ParaState-Ethereum Gateway User Guideline

Basic knowledge

Metamask — Chrome Extension

Metamask is a widely used crypto wallet extension for accessing Ethereum-compatible decentralized applications or “dApps” in the web browser.

Metamask enables users to manage Ethereum accounts and private keys. In addition to the Ethereum mainnet and testnet, Metamask also supports Ethereum-compatible networks, such as the ParaState.

How to use Metamask

1. Make sure that you have the Chrome web browser installed
2. Install the Metamask extension from the Chrome Web Store https://chrome.google.com/webstore/detail/metamask/nkbihfbeogaeaoehlefnkodbefgpgknn
3. Create a new wallet or import your existing wallet. If you choose to create a new wallet, be sure to save your new seed phrase. The seed phrase and the private key are the only ways to recover your wallet.

ETH

ETH is the native cryptocurrency of the Ethereum network. Users must pay ETH to the Ethereum network as “gas” to process transactions.

In this article, we use the Ropsten network, the official testnet of Ethereum, to demonstrate how to use the ParaState-Ethereum gateway to swap ETH to the PETH (an ERC20 token on ParaState) and then swap back.

ParaState

The STATE token is the native cryptocurrency of the ParaState. Users must pay STATE to the ParaState network as “gas” to process transactions. The gas STATEs are burnt by the network.

Developers must have STATEs in their wallet account in order to deploy dApps on the ParaState. You can get 1 STATE from the ParaState developer’s faucet. http://faucet.parastate.io/

PETH

The PETH is an ERC20 token on the ParaState network. The PETH is swapped 1–1 with the ETH.

ParaState-Ethereum Gateway

ParaState-Ehereum gateway is the bridge between the Ethereum network and the ParaState network. You can swap your ETH to PETH and back.

See a video demo here:

Swap your ETH to PETH

1. Before you start, make sure your MetaMask connects to the Ropsten Ethereum TestNet.
2. Get 5 test Ropsten ETH Tokens from the faucet. https://faucet.dimensions.network/
3. Visit the ParaState-Ehereum getaway
4. Enter the amount of ETH you want to transfer. The swap limit here is < 0.1 ETH and we will charge you 0.1% of the swap limit as the exchange fee.
5. Click on the Swap button on this website. Meanwhile, MetaMask will send you a gas notification.
6. Click on the Confirm button on MetaMask to pay the gas fee in Ropsten ETH.
7. The ParaState-Ethereum Gateway sends the PETH to your address after a few minutes.

Check out your PETH on ParaState

1. Add the ParaState network to your Metamask
2. Click on the network list and Custom RPC
3. Enter the following information and click the Save button
4. Network Name: ParaState
5. New RPC URL: https://rpc.parastate.io:8545
6. Chain ID: 123
7. Currency Symbol: STATE

Add the PETH Token on the MetaMask

1. Click the Add Token button at the bottom of your ParaState account
2. Choose the Custom Token
3. Enter the following information and click the Next button
4. Token Contract Address: 0xB0b08dF6723820d5648EfE10227EdD492AEB0EC4
5. The Token symbol and Decimals of precision will be displayed automatically
6. You could see your PETH balance now

Swap PETH to ETH

1. Make sure that the MetaMask connects to the ParaState network.
2. Go to the gateway website, and make sure that the arrow indicates PETH to ETH swap.
3. Get 1 STATE from the faucet to pay the gas fee. https://rpc.parastate.io:8545
4. Enter the amount of PETH you want to swap on the gateway website. We will charge you 0.1% of the swap amount as the exchange fee and additional 0.004 ETH as the ETH gas fee.
5. Click on the Swap button on this website. MetaMask will send you a gas notification.
6. Click on the Confirm button on MetaMask to pay the gas fee.
7. The ParaState-Ethereum Gateway sends the ETH to your address after a few minutes.

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