How to Bridge to Fraxtal Using Axelar's Satellite

Frax just launched public access to their bridge this week and already many users have been moving assets over. However, as the prices of ETH and BTC are breaking through all-time highs, the cost for bridging from Ethereum to Fraxtal is quite expensive, ranging from $40-$80.

If you are looking for a fast and cheap solution to move into Fraxtal, Axelar's Satellite bridge is the answer. Let's dive into both of these ecosystems so that we can have a better understanding of how they work and how to bridge funds from a very diverse set of networks.

What is Fraxtal

Fraxtal is a modular rollup blockchain (L2) with a "fractal scaling" roadmap. It is set to leverage rollups technology, a layer 2 scaling solution, and will have multiple components and middleware for other chains and networks to use, connect to, deploy L3s, and build on top of. Additionally, it has a separate data availability module developed by the Frax Core Team. This makes it one of the most significant rollup releases of the year, according to Frax Founder Sam Kazemian.

What is Axelar

Axelar is a decentralized transport layer that provides secure cross-chain messages across Web3. It offers a uniform cross-chain messaging solution for developers and users, allowing developers to connect to EVM contracts on any chain without making modifications to their chains or UIs. Axelar's network connects over 50 blockchains, providing a secure, programmable network for global next-generation super apps. The platform aims to offer interoperability and connectivity across multiple ecosystems, allowing users and developers to interact and compose across different chains easily.

What is Satellite

Satellite is a web application built on top of the Axelar Network. It provides an easy to use interface which enables users to transfer their crypto assets from one chain to another.

Getting Started

Satellite is an official front end built by the Axelar team to support cross-chain transfers. You can use Satellite to move funds between many different networks including Fraxtal.

How to Bridge

Go to Satellite. It can be found at https://satellite.money
Choose your network to bridge "From." Make sure Fraxtal is the network selected in "To."

Choose the asset you want to bridge over. All assets are Axelar issued, meaning you will need to swap into frxETH or FRAX once the assets arrive on Fraxtal. Before the official launch date of March 6, 2024, there will be no pairs, so please wait until Curve or RA launches to send funds over.
Choose the amount of the asset you want to send. In this case we are sending over 74 axlUSDC. The fee for sending is 6.5 USDC

Add a destination address. Either put your current address or if you want a different wallet to receive the funds other than your own.
Click Generate Deposit Address

Once the Deposit Address has been generated either send the Axelar assets manually to the address, given, or press "Send From MetaMask."
You didn't have to wait around 25 minutes for the assets to transfer over.
Once they arrive, you can either use them on Fraxtal or swap them into frxETH or other Frax assets.