The list of problems deBridge strives to solve: Liquidity between blockchains, Inefficient use of liquidity, Anonymous transfer of assets, lack of standard for cross-chain transfers
Inspiration
Cross-chain liquidity transfer is one of the cornerstones in the world of truly decentralized finance. Blockchains are secure but isolated networks that don't have access to the outside data as well as to the state of the other chains. And that's why lots of the users have to rely on third-party services and centralized solutions, which are likely to request private information or be susceptible to censorship, to manage their assets.
The deBridge is aimed to remove the barriers of cross-chain liquidity transfers by building the decentralized bridges between blockchains and the infrastructure around them. The current solution supports transfers between Binance Smart Chain (BSC) and Ethereum (ETH Kovan) blockchains
What it does The deBridge introduces infrastructure and solution for the decentralized cross-chain liquidity transfers.
How we built it The solution consist of 4 parts:
Debridge Core. That is the on-chain part; set of solidity smart contracts for cross-chain transfers.
Debridge Initiator. The bot that monitors the chain and once the event for cross-chain transfer is emitted and the transaction has enough confirmations it initiates the ChainLink (CL) node job.
Chainlink Launcher. The software kit allows the fast setup of the Chainlink nodes for deBridge. The solution does:
Challenges we ran into Chainlink only allows submitting 32 bytes with the core ethtx adapter. Chainlink node can't be configured for few providers at the same time (it should be different instances). No proper docs related to using OCR build own adapters. External initiators are not displayed in the node UI.
deBridge became a winner of the recent ChainLink hackathon, during which we:
What we learned
What's next for deBridge Our initial goal was to create private cross-chain transfers. So our further steps will be: improve the solution architecture as described here.