I have been trying to get an answer for about a month on Reddit, but nobody seems to know. Those who tried to bridge ETH encountered the same problem as me - as below:
I used the Allbridge (dot) io bridge to move 4.5 ETH from the Ethereum network (on my Metamask) to the Solana network (on my Phantom wallet). In my phantom wallet I received a token called aeWETH (Wrapped Ethereum Allbridge). Then I wanted to convert it to SOL or USDC in my Phantom wallet. There is no way to “SWAP” it for anything. I also checked on Raydium (dot) io which is supposed to be the Uniswap clone on Solana. There was no way for Raydium to treat aeWETH as ETH. There are no pools for aeWETH. It can’t be staked, swapped, exchanged, or pooled on Raydium.
In the end, I was forced to use Allbridge to convert my aeETH back to ETH on the Ethereum network.
So can someone tell me how to move ETH to Solana in a way which makes it usable?
Hi @Trickyt57 and welcome to the forum!
I believe that many people use Sollet.io to receive wrapped Ethereum using an integration with Metamask.
I think the tokens that you get through that bridge are kind of the de-facto across Solana exchanges, but I’m not 100% positive.
You can also look into Wormhole, but I’m not sure how that differs with the Sollet bridge.
Definitely look into those options and do your own research there, because I haven’t used either yet and I’m not positive the differences between them yet.
After doing a little bit more investigation, it seems like wormhole is the recommended way to bridge ETH to Solana:
Here’s the documentation by Serum on it:
Disclaimer: I haven’t used it, but Serum is reputable and this is what is in their docs, so I believe it’s legit.
Also, I just discovered that it looks like Saber has liquidity for Allbridge wrapped tokens, so you might be able to trade you Allbridge tokens there.
Another disclaimer: I haven’t used Saber yet either.
Edit: Also, it looks like Saber is only for trading between stable pairs like ( one kind of wrapped ETH to another kind of ETH ), so that’s probably not what you want.
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