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WOOFi Pro currently only support native deposit of USDC on Arbitrum. But you can also deposit with assets on other chains by leveraging the composability of WOOFi's cross chain swap.
When using any asset other than USDC on Arbitrum, the asset will be swap and/or bridged via WOOFi swap and there will be swap fee and additional gas fee for cross chain messaging.
If you want to avoid additional fee, please deposit with native USDC on Arbitrum in a bridgeless manner.
Performing cross-chain transaction requires you to pay an additional amount of gas tokens on the source chain in order to cover the gas fees required to conduct operations (e.g. swap asset and deposit) on the destination chain. Depending on the chain, congestion, and any other variables that may increase gas prices (these are not set by WOOFi) the amount required will vary.
We include the exact amount of additional gas tokens charged in our confirmation window when submitting a cross chain deposit. These are paid directly to Stargate/Layerzero, therefore we are not in control and are unable to refund. Please make sure that you understand this and have an appropriate amount of funds available to avoid any failed transactions.
Once you submit a cross chain deposit, you will be able to see the status of your deposit via the transaction link on the swap confirming pop-up.
Typically it only takes a few minutes to complete a transaction. However, transactions CAN take longer in certain circumstances. This is completely reliant on how much congestion is being placed onto the Layerzero network. Transactions from Polygon may also take slightly longer (~20mins without congestion) due to fundamentally different settings on Layerzero and the way the chain interacts.
Clicking 'View status' will take you to layerzero/scan explorer revealing the status of your swap.
- PENDING - Your transaction is still being processed and has not been finalized.
- DELIVERED - Your transaction has been delivered to the destination chain.
If you have modified the gas amount for your swap, then your transaction will only be processed once gas fees reach the level you input.
If a cross-chain deposit fails, we will refund your funds to your address. If the failure occurs before the completion of the bridge, the funds will be returned to the chain from which you initiated the transaction. If the failure happens after the bridge is completed, the funds will be returned to the same address on your target chain.
Please note the refund could be in another assets, typically it will be refunded with the assets used in the bridging process, such as stablecoins or ETH.