- Overview
- How do I view ckETH transactions?
- Swapping ETH to ckETH
- How is Internet Computer Protocol integrated with Ethereum?
Overview
Chain-key Ether (ckETH), a multi-chain Ether twin on the Internet Computer, is an ICRC-1-compliant token that is backed 1:1 by Ether (ETH) such that 1 ckETH can always be redeemed for 1 ETH and vice versa.
The ckETH minter canister is responsible for both minting ckETH tokens when users transfer Ether to its control and burning ckETH when handling Ether retrieval requests.
ckETH transactions are facilitated through a ledger canister, which in conjunction with archive canisters, tracks ckETH account balances and transaction history between accounts. An index canister provides access to ckETH transactions associated with individual accounts.
How do I view ckETH transactions?
You will can view ckETH transaction on the Internet Computer dashboard here.
How is Internet Computer Protocol integrated with Ethereum?
The Ethereum integration enables the use of chain-key (ck) tokens such as ckETH and ckERC-20 on the Internet Computer, including ckUSDC or ckUSDT to vastly extend the capabilities of ICP DEXs for users to swap, or transfer tokens for cents with 1-2s finality. Using ckERC-20 tokens, users can swap and transfer tokens for a few cents with 0 gas fees.
Swapping ETH to ckETH
Ethereum holders can acquire ckETH using these five easy steps:
- Obtain an ICP principal or wallet address.
- Deposit your ETH: Ethereum holders can deposit Ether to the deposit function in the ckETH helper contract on Ethereum 0x7574eB42cA208A4f6960ECCAfDF186D627dCC175 and specify their ICP principal or wallet address in step one where they want their minted ckETH to appear.
- Mint ckETH: The ICP ckETH canister smart contract will then mint the same amount of ckETH to the indicated ICP principal or wallet address.
- Use ckETH: The ICP principal or wallet address can now use ckETH natively on the Internet Computer.
- Convert back to ETH any time: When the ICP principal wants to convert ckETH back to ETH, they can request the ckETH canister smart contract with the ETH amount and Ethereum address to which they want to send the ETH. The wallet address 0xb25eA1D493B49a1DeD42aC5B1208cC618f9A9B80 will send the ETH to the wallet address noted here.
A detailed step by step tutorial explaining how to swap from ETH to ckETH and back on various platforms is available here.
Further resources:
https://internetcomputer.org/ethereum-integration
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