Eywa Token Bridge
Last updated
Last updated
The Eywa Token Bridge lets projects present their token on other networks by locking their assets in smart contracts and issuing the token’s derivative on other networks. Our bridge allows you to move issued derivatives between blockchains in all directions, without having to return to the original token lock network using CDP. Eywa Assets use the bridge too.
Regardless of the differences among protocols, rules specifications and governance mechanics of these networks, a usage of the Eywa Token Bridge makes it possible for users to move assets among these chains in a reliable and secure way.
The Eywa Token Bridge consists of the Portal and Synthesis smart contracts located in each of Blockchains: 1, 2, 3, and uses the Eywa Cross-chain Data Protocol (CDP) to transfer cross-chain calls between them:
To move values among blockchains, the Eywa Token Bridge uses synthetic assets (s-tokens). S-tokens are created whenever someone needs to move the asset between two blockchains.
Consider an example: Bob moves the X-token from Blockchain 1 to Blockchain 2. We use the following approach:
Bob sends the transaction to the Eywa Token Bridge, the original X-token is locked in the Portal smart contract in Blockchain 1, this transaction triggers an event in the Bridge smart contract. This event is tracked and processed by oracles of the Eywa Oracle Network.
They verify incoming transactions and make cross-chain calls of smart contracts in destination blockchains. In our example, Bob’s transaction will trigger the Synthesis smart contract in Blockchain 2, which will issue the synthetic s_X token in Blockchain 2, backed by the X token locked in Blockchain 1.
At the same time, Bob can perform a reverse conversion at any time and take the original asset X.
Transferring tokens from one blockchain to another using the Eywa Token Bridge is a complex cross-chain operation. The user can track its execution in the interface in real time.
The Eywa Token Bridge uses Gasless to pay for transactions. The user can pay the commission with the native asset of the source network (ETH, BNB, AVAX...).
Only tokens whose smart contracts have been thoroughly audited by the EYWA team are added to the EYWA Token Bridge. The audit takes into account many characteristics of the project, and also examines the code of smart contracts for the presence of logic for moving and locking user tokens, which potentially creates a danger to user funds. Only tokens whose code complies with all security rules are allowed to be moved.
