours for the task due to the complexities, but within a shortened timeline, due to the expiration date of Mar 9 rapidly approaching. I have to give props to u/gamma001 who did the initial guide and then reposted by u/Alexiskif with further annotations on the Redditt r/ethfinance channel, for the best guide that I had seen and subsequently followed.
The ramifications of this on how EnergiSwap is taken forward is that it uses 2 separate chains on their Avalanche Network and needs another bridge to move assets between their own Network and the Etherium MainNet.
First things first - you have to set up your Metamask for the Avalanche Network
First, open your MetaMask account and click where it says Ethereum Mainnet”. Then choose to add a “Custom RPC”
Enter the following details:
- Network Name: Avalanche Network
- New RPC URL: https://api.avax.network/ext/bc/C/rpc
- Chain ID: 0xa86a
- Symbol: AVAX
- Explorer: https://cchain.explorer.avax.network/
Your Metamask should then look like this
Buy a few AVAX on Binance or KuCoin. When you have your AVAX you’ll need an Avalanche Wallet to withdraw your tokens. You can create this wallet here - AVAX Wallet
Once that’s created, you have 3 addresses (X, P, and C). You’ll need to using the X chain address to receive your funds which is where you’ll send your funds to.
You need to click on the Cross Chain tab and move the AVAX from the X-chain to the C-Chain which will then be used to pay transaction fees in AVAX
A separate bridge is required to move a UNI or SUSHI from the ETH MainNet to the Avalanche Network -
Use the bridge to move some SUSHI or UNI tokens to the Avalanche Network and then back
Once that has been completed go to the AIRDROP TAB on the Avalance and wait after you have connected your MetaMask on the Avalanche Network. After a few seconds, a message pops up which says CLAIM x PNG
Click the button then you get this message
PNG now shows in your MetaMask and on the Pangolin Exchange
Now you can go through the Bridge to get your coins and tokens back onto the ETH MainNet and cash out or HODL
LESSONS LEARNED:
- Swapping between a project's MainNet and the Etherium MainNet should not be so complicated
- Too many steps involved in completing the task
- Any move to and from the ETH chain is expensive in GAS FEES and may put off regular folk
- Complicated bridges rather than Oracles may limit the growth of DeFi until a BETTER WAY is found
The Avalanche Network has some advantages, with its high speed and virtually zero gas prices, made possible by using their own gas token
However, they have at least 3 separate chains which need to be transparently bridged automatically, without the complexities of moving from one chain to another. They also have a very off-putting and 'expensive' bridge to the ETH MainNet
EnergiSwap would do well to learn from this as they implement their bridge or oracle
