TLDR; Bridging just got reliable.
Bungee’s approach to building bridges is simple. We identify user pain points and attempt to build a simple & easy-to-use solution to drastically improve user experience. This approach has allowed us to create a range of features & products that have now become an essential component of the web3 ecosystem.
Today, we’re taking it a step further to make bridging more reliable for everyone with Bridge Protection on Bungee.Exchange.
Bridges are Fragile
Bridging, as it stands, is a technology still in its infancy, which makes it very susceptible to failures. If you’ve been a bridgoor for a while, you must’ve encountered some of these challenges:
- Experiencing frustratingly long bridging times, sometimes resulting in funds being stuck for nearly 24 hours.
- Ending up with an intermediary token (such as anyUSDC, hUSDC, or axlUSDC)
- Unfortunate events of bridges getting hacked.
These experiences have left countless users stranded in their quest to explore new protocols across different chains.
But what if there was a solution? What if users could bridge with peace of mind, free from worries?
Introducing Bridge Protection…
Building a Robust & Reliable Bridge
Say goodbye to all these worries and bridge confidently.
With Bridge Protection by your side you are assured to have a smooth bridging experience. Your funds will delivered to you within 30 minutes, no matter what.
Bridging on Bungee with Bridge Protection enabled ensures:
- Guaranteed bridging time, receive your funds within 30 mins. Always.
- Guaranteed delivery, receive funds even if bridge gets hacked.
- Guaranteed promised assets, no more intermediary tokens.
All this comes at a nominal protection fee in our mission to make bridging reliable, seamless, and hassle-free for everyone.
The swiftness of on-chain resolutions
Bridge Protection is a result of the partnership between RiskHarbor & Socket, embodying their commitment to transparency and algorithmic resolution. This means that the entire process is on-chain and automated.
Here’s how it works:
- Toggle on Bridge Protection while bridging against a nominal protection fee.
- If, for any reason, the transaction is not completed within the 30 minutes after initiation, the desired funds will be instantly transferred to you from an underwriting pool.
- This means no need to worry about cumbersome forms, voting cycles or delays. The automatic resolution kicks in as soon as the clock hits 30!
Simple & efficient always. Experience the seamless power of on-chain resolutions with Bridge Protection on Bungee.
Try it out now
Now that you know how convenient Bridge Protection is, its time you try it out 😋
Check out this tutorial to get started
We’re genuinely excited for you to try Bridge Protection out as it embarks a new start, where bridges are built with UX at its core.
We appreciate the feedback & the support from our beta testers who’ve truly helped shape Bungee into what it is today 💛
FAQs
- What Bridges and chains are supported right now?
Bridge Protection on Bungee currently supports Multichain & Hop Routes for USDC to USDC transfers. Supported chains are Arbitrum, Polygon and Optimism. We will soon expand this list aggressively. - What if I don’t get my funds even after 30 mins?
Bridge Protection is completely on-chain & automatic no forms, KYC or middleman to worry about, you will instantly be transferred your bridged amount as soon as the clock hits 30 mins. - What is the Maximum amount I can protect?
Users can protect up to 1000 USDC per transaction while in Beta. These limits will be increased progressively throughout Beta. - What if the Liquidity pool runs out of liquidity on some chain?Underwriting pools are refilled automatically, as bridging transactions complete. Bungee UI will also clearly show available amounts that can be protected based on the underwriting pool size.
- How is the fees calculated?
To be able to protect your transactions against bridge delays, liquidity issues, bridge hacks we charge 0.1% of transaction amount for Hop Routes & 0.2% for Multichain routes as a protection fee.
