Airdrop:Owlto Finance Cross-rollup Bridge Tutorial

cryptowiki
6 min readOct 30, 2023

Owlto Finance is a decentralized cross-rollup cross-chain bridge that focuses on Layer 2, offering users a secure, fast, cost-effective, and user-friendly cross-chain service. It currently supports cross-chain operations between over 15 Layer 2 networks, including the Ethereum mainnet, zkSync Era, Starknet, Arbitrum One, Arbitrum Nova, Optimism, Polygon zkEVM, Linea, Mantle, Base, Manta, OpBNB, Kroma, Zora, and more.

As a relatively new product that launched in June, Owlto Finance has rapidly gained prominence, boasting substantial cross-chain volume and an increasing number of independent wallet addresses. Users from over 100 countries have adopted Owlto Finance in a short time, establishing its leading position in the industry, even surpassing industry giants like Orbiter in terms of network support and transaction volume.

In today’s thriving L2 network landscape, many users and studios utilize cross-chain bridges to interact with popular L2 networks such as zkSync, Starknet, Linea, hoping to receive L2 airdrops. However, it’s often overlooked that, in the midst of all the excitement, shovels can be more valuable than mines. So why should you also pay attention to Owlto Finance as a key airdrop project?

**Ⅰ.**Strong Background and Close Collaboration with Most L2 Official Networks

Since owlto’s launch, Owlto Finance has integrated with official ecosystems such as zkSync, Starknet, Arbitrum, Optimism, Linea, Base, Polygon, BNB Chain, Mantle, Scroll, Taiko, Manta, Kroma, and more.

It has even received recommendations and retweets from these official networks on Twitter.

Additionally, Owlto Finance is one of the three third-party cross-chain bridges recommended by Starknet’s official website, and it is a highlighted recommendation for Linea Defi Voyage and Manta Fest.

This robust background and close relationships with L2 networks suggest that when some L2 networks announce airdrops, addresses that have interacted with Owlto Finance are likely to receive generous rewards.

**II.**No Token Issuance Yet, But an Introduced Point System

While Owlto Finance has not yet disclosed its token plans or specific airdrop details, it’s common knowledge for those who frequently interact with early-stage projects that cross-chain bridges usually reward users based on their usage. Owlto Finance is likely to follow this trend.

Notably, the “Rewards” page features a Point system, where each cross-chain operation earns you corresponding points. Regarding the value of these points, the explanation subtly suggests that an airdrop may be one of the potential benefits.

Moreover, Owlto Finance has been featured on OKX’s Cryptopedia in Phase 7, where Owlto Finance participants accounted for over 85% of the entire project in the first stage and continued for five months as the sole app in the second stage.

This rare distinction indicates that Owlto Finance has a remarkable relationship with OKX. If they decide to issue a token in the future, it’s highly likely it will be listed on major exchanges.

**III.**Security

Security is a top priority for many when it comes to cross-chain transactions. On Owlto, asset transfers occur between two Externally Owned Account (EOA) addresses, mitigating risks such as 51% double-spending attacks. Owlto Finance also places a strong emphasis on the security of its code and contracts, having undergone double audits by Beosin and CertiK. The CertiK security rating is A-level, ranking in the top 10%, which is an excellent indicator of security.

**IV.**Speed and Low Costs

Owlto Finance offers exceptionally fast cross-chain transactions, with most networks taking approximately 20 seconds. This is in stark contrast to official bridges that can take up to 7 days or third-party cross-chain bridges that take minutes to hours. Owlto Finance’s speed significantly improves transaction efficiency.

Moreover, compared to some bridges that charge substantial cross-chain fees, Owlto Finance charges less than $2 or even cheaper. For frequent users and studios, this can lead to significant cost savings.

Although using Owlto Finance for cross-chain operations is straightforward and convenient, here is a detailed step-by-step guide to help all users, especially beginners.

Here are the steps:

  1. Visit https://owlto.finance and connect your wallet.
  • Choose the source and target chains and input the amount.
  • Owlto currently supports four tokens: ETH, USDC, USDT, and BNB. As an example, for ETH, the minimum requirement is 0.0035 ETH. Therefore, ensure that you have at least 0.0035 ETH in your wallet, along with some gas for the transaction.

Cross-chain Fees:

You can see in the “Fee saved” section that Owlto Finance only charges the destination chain transfer fee (DTC). Compared to other bridges that charge 0.0016 ETH to 0.0074 plus 0.01% to 1% of the cross-chain amount, Owlto Finance’s fees are quite reasonable. Therefore, when you have cross-chain requirements, Owlto Finance is highly recommended.

On the confirmation page, you can see that Owlto charges only 0.001 ETH for the destination chain fee. Click “send.”

Successful transactions are typically completed in 15 seconds. Depending on network fluctuations, transaction times may vary, but it’s usually quite fast.

For Starknet cross-chain operations:

  1. Visit https://owlto.finance and connect your wallet.
  • Choose the source and target chains as Starknet, then connect your wallet (I used Metamask and Braavos wallet here) and input the amount.

Confirm the amount and click “send.”

Starknet transactions may take longer, usually around 2 minutes.

Rewards:

Open the Rewards page, and you’ll see a Points system. Each cross-chain operation earns you points, and this is very likely to be one of the factors considered for future airdrops.

Further down, you can see that referring friends also earns you some ETH, which is a real reward and not just based on points or token expectations.

In the top right corner, you can access your transaction history.

Participating in Events: Owlto regularly holds events on Galxe: https://galxe.com/OwltoFinance

Then log in to https://guild.xyz/owlto-finance, where you need to link your wallet, DC, and Twitter to earn specific roles.

In conclusion, Owlto Finance’s rapid success is not merely coincidental but a result of its strong network, outstanding product experience, and user-centric marketing. It has captured the interest of numerous users and stands as a promising project in the blockchain space.”

--

--

cryptowiki

The Wikipedia of the #Crypto world, the airdrop hunter. Through the barbaric era of miners, the ICO era when gold was everywhere, and now the #Web3