oBTC to woBTC & Back Bridge
The information presented in this blog is not financial or legal advice. It is for informational purposes only. Trade, transfer and hold cryptocurrencies at your own risk and after conducting your own due diligence. The author is not liable for any losses incurred. User is responsible for their own actions regarding cryptocurrency trades, transfers and storage, all of which can carry significant risk of loss. It is advised to check local, national and international laws before trading cryptocurrencies.
NOTE: THIS IS THE USER AGREEMENT YOU WILL SEE ON THE SERVICE WRAPPING WEBSITE.
I Acknowledge and Agree to Each of the following:
This wrapping service is a community initiative and is not directed by PoWx.org.
The Community makes no representation or warranty regarding the present or future value of any digital asset, including oBTC. The “Community” is defined in this Agreement to include the Optical Bitcoin (“oBTC”) community at large (including wrapped oBTC); OpticalBitcoin.com and any person identified on that site; any oBTC owner; wrapping.service; and the officers, directors, members, legal counsel and/or consultants of each of the foregoing.
Because Optical Bitcoin is relying on wrapping.services as the wrapping bridge, the Community cannot predict or make any representation or warranty as to the transaction processing time. The Community understands, but is not making any representation or warranty, that processing time could vary between a few minutes to several days (and possibly longer) depending upon new block generational speed and the number of user swap requests. You are not relying on transactional processing speed in deciding to complete this transaction.
Users must swap at least 100 and no more than 10,000 oBTC and/or woBTC per transaction.
The Community does not provide financial, investment, or legal advice, and nothing on this site or any other domain should be construed as such. You have not relied on any advice, promise, or representation from the Community on this site or any other domain regarding any digital asset transaction.
There are significant risks associated with cryptocurrency in general. You are not relying on anyone in the Community to identify or mitigate those risks on your behalf. You acknowledge that you have performed your own due diligence, independent of the Community, and that you are assuming all risks, whether known or unknown, of participating in this digital asset transaction.
You alone are responsible and liable for any losses you may incur by using or transferring digital assets. The Community is not responsible for loss of any kind, including, but not limited to malicious hacking and losses resulting from theft, loss, or mishandling of private keys. You are assuming each and every risk associated with transacting in cryptocurrency.
This transaction may be subject to various laws, regulations, and statutes in the jurisdiction in which you reside You are responsible for determining what laws, if any, apply, and whether you are in compliance. The Community makes no representation with respect to the legality of any digital transaction in any jurisdiction.
The Community is not responsible for developing a sustainable market for oBTC, and it makes no representations or warranties concerning the real or perceived value of digital assets. There is no assurance that an active or liquid trading market for the tokens will develop, or, if developed, will be sustained.
In consideration of using this wrapping service you hereby release the Community (as defined above) and their officers, employees, representatives, agents, legal counsel and directors from any and all actions, causes of action, claims, demands, damages and liabilities of whatever kind or nature, in law or in equity, now known or unknown.
By checking the box next to each statement in this Acknowledgement, I am representing that I have read, agree with, and will abide by each statement and that I understand the legal consequences of this Agreement, including that I am releasing the Community from all liability, waiving my right to sue the Community, and assuming all risks of utilizing this service and entering into the contemplated digital asset transaction.
NOTE: You’ll need to agree to all these above to use the wrapping service. If you don’t, you will not be able to use the service.
That’s a wrap! A day late and many gray hairs later, the bridge has launched!
You can now wrap oBTC to woBTC and go from woBTC to oBTC for the BSC Binance Smart Chain.
Once you are on the bridge website here’s how it will work for oBTC to woBTC:
- You’ll need to wave anything at all that is a right by agreeing to the user agreement. Overkill, maybe. Required though.
- Once you check ALL legal disclaimers and agree you’ll be able to start the wrap process.
- Enter the amount of oBTC you wish to swap. You can swap 100 — 10,000 oBTC per transaction.
- Paste your MetaMask or BSC token wallet address (This guide does not cover that, as should you already have that completely set up and understand how it works before using this bridge.).
- You have the option to receive an email. If you wish to receive an email, click advanced options and enter your email address. Click Swap.
- You will now see the address where you’re sending your oBTC. Copy that address, and send the amount you entered to this address from your wallet. Note: it is suggested to please only send from your wallet not an exchange.
That’s it! In a little while you’ll have your woBTC and ready to transact with it on the BSC network.
The process is reversed for woBTC to oBTC swaps. NOTE: This process is much slower than going from oBTC to woBTC.