In recent years, the rapid development of various public chain ecosystems has gradually formed a pattern of coexistence of multiple chains, leading to the sharp rise of cross-chain asset demand for users.
According to the data of 18 major cross-chain bridges collected by @eliasimos in Dune Analytics, as of April 2022, the TVL of these cross-chain bridges has reached about 20.2 billion US dollars, which account for 8.21% of current DeFi TVL ($246bn). Although it is relatively independent for each DeFi ecology, multi-chain interoperability has become an inevitable need for well development. “Cross-chain” is becoming the most popular technology in the crypto world.
Since the underlying protocols, rules or governance models vary from public chains, it is difficult to transfer tokens and data between different blockchains. Therefore, people have been exploring the “Inter-Blockchain” technology, hoping that the value between different public chains can overcome various obstacles and realize a direct circulation.
One of the two main ways for cross-chain assets is the cross-chain bridge, the core of which is the asset mapping. It provides a compatible way to allow tokens, assets and data to interoperate securely between two different public chains with different underlying protocols, rules or governance models. Under this scheme, one chain catches real-time transactions’ data on the other chain through the oracle machine, and one asset circulates on the two chains. When assets are transferred from public chain A to public chain B, new assets will be minted on the second one. To achieve the balance of assets on the two chains after the cross-chain transfer, the same amount of assets will be burnt on the public chain A.
Another way of cross-chain is multi-chain aggregation. By building a cross-chain transaction pool, the liquidity of assets on different chains is centralized. It allows users to add liquidity for the liquidity pools and earn cross-chain transaction fees. What’s more, the transaction aggregator helps users find the best transaction exchange rate and path among networks.
It realizes the non-perceptual one-click cross-chain exchange of assets for users and optimizes the user’s transaction experience. In such cross-chain solutions, users only need to log in to their wallets and manage their assets through the dashboard.
GateChain’s original cross-chain protocol GateBridge is a decentralized cross-chain protocol that optimizes multi-chain aggregation solutions. Mining and lending functions help users to provide asset appreciation channels and improve capital utilization. GateBridge provides a cross-chain protocol based on liquidity pools, which redefines the concept of liquidity pool in a more broad sense.
It brings a brand new market marking model and a unique order book pattern.
GateBridge is designed on a four-layer cross-chain structure:
- Network: GateBridge supports almost all smart chains in the market based on EVM and ensures fast and secure asset transfers between all the supported chains.
- Market Liquidity: GateBridge defines the liquidity pool in a broad sense, bringing in the Cross-Chain Automated Market Maker role within the cross-chain transfer or swap.
- Settlement: Transactions are settled via smart contracts with the authorisation and signature performed using the private keys, which help achieve safe, fast and low-cost cross-chain transfers and settlements on a three-layer ledger model.
- Application: GateBrige provides an easy-to-use and intuitive interface to facilitate a better user experience.
GateBridge has completed the integration with more than 10 main blockchains including Ethereum、GateChain、Polygon、BSC、Fantom、Arbitrum、Avalanche、Heco、OKExChain、Klaytn. Anyone can create a cross chain liquidity pool with GateBridge by adding liquidity to the asset pool before proceeding with the swap between 2 tokens.
There are several solutions for you to create or complete swaps between blockchains GateBridge supports including Ethereum, GateChain, Polygon, BSC, Heco, OKExChain, Klaytn.
PS：
- ONE cross chain pool corresponds to ONE token
- A cross chain pool is based on TWO blockchains and cross chain is available only between those TWO blockchains at a time
Complete swaps with an existing liquidity pool
GateBridge officials will create some liquidity pools for many tokens that are traded in the market, using USDT as an example:
USDT liquidity pool on GateBridge supports the following 9 widely used blockchains for user’s convenience and asset transfer facilitation:
- Ethereum：0xdAC17F958D2ee523a2206206994597C13D831ec7
- GateChain：0x4151Ab5072198D0843CD2999590Ef292F49d6c66
- BSC：0x55d398326f99059fF775485246999027B3197955
- Polygon：0xc2132D05D31c914a87C6611C10748AEb04B58e8F
- Heco：0xa71EdC38d189767582C38A3145b5873052c3e47a
- OKExChain：0x382bB369d343125BfB2117af9c149795C6C65C50
- Fantom:0x940f41f0ec9ba1a34cf001cc03347ac092f5f6b5
- Avalanche:0xc7198437980c041c805a1edcba50c1ce5db95118
- Arbitrum:0xfd086bc7cd5c481dcc9c85ebe478a1c0b69fcbb9
Note:
- Poor swap ratio or swap failure can occur if the targeted blockchain has low liquidity issues.
- A positive swap ratio will be offered to users when the liquidity for the targeted blockchain is better than the initial ‘swap from’ blockchain. Please make sure the targeted blockchain has good liquidity before you proceed with the swap.
Adding liquidity to an existing liquidity pool
If there is a cross chain pool for a token on GateBridge but it does not offer tradable liquidity then users will not be able to complete the swap.
Token issuers or token holders need to add assets into the pool to add liquidity:
- Connect to the corresponding blockchain on GateBridge, for instance GateChain.
- Select a blockchain in the blockchain options to add liquidity to.
- Only blockchains added on the GateBridge page are available for adding liquidity.
- Enter the desired token amount in the pop-up and confirm.
Users providing liquidity to the cross chain pool will receive a transaction fee reward share, at a ratio of 0.3% per transaction.
Create a cross chain pool for an existing token
You can submit a request on the GateBridge page to create a cross chain pool for you if there are no pools that meet your needs and you have deployed your token contract address on different blockchains.
Please select the desired blockchain you wish the cross chain pool to support and enter the existing contract address on the request page. Please make sure to enter only the contract address of blockchains that GateBridge supports.. GateBridge will notify you via email once the cross chain pool is created.
GateBridge cross chain request page can also be used to request adding more blockchain options for an existing cross chain pool. Creating a cross chain pool will have 0 fees.
Issue tokens and create a cross chain pool
You can issue a token on Hipo.com and deploy an ERC-20 token on the targeted blockchain when you run into the following situations:
- If you cannot find a cross chain pool you need GateBridge.
- An existing cross chain pool does not support a certain block chain.
- The targeted blockchain has not deployed the ERC-20 token contract address.
You can create a cross chain pool with the “Create a cross chain pool for an existing token” guide after issuing the token you need and add liquidity to the pool.
About GateChain
GateChain is a next-generation public blockchain, focused on on-chain asset safety and decentralized trading. Its uniquely designed Vault Account is primed for handling abnormal transactions. GateChain presents an extraordinary clearing mechanism, tackling the challenges of asset theft and private key loss. Decentralized trading and cross-chain transfers are also supported, alongside with other core features.
Official website: https://gatechain.io/
Twitter: https://twitter.com/gatechain_io
Telegram: https://t.me/gatechain
Medium: https://gatechain.medium.com/
Discord: https://discord.com/invite/TADecrzfcP
GitHub: https://github.com/gatechain
