These are the steps needed to be ready to send your SCR to the Cosmos network for storage in a Leap wallet, trading on the Osmosis DEX, or staking in one of the Cosmos liquidity pools.
Powering up on the new blockchain has not been fully explained as of the writing of this blog, but once our SCR is in the Cosmos network it should be a simple strait forward procedure.
Leap Wallet https://www.leapwallet.io
There are several wallets for the Cosmos Network and SCR may end up on all of them in the future, but our first wallet will be the Web 3 Leap wallet. You can download the wallet to your smartphone, or install the browser extension.
I use the browser extension when I am on my computer and I have the Leap app on my cell phone for use away from home.
Like any other crypto wallet you will need to make sure that you securely store your log-in information and seed phrase. Skipping this simple but important step could lead to a loss of all your funds.
Once your Leap wallet has been installed and you open to your home page you will see your deposit address displayed at the top of the page under your wallet balance. it has an easy one click way to copy it onto your your clipboard just to the right of this address. When the bridge is open from the old Graphene blockchain to the new Cosmos blockchain you will be required to copy and paste this deposit address into the appropriate destination box in order to complete your SCR-SCR transfer.
For your first transfer of SCR across the new bridge and into your Leap wallet you should only send a small amount of coins to make sure that everything is working and that you have followed the transfer instructions properly (Instructions will be released by the Dev Team later)
If you only intend to transfer your old SCR into your new Cosmos wallet then there is nothing else you need to do. But if you plan to immediately begin trading your SCR on the Osmosis DEX then read on.
Osmosis
In order to start trading on SCR on Osmosis you are going to need some Atom coins, and you will also want to have a few OSMO coins to facilitate trades for other coins in the Cosmos network and for paying trading fees.
There are probably several ways to purchase Cosmos ATOM coins inside the Cosmos Network that I don't know about, but it was easy for me to trade for ATOM on a Centralized Exchange and the transfer the coins into my Leap Wallet. Here is a list of Exchanges where you can trade for ATOM;
Once you have ATOM in your Leap wallet you are ready to connect to Osmosis and begin trading. To do this;
- Open and unlock your Leap Wallet
- Open the Osmosis Web Site: https://app.osmosis.zone
- Choose "Connect Wallet" in the upper right corner of the Osmosis home page.
- Sign the authorization pop-ups in your wallet
When that has been completed you should see your balances on Osmosis and be ready to start trading.
Note that the Leap wallet, like Metamask, can be connected to multiple blockchains. The default chain is Cosmos Hub, but you can select the globe in the upper right corner of your wallet to switch chains if you want to use apps on other Cosmos blockchains.
The first thing that I did with my new Cosmos wallet was trade a small amount of ATOM for OSMO coins, then I played around with the exchange and made enough trades to become familiar with the platform.
If you have any questions about the Leap wallet, Osmosis, or the Cosmos network write them in the comments below and if I don't know the answer, I will try to research and find the answer. I know that not everyone has time to spend digging for information or reading through web pages, and since I'm retired and it is probably something I need to know anyway, I don't mind reading through a few technical papers as long as the information is readily available online.
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