Converting RDDL to PLMNT
This guide aims to explain the conversion of RDDL to PLMNT tokens on the network.
Last updated
This guide aims to explain the conversion of RDDL to PLMNT tokens on the network.
Last updated
A wallet application (e.g.) for transferring the RDDL tokens on the Liquid Network
RDDL tokens to send
LBTC tokens to pay for the transaction fees (on the Testnet: )
An authorized recipient (machine) on the planetmint network.
Query the RDDL 2 PLMNT service of the Testnet or the Maintnet by calling https://testnet-r2p.rddl.io/reciveaddress/ or https://r2p.rddl.io/receivaddress/ with your planemtint address appended, e.g. for address plmnt1atfrnm80xyg86s85xp0av2ukap8n4ap7pevptm
this looks as follows
or .
This call will return a JSON object with the following data:
{ "liquid-address": "tlq1qq2e96fx7t0gvtq9lhk3vg7qwf7s08479ap3wqyelp2c4ds9y7wesk97fd0sla2s7qck4ezns3gy6s8h4qw3e2tqkyfnkvxs4u", "planetmint-beneficiary": "plmnt1atfrnm80xyg86s85xp0av2ukap8n4ap7pevptm" }
Use the wallet of your choice (e.g. ) to transfer RDDL tokens on the Liquid network to the liquid-address mentioned above
The Liquid address will be supervised for 12 hours, and the funds being received on that address by the next transaction will be converted to PLMNT tokens on planetmint and, after that, transferred to the before-mentioned planetmint address/beneficiary (e.g. plmnt1atfrnm80xyg86s85xp0av2ukap8n4ap7pevptm).
More elaborate documentation about the service and a sequence diagram can be found in its .
In essence, the service acts as a bridge between the Liquid blockchain and PlanetMint blockchain, facilitating the minting of PLMNT tokens based on certain conditions met in the Liquid blockchain.