Bridge Network : A Decentralized Cross-Chain Hub

tldr; All the tools you need to transact cross-chain

Today, we exist in a multichain universe growing faster than we can keep up with. Navigating this new world is still something left to be discovered. Atleast up until now.

Introducing Bridge Network

Bridge Network is a decentralized hub providing all the tools for users and creators to move cross-chain. The protocol aims to be a one-stop shop for all cross-chain activities. It hosts a suite of sophisticated tools that enables frictionless movement across both EVM and non EVM blockchains.

The Bridge ToolKit

The bridge toolkit is currently made up of 4 tools:

  1. The Rockefeller — Create your own bridge: Often referred to as the “uniswap of bridgesthe Rockefeller is a first of its kind tool that allows any token issuers to easily deploy a bridge for their asset and earn fees when users transact via their bridge. No coding or development experience is required.

Interoperable Tools

The bridge network protocol is inherently scalable with all the tools connected to each other. When a token issuer deploys a bridge for their token using the Rockefeller, it is automatically added to the token bridge (the Vanderbilt). Token issuer may opt to integrate the bridge directly on their website for ease of access to the end-user.

The Bridge Network Stack

Taking a token multichain

Never before were token creators able to deploy their token multichain without excessive development or manual integration into existing bridges. The Rockefeller allows tokens to quickly scale cross-chain in a secure environment. In order to deploy a bridge, the token issuer is required to stake a certain amount of $BRG tokens. This staked token is then burnt at the end of each month.

Unlike existing solutions, once a bridge is deployed for a custom asset, neither the token creator nor the Bridge network protocol have access to the smart contracts that locks and mints the wrapped asset. This tremendously reduces risks and secures the bridge.

Security

The Bridge Network protocol has integrated the LSS standard to be proactive in its security measures. The LSS standard is a hack mitigation tool and is used to oversee the smart contracts, detects fraudulent activity and freeze/ revert funds. Token creators have the ability to enable this feature which acts as a security guard for their bridged token smart contracts.

$brUSD: A Cross-Chain Stablecoin

The Bridge Network Protocol uses its own stablecoin which is backed 1:1 by DAI, USDC and BUSD. The stablecoin is used to make cross-chain liquidity accessible. On each supported blockchain, there exists a brUSD liquidity pool against the most active token or stablecoin on the respective network. For example ETH/brUSD on ethereum or SOL/brUSD on solana or BUSD/brUSD on binance chain.

Liquidity for the these pools is created via yield farming incentives or issuing bonds(using the olympus bonding mechanism).

Why do it all?

Two words: Liquidity fragmentation.

Liquidity fragmentation

Liquidity fragmentation occurs when there are multiple versions of the same asset that cannot be exchanged for each other. In the world of multichain, liquidity fragmentation is further amplified since liquidity exists on different networks.

For example. Let’s say Bob wants to convert his RenBTC on ethereum for wBTC on polygon. This is nearly impossible since 1) they exist on different networks and 2) no cross-chain liquidity pools exists. In order to complete this transaction, Bob would need to convert RenBTC to USDC on ethereum, bridge USDC to polygon, then buy wBTC with USDC on polygon. An unsustainable process in a multichain world.

Liquidity unchained

The Bridge Network protocol allows liquidity to flow seamlessly cross-chain. This is made possible by the bridge tools working together to allow for frictionless transactions and a user-friendly experience.

In the same example above, all the steps required for Bob to complete his transaction is automatically executed in one go using the carnegie, the cross-chain trading tool. It looks something like this on the back end:

But on the front end, all Bob sees is this:

The $BRG Token

The Bridge token($BRG) is used to secure the network and facilitate the deployment of bridges along with other liquidity incentives and governance mechanisms. Features and functionality of the token includes:

  1. Required for deploying custom bridges

Please note $BRG is not currently live as yet. Beware of scams.

Come BUIDL with us

Bridge Network was created from our own struggle in moving cross-chain. It is our goal to ensure that every user in crypto is able to move across networks in a hassle-free environment. We are passionate and excited to be building the tools that will remove barriers and connect communities. We welcome anyone looking to build cross-chain tools. Join the community to contribute and be part of the future of cross-chain.

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