Today marks a significant milestone for the Injective Bridge as it introduces its highly anticipated Ionic upgrade, representing the most substantial enhancement to the bridge to date.
This upgrade signifies a pivotal moment for the Injective Bridge as it transitions from being tethered to the Injective Hub to emerging as a fully autonomous bridging solution. By doing so, it consolidates the capabilities of IBC, Wormhole, and native Ethereum into a unified ecosystem.
One of the key highlights of this upgrade is the integration of the latest Wormhole Gateway standard by Injective, ensuring that tokens bridged through Wormhole seamlessly transform into Bank assets.
Notably, this adjustment impacts several markets currently operational on Helix, including SOL, ARB, and WMATIC, alongside assets such as USDC, PYTH, and CHZ.
Users holding open orders within these markets will be required to migrate their orders to the new market listings. Similarly, individuals possessing legacy Wormhole assets of SOL, ARB, WMATIC, USDC, PYTH, or CHZ must migrate these assets to the updated Wormhole assets.
Background
Previously, tokens bridged into Injective via Wormhole were designated as CW20 tokens. While these tokens served their purpose, they lacked the seamless interoperability required for optimal performance within the Injective environment. CW20 tokens, although functional, needed to undergo a conversion process into Bank denom tokens to unlock their full potential within the ecosystem. This conversion facilitated compatibility with essential components like the Injective Exchange module and apps such as Helix, ensuring a smooth user experience.
With the upgrade to Injective's bridge to include the latest version of Wormhole, users no longer need to manually convert their Wormhole assets into Bank assets. This process now occurs automatically with the new upgrade, significantly enhancing the seamlessness and efficiency of bridging for end-users.
Helix Market Listings - How To Migrate
The upgrade impacts several markets, namely SOL, ARB, and WMATIC. To distinguish these affected markets, the original listings for these assets will be marked with a "Legacy" tag. As a result, the SOL market listing will be denoted as "SOLlegacy," the ARB market as "ARBlegacy," and the WMATIC market as "WMATIClegacy."
Users with open orders in these markets should move them to the corresponding new market listings. To accomplish this, users can cancel their existing orders on the legacy market and place new orders on the updated market.
The new market pairs are:
- SOL/USDT: https://helixapp.com/spot/sol-usdt
- WMATIC/USDT: https://helixapp.com/spot/wmatic-usdt
- ARB/USDT: https://helixapp.com/spot/arb-usdt
The market listings will have the exact same trading parameters as the legacy markets, but will utilize the newly bridged Wormhole assets.
Helix Assets - How To Migrate
For users with tokens previously bridged into Injective via Wormhole, identified by the "-LEGACY" suffix, transitioning to the new standard is highly recommended and straightforward.
Navigate to the Injective Bridge.
When clicking on the “Migrate” button on the top of the page, a banner will appear to allow you to check any eligible assets to migrate. Click “Check Wallet” to continue.
Next, you will be able to view a list of legacy Wormhole assets in your wallet. Click on the “Migrate” button to send legacy assets from Injective to Wormhole and deposit the updated assets back to Injective.
The Injective bridge provides a user-friendly interface for this migration process, ensuring a smooth transition without compromising on security or efficiency.
For more information on the Injective Bridge upgrade, check out the Injective blog.
About Helix
Helix is the premier decentralized crypto exchange. Helix provides access to unlimited crypto assets and perpetual markets with market leading rebates. Best-in-class security, near zero fees, lightning fast speeds, cross-chain capabilities and a fully on-chain orderbook on Helix provide the optimal gateway to bring crypto trading to the masses. Helix is built on Injective, the interoperable layer one blockchain for building powerful exchange, DeFi, derivatives & Web3 applications.