AllbridgePrice

(ABR)

The migration involves transitioning from the original ABR token to ABR0, an Omnichain Fungible Token (OFT) utilizing the LayerZero standard. This update unifies the supply across all chains, eliminating fragmentation caused by wrapped versions. Users can migrate at a 1:1 ratio via a dedicated Ethereum smart contract. If your ABR is on other networks, it must be bridged to Ethereum first to complete the swap. The primary utility of ABR0 is a 25% discount on bridge fees when used on the Allbridge Core platform.

Most transactions that seem stuck are actually unfinished. Bridging typically requires two steps: a 'Send' action on the source chain and a 'Receive' action on the destination chain. Users often forget to trigger the second step. To resolve this, you can visit the 'Receive' tab on the bridge interface and enter your Transaction ID to manually claim your funds. Transfer speeds generally depend on the confirmation times of the underlying blockchains, ranging from seconds to a few minutes.

This occurs when using the Classic version of the bridge. In these cases, you receive a wrapped version of the asset, such as Allbridge Ethereum USDC (aeUSDC), rather than the native token on the destination chain. To obtain the native version of the asset, you can use a decentralized exchange (DEX) on the destination network to swap the wrapped token for the native one. This is a standard procedure for maintaining liquidity across different blockchain environments.

When you stake ABR or ABR0, you receive xABR, which represents your share of the staking pool. As bridge fees are collected and added to the pool, the value of xABR increases relative to ABR. On the other hand, veABR stands for 'voting escrow' ABR. It is used for governance within the Staking DAO, allowing holders to vote on which chains should receive the highest rewards. Yields are variable and consist of 80% of protocol bridge fees plus additional emissions.

Allbridge prioritizes security through regular audits by firms like CoinFabrik and maintains an active bug bounty program. While the smart contracts are permissionless, the protocol uses a set of validators to confirm cross-chain messages. This design choice is a common trade-off in the industry, allowing the protocol to offer high-speed transfers and low costs while supporting over 20 different blockchains, including both EVM and non-EVM networks.

You can acquire ABR and ABR0 through various platforms. For centralized trading, LBank provides access to the token. Additionally, ABR0 is available on major decentralized exchanges across the Ethereum, BNB Chain, and Solana networks. Many users also utilize the swap features within popular Web3 wallets to exchange stablecoins directly for ABR0. Always ensure you are interacting with the correct contract address for the migrated ABR0 token to ensure compatibility with the latest protocol features.