Everstake validator: 0x573F5E2940789B378BA09cf7d3fD010C422a9ff5
Your trusted staking partner
deBridge is a generic messaging and cross-chain interoperability protocol that enables transfers of any arbitrary assets and data between blockchains. The ultimate idea is to interconnect any smart contract on any chain to facilitate true interoperability, flexibility, and user experience for protocols, applications, and users.
The deBridge protocol is an infrastructure platform and a framework for:
- decentralized transfer of arbitrary data and assets
- cross-chain interoperability and composability of smart contracts
- cross-chain swaps
deBridge commenced in April 2021 during the Chainlink Global Hackathon where the team strived to solve the urgent problem of transferring assets and data between blockchains and the lack of a single decentralized standard for bridging assets. The project was awarded the grand prize and took first place among more than 140 teams worldwide.
It's a generalized insured interoperability protocol that allows users and protocols to transport not only assets but also arbitrary messages or call_data cross-chain. The ability to pass arbitrary data opens up opportunities for true cross-chain composability of smart contracts and protocols that now can interact with each other despite they live in different blockchain ecosystems. An example would be an algorithmic stablecoin protocol in Ethereum that opens positions in perpetual markets protocol on Solana or Arbitrum in order to maintain the peg of its asset.
6 blockchains. These include Ethereum, BNB Chain, Heco, Polygon, Arbitrum, and Avalanche.
The validation of cross-chain transactions is performed by a network of independent validators who are elected by and work for the deBridge governance. Validators maintain the blockchain infrastructure and run the deBridge node to sign all transactions that pass through deBridge smart contracts in different blockchains.
Staking is not yet enabled, it is expected ~in Q3 2022.
Validators play a crucial role in interoperability protocols since, in addition to being infrastructure providers, they also secure the protocol by validating all cross-chain transactions passing through the protocol. Validators work for and are elected by the governance and should bear financial responsibility for the service they provide through the risk of being slashed in case of validating a non-existent transaction or long downtime of the infrastructure.
Anyone can help to secure the protocol by being a delegator and staking assets (e.g. ETH, USDC) for validators’ collateral. Both validators and their delegators receive part of the protocol fees as an economic incentive for helping to secure the protocol and maintain its infrastructure.
Any user/wallet can increase the collateral of any validator if he believes that this validator is reliable, knows how to manage infrastructure and there won't be any breakdowns and delays in the transaction's validation process performed by this validator.
The whitelist of assets that can be staked is managed by governance. Initially, only ETH, USDT, and USDC assets will be available for staking. Stablecoins allow hedging collateral during periods of market volatility to avoid shrinking of total collateral USD value during the bear market stages.
The deBridge protocol will be controlled by a DAO with decentralized governance which allows all token holders to participate in the future growth, and have a word in the future decisions regarding protocol parameters, and treasury management.
The protocol consists of 2 key layers:
- Protocol layer — on-chain smart contracts deployed in every blockchain supported by deBridge. The protocol layer is a set of on-chain smart contracts that are used for asset management, routing of cross-chain transactions, cross-validation of validators' signatures, and reaching consensus among validators as the transaction is treated as valid only if the minimum required threshold of validators' signatures is achieved. The governance manages the parameters of the smart contracts, such as fees, supported chains, the whitelist of elected validators, validators payout ratio, and more.
- Infrastructure layer — off-chain validation nodes operated by validators who are elected by deBridge governance. The infrastructure layer is represented by a set of reputable validators who operate a deBridge node alongside full nodes of every blockchain supported by the protocol.
Projects can integrate with deBridge infrastructure to tap into the various cross-chain opportunities:
- Build own custom bridges for assets and NFTs preserving custom NFT logic (e.g. breeding)
- Let users from other blockchain ecosystems interact with their protocol
- Scale-up their protocol to other chains and exchange commands/messages between components of their protocol
- Make their protocol composable with protocols from other ecosystems