Import / Export Tokens
Move tokens between Sifchain and other blockchains
A note on Gas
In order to move assets between Sifchain and an external Blockchain, you will use the 'Import' feature, as possible through our implementation of Peggy and IBC. We use Peggy when importing and exporting between Sifchain and Ethereum, and we use IBC when importing and exporting between Sifchain and other Cosmos-based blockchains. A few key things to understand about these features:
Peggy - Import / Export from the Ethereum Network
Gas Fees with Peggy
1) In order to import assets from Ethereum to Sifchain, you will need some ETH in order to pay for the gas fees to execute this transaction.
2) In order to export assets from Sifchain back to Ethereum, you will need Sifchain ETH in order to pay for the transaction fees. You will also need a very small amount of ROWAN to pay the gas fees to execute this transaction.
Time it takes to execute a transaction with Peggy
In order for an import transaction from Ethereum to Sifchain to be recognized, it needs to go through 50 Ethereum confirmations. This means that this transaction can take anywhere between 10 and 20 minutes to be recognized on Sifchain.
Exporting assets from Sifchain back into Ethereum requires significantly fewer confirmations and should only take ~1 minute to be recognized on Ethereum.
IBC - Import / Export from the Cosmos Ecosystem
Gas Fees with IBC
1) In order to import assets from Cosmos-blockchains to Sifchain, you will need some of the source-chain token in order to pay for the gas fees to execute this transaction. For example, if importing from CosmosHub, you will pay gas in ATOM.
2) In order to export assets from Sifchain back to a Cosmos-based blockchain, you will need a very small amount of ROWAN to pay the gas fees to execute this transaction.
Time it takes to execute a transaction with IBC
Most IBC transactions are processed in under 10 minutes. However, some can take upwards of 60 minutes to be fully processed.