Overview
Syndicate Bridge
URL: https://syndicate-bridge.oneledger.network
Syndicate bridge is a blockchain application that provides a transition of tokens between EVM chains. Our team hardworking work on implementaion of Nexus bridge to obtain a transition between multiple chains at once.
Architecturally, the beauty of Syndicate bridge is its simple, straightforward design which features a fast, cheap transactions for the token transfering between EVM chains.
Tutorial
- Bridge interaction ๐ฅ Your first Syndicate OLT
Comparison chart between another bridge implementations (with Ethereum)
OneLedger (Syndicate) | Polygon (Plasma) | Polygon (PoS) | Celo (Optics) | |
---|---|---|---|---|
Centralization | Semi-centralized | Decentralized | Decentralized | Semi-centralized |
Use proxy | yes | no | no | yes |
Supported chains | Ethereum OneLedger | Ethereum Polygon | Ethereum Polygon | Ethereum Celo |
Max process duration | ~4-5 minutes | ~7 days | ~35-37 minutes | ~6-8 hours |
Fees | ~140-220$ | ~400-500$ | ~400-500$ | ~140-180 + relayer fee |
Description of workflow
Currently, developers can use Syndicate Bridge for specific needs to automate DEX cross chain usage behind our contracts with the help of cosigners handling. Cosigner shortly is who verify and sign a transactions for validity, so give it's proof. The group of cosigners called syndicate which regulates the token pegging, detect fraud and oracalize netowork info.
The native chain to make bridge used OneLedger network with the power of OLVM and called orchestrator bridge.
Syndicate bridge has a three-steps architecture, hovewer tokens logics differ in case of token donorship. Let's introduce a quick example.
The native currency on the OneLedger is OLT token. In case of Ethereum it's pegged representation will be sOLT (means syndicated). So sOLT token is syndicated token and native OLT is donored. In combination it represent the following schema for user when he cross-chain transfer from OneLedger to Ethereum:
- Locking OLT amount on the OneLedger bridge;
- Obtain syndicate signatures for proof;
- Ethereum bridge mints syndicate token representation in the same equivalent as sOLT token;
So it is always 1-1 representation for the token. The next scenario, when user wants to get a donored token back, next schema will be applied:
- Ethereum bridge burns sOLT syndicate token representation;
- Obtain syndicate signatures for proof;
- Unlock OLT amount on the OneLedger in the same equivalent;
In terms of smart contract functionality, only 2 transactions will be used:
- enter function to lock (donor) / burn (syndicate);
- exit function to unlock (donor) / mint (syndicate);
Briefly:
- All cross chain tokens have 1-to-1 equivalent;
- Only two transactions used - enter (on source chain) and exit (on target chain);
- Each exit requires syndicate proof;
Token issuing flow
As example let's take OneLedger to Ethereum flow
NOTE: same flow for all cross-chains EVM networks
- User send his crypto to a bridge on OneLedger network (enter / enterETH);
- OneLedger network will store info about this operation, will lock if token is donored or burn if token is syndicated;
- Syndicate orchestrator will see the commit result of enter operation and should ask SAO for validate a proof;
- SAO roundrobinly will sign the transactions with 2/3 voting power and will make it available for user;
- User obtain syndicate's signatures for next process;
- User send transaction to a bridge on Ethereum network (exit) with obtained signatures;
- Ethereum network will store info about this operation, will unlock the 1-to-1 equivalent of tokens if token is donored or mint 1-to-1 equivalent if token is syndicated;
- Syndicate orchestrator will verify exit to be on sync for both chains;
Smart contracts stack
Syndicate bridge maintains a set of smart contracts on OneLedger, Ethereum, Binance, Matic, which handle the following:
- Bridge Token contract which is a syndicated token equivalent for donor token;
- Bridge Token Manager for verification 1-to-1 connection;
- Bridge Cosigner Manager verificator for syndicate;
- Bridge Router the main orchestrator for all 3 contracts above;