FST Goes Cross-Chain, with Native Bridging between Ethereum and Avalanche
Futureswap’s governance token, FST, can now be bridged one-to-one between Ethereum and Avalanche, with gas fees paid in the respective chain’s token. This is the first oracle-less bridge deployed to another L1 from Ethereum.
Given our four pair exchanges supported across Arbitrum and Avalanche, we built a path towards cross-chain governance and making FST a true multi-chain token. We partnered with the leaders in the inter-blockchain development space, Celer Network, to make this possible using their Celer Inter-Chain Message (Celer IM) framework.
Bridge now at x.futureswap.com/bridgefst
What this means
This update means cross-chain governance. Users can vote on governance proposals on Ethereum for changes on the protocol in Avalanche, and vice-versa. Soon, users will also be able to use a bridge for Arbitrum.
This is the first time, as far as we’re aware, that an oracleless bridge has been deployed to another L1 from Ethereum. Many other protocols are doing this manually, while claiming they’re doing so in a decentralized manner. Naturally, this is an attack surface, and one our bridge avoids entirely. By opening up cross-chain governance in this way, we’re expanding crypto’s ability to move across chains seamlessly, bringing the entire DeFi ecosystem closer together.
Also, there are no FST fees to transfer between Ethereum and Avalanche. Instead, the gas fees and bridge fees are paid in the native protocol token. This means that when you bridge X amount of FST on chain A, you receive X amount of FST on chain B. This helps bridgers with far more predictability on how the transaction will execute and cost.
To help break it down and dive into the details, our CEO and co-founder, Derek Alia, will join a Twitter Space AMA with Mo Dong, the CEO of Celer Network. Join the call on Wednesday, May 4th, 2022 at 1pm PST at x.futureswap.com/celerama. You can set a reminder there, or listen to the recording if you missed it. Your only chance to ask questions will be live on the call though — we hope you can join us.
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