How to Bridge from Solana and Borrow on Teller

Teller Protocol

• 2 min read
How to Bridge from Solana and Borrow on Teller

Bridging assets between blockchains is essential for users who want to transfer their tokens across different networks.

This step-by-step guide will show the process of bridging tokens from Solana to Ethereum/Base using PortalBridge (a trusted cross-chain bridge that allows users to move tokens seamlessly between Solana, Ethereum, Base, and other chains).

Prerequisites:

  • A Solana wallet (e.g., Phantom, Solflare)
  • An EVM wallet (e.g., MetaMask, Rabby) for Ethereum/Base
  • Enough SOL to cover transaction fees on Solana
  • The token you wish to bridge (e.g., USDC, SPX6900, etc.)

PortalBridge Access:

Step 1: Choose Source and Destination Chains

  1. From field (Source Chain), select Solana.
  2. To field (Destination Chain), choose either Ethereum or Base.

Step 2: Connect Wallets

  1. Connect to Solana:
  • On the PortalBridge page, click on "Connect source wallet".
  • Select Solana and connect the Solana wallet (e.g., Phantom).
  1. Connect to Ethereum/Base:
  • Next, connect the Ethereum/Base wallet (e.g., MetaMask, Rabby) by selecting the appropriate chain on the right side.

Step 3: Select Token and Amount

  1. Choose the token you wish to bridge. PortalBridge supports a variety of assets like USDC, SPX6900, and others.
  2. Enter the amount you want to transfer.
Note: The token must be supported on both chains. PortalBridge will show if the token needs to be wrapped for compatibility.

Step 4: Initiate the Transfer

  1. Click "Next" to continue.
  2. A transaction prompt will appear on your Solana wallet. Review the details, and then approve the transaction.
Note: The transfer process will take a few minutes, as the bridge needs to validate the transaction.

Step 5: Confirm the Transfer to Ethereum/Base

  1. Once the transaction is processed, you’ll be prompted to redeem the tokens on the destination chain.
  2. Click "Redeem" on PortalBridge.
  3. Approve the transaction in your Ethereum / Base wallet (MetaMask or Rabby).

Step 6: Complete the Transaction

Once confirmed, the tokens will appear in your Ethereum/Base wallet.

Once the tokens are in your wallet go to Teller and connect your wallet, search for the token to be used as collateral for a loan, then deposit and borrow.

Note: Make sure the Ethereum / Base wallet has enough native ETH to cover gas costs.

Why use Teller to borrow?

  • No liquidations
  • Perpetual loans
  • Fixed interest rates
  • Rollover anytime
  • Loop any token

Need some more info on Teller? Here is a quick guide.

About Teller

Teller is offering a new primitive: perpetual loans without liquidations. Borrow using Bitcoin and 100+ alts. Lend and Earn compounding yield with no impermanent loss.

Ready to Start Bridging and Borrowing? Click Here