Ariadne and cross-chain ruminations.
We planned for Ariadne to be a cross-chain facilitator (not at start, but at v.3.0), so how do we achieve it and how will the token be used?
So, we want to jump (err, ape) from something into something. LPs to farms, for example, across blockchains. Suppose we heard there’s an excellent yield that incentivized by a L2 provider or some new degen hotness, we want to remove all “boomer liquidity” from an older system and jump to the new one.
To ensure cross-chain operation Ariadne will build an isolated environment for the off-chain oracles (or guardians) where they will build consensus on the actions of all involved blockchains, think of it a a quasi-blockchain.
This is the environment where our main para-token will be issued. This will ensure its independence from the main currencies of any blockchain supported by Ariadne. However on each blockchain we will also have a wrapped version of this token which can be stored on the regular wallets.
On each supported blockchain our para-token can be purchased with the native currency of this particular blockchain, ETH for Ethereum, BNB on BSC etc. Those funds will be stored in the liquidity pools on each of the blockchains, the pools will be used later when Ariadne services are ordered and para-token is used to pay for gas.
Basically the worth of the para-token will be ensured by the weighted basket of the native currencies of all the blockchains supported. Since all the balances of liquidity pools will be constantly changing we need a way to rebalance these pools according to the flexible weight model. This will be done via a governance system where weights are set up by the para-token holders and rebalancing actions are carried out by the off-chain oracle consensus.
There will be two states for the para-token: wrapped and native. In the wrapped (or liquid) state it will be a regular token on a particular blockchain and can be transferred to any other account without any limitations (within this particular blockchain of course). However once it becomes native it enters a different state where it is available simultaneously on all the blockchains. And internally we will just unwrap the token to its native quasi-chain.
Considering all the above here is the process how our para-token is used for paying for Ariadne-powered transactions. Once the transaction path is approved by the user its total fee is calculated in the native currencies of all the blockchains involved. It is then converted to the para-token and summed up. User para-token balance should be in the native state to authorize the payment to Ariadne. Once approved the token balance is burned and liquidity from the pools of the native currencies is used to pay for transactions in each of the chains of the Ariadne path.
That’s it folks. You just pay all transaction costs with a single token. Trustlessly. The v3 is not yet around the corner, but we will get there.
