Getting Started with Interop
To start using the Interop service, start with the account you want to send assets from. Sign into that DeFi Smart Account on its appropriate network. Under DSA Tools you will find Interop.
For more technical information on Interop please see:
- Getting Started with Interop
- 1) Add Interop as an Authority to the Account
- 2) Select the target DeFi Smart Account
- 3) Select the assets being transferred
- 4) DeFi Position is migrated via Interop
- Interop Explorer
- More Information about Interop
- Cross Chain Transfer Times
- Transfer Fee Minimums
- What if my position is on an EOA account? How do I migrate?
- Why am I being charged for both collateral and borrowings?
- Why does Interop need Authority?
- What do you sign when you use Interop?
- Can I remove Interop as an Authority after I migrate my position?
- I'm new to Instadapp and I don't understand some of these topics
- My migration is stuck or missing!
- When will you add other Protocols/Networks?
1) Add Interop as an Authority to the Account
Interop requires access to your account to complete the migration. If Interop is not enabled as an authority you will be prompted to add it as an Authority.
2) Select the target DeFi Smart Account
Select which account you would like to migrate to. If you do not have an Avalanche account you can select
New v2 to create a new account on the destination chain to migrate your position too.
3) Select the assets being transferred
You can migrate all or some of the DeFi positions. Enter the values for Collateral and Debt that you would like to transfer. You can also toggle
Max to move the entire position.
Note: You cannot leave a position within 5% of its max debt to collateral. If you split a position both positions must be more than 5% away from max debt to collateral after the migration.
During the Beta Phase: resulting positions will need to be within 30% of their max debt to collateral.
4) DeFi Position is migrated via Interop
Cross Bridge when you are ready and submit the transaction. Your position is then submitted to Interop to be generated on the respective account. You will be shared a Interop Explorer Link you can use to review the transaction.
Interop Explorer will allow you to view the operations occurring on the Interop service. You can also view the status of your cross-chain transactions.
More Information about Interop
🔄 Interop works by migrating your position and generating it on your target chain. Confirmation time may vary based on target chain and source chain.
🛑 Incomplete Migrations are reverted and your funds will return to their origin chain and source application. This can occur if the target chain does not have sufficient funds and the migration times out.
💲 Interop charges 0.15% on the total balanced migrated including debt and collateral. i.e. If you migrate a position with 80k collateral and 20k in debt you will be charged for migrating 100k in value.
🐋 Large Migrations (over 1M in USD) may take up to 30 mins to an 1 hr to be received on the target chain.
Cross Chain Transfer Times
|Source Chain||Destination Chain||Migration Time (minutes)||Required Confirmations|
Migration Times may vary depending on liquidity and other factors, in some rare cases migrations may take over 12 hours.
Transfer Fee Minimums
Transfer Fee Minimums take into account both the source and target chain i.e the highest minimum from any included chain is the minimum.
What if my position is on an EOA account? How do I migrate?
In order to use Interop, you will need to create a DeFi Smart Account(DSA) and migrate your position into your account. You can follow this guide to learn how to import your position.
Why am I being charged for both collateral and borrowings?
The migration fee is a flat fee charged on all value transferred including debt. Debt is usually paid back by using flashloans which incurs fees.
Why does Interop need Authority?
Interop service will need Authority to move your accounts collateral and pay back any debt. Interop only requires access to the account you are migrating from.
What do you sign when you use Interop?
You sign a migration transaction similar to when you import an external account. Instadapp migrates your position from your account to the Interop contracts. The Interop validators then send a transaction to create your position in your selected account on the destination chain.
Can I remove Interop as an Authority after I migrate my position?
Yes, you can remove Interop as an Authority. You will be prompted to add Interop if you decide to use it in the future.
I'm new to Instadapp and I don't understand some of these topics
First off welcome! Instadapp is your all in one for all your DeFi needs! Try reading the Quick Knowledge Guide for a quick summary of all the concepts and things you should know.
My migration is stuck or missing!
First, you can use Interop Explorer to see the status of your transaction. You can see if the transaction failed confirmed or is pending. Remember larger migrations may take up to 12 hours. If you are still having issues you can reach us on Discord or via email.
When will you add other Protocols/Networks?
At this time no other protocols will be added to Interop until we complete the Beta phase. We plan to run Instadapp Interop in Beta for 2 to 4 weeks depending on the results and other factors.