nBridge, Inter-Chain ERC20 and How To Not Get Rekt By Bridges (unique assets & shared-security) [Cosmos, Evmos] [ELI5]

1. Today: fragmented assets, fragmented security, fight for trust and monopoly

2. Evmos and the ERC20 Cosmos SDK module

3. nBridge and Inter-Chain Contracts

3'. nBridge, Inter-Chain Standards, and the BridgeGuild

  • a BridgeGuildWrapper smart contract converts bridge-specific wrapped assets (e.g. madWETH, multiWETH, ceWETH ...) to a unique instance, inter-chain compatible (e.g. IC_WETH)
  • each bridge that joins must pass a 3rd party audit and cross-audits from other bridge teams. Only in a guild do you have the right incentive to do such an audit with care. And who better to review your code if not other bridge specialists?
  • bridges declare how much they are open to guarantee like any financial institution does to pass as a financial institution; a well-thought slashing mechanism
  • or, a way to pay back the other bridges in time, with additional interest if your bridge gets hacked
  • the bridge-specific contract can be halted by the bridge team (as it happens now)
  • inter-chain swap smart contract and inter-chain Cosmos SDK modules can be halted by chain governance, in an urgent proposal

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