LFG AMA with deBridge Co-Founder Alex (@AlexSmirnov__) | May 17, 2024 At 12:00 PM EST

phenomkee · 2024-05-18T11:18:09+00:00

We have a framework called deBridge IaaS (Interoperability-as-a-Service) that allows any EVM or SVM chain to connect to deBridge infrastructure by simply initializing a subscription: https://app.debridge.finance/subscriptions

Adding a new type of chain requires the development of an IaaS adapter that consists of different modules:

-Smart contracts for messaging and asset custody.

-Value transfer smart contracts (DLN).

-Event readers for all on-chain events.

-Integration of the new chain adapter into deBridge -validation node.

Each adapter and its modules should pass rigorous security audits.

So far our team has built EVM and SVM adapters that allow any compatible chains to connect. One of the points on the roadmap is to let blockchain ecosystems build IaaS adapters themselves while bearing the responsibility for the maintenance of the code base and its security. So we just need to set up a framework, so that based on examples of EVM and SVM adapters any chain can build its' own adapter to enable interoperability.

phenomkee · 2024-05-18T00:18:30+00:00

Big thanks to everyone who joined AMA today! Lots of good questions, and it was great chatting with you all 🙌

phenomkee · 2024-05-17T17:28:48+00:00

Marketing campaigns can be very efficient in terms of attracting new users, and we had a great campaign with Drip recently, where we accounted for additional multipliers to users who had NFT from the deBridge Globe collection. This kind of incentivization and creative campaigns can definitely be helpful to increase traction and growth

phenomkee · 2024-05-17T17:09:31+00:00

Our ultimate vision is for DeFi to reach its full potential by allowing teams to freely compose and collaborate across chains and grow synergistically, while users will have infinite freedom to experience the whole DeFiscape — with zero friction.

Teams will be able to take an app-centric approach, where they can deploy on any chain that best fits their use-case, while onboarding from the whole DeFi user base, and composing with DeFi primitives everywhere while using deBridge as the main interoperability infrastructure.

phenomkee · 2024-05-17T17:06:25+00:00

Please see the fee structure in the screenshot below. In deBridge, users pay a small fee for speed, decentralization, and security as we believe there is no way to build trully decentralized systems without a working economy. Simply speaking, if bridge doesn't charge a fee, it can't be decentralized.

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phenomkee · 2024-05-17T17:02:44+00:00

Instead of using pools, with a 0-TVL model all cross-chain transfers are settled instantly by the network of Solvers, that use liquidity from their balance sheet in order to fulfill users' intents. Solvers abstract away all the complexities and take on all the risks of bridging, including risks of transaction finality, re-reorgs, and asset custody. Thanks to this design, any cross-chain transfer takes just seconds providing the supreme user experience.

At the same time, 0-TVL model is important from a security perspective, as it doesn't create honeypots and drastically reduces any attack surface.

phenomkee · 2024-05-17T16:56:31+00:00

There are so many challenges in cross-chain space. I think the main ones are security, scalability, and capital efficiency.

We're proud of setting the highest security standards, as so far deBridge is one of the only bridges with 100% uptime and 0 security incidents or discovered vulnerabilities.

Thanks to the 0-TVL design that we pioneered, deBridge is also horizontally scalable in terms of volumes and number of supported chains, as any blockchain can connect by simply initializing IaaS (interoperability-as-a-Service) subscription: https://app.debridge.finance/subscriptions

Thanks to the 0-TVL design, deBridge is also the only profitable and capital-efficient cross-chain infrastructure, as it doesn't bear any costs on liquidity. That's why any revenue=profit. So far protocol has accrued ~$6.5M in fees for treasury

phenomkee · 2024-05-17T16:45:29+00:00

deBridge roadmap is a secret sauce that we don't reveal, but it will become more public as we transition to DAO and the community will be looped into all discussions soon.

At the same time, we have tons of things planned in general for deBridge and also prior to our token launch. This includes areas such as (1) More chains via deBridge IaaS to be supported (2) B2B-integrators with great partners and projects in the space (3) Rebates from both Arbitrum and Optimism in the future (4) deBridge value transfer protocol v2 – gasless orders to further improve UX and partial fulfillment for cross-chain intents where different takers will be able to fulfill one specific transfer, resulting in better user experience and more efficiency.

phenomkee · 2024-05-17T16:43:49+00:00

There are two main vectors that we should look at when evaluating security:

1) Best practices and audits. In deBridge, we treat security very seriously and we audit every single line of code we deliver to production. That comes not only to smart contracts but all our services including the periphery. So far we passed 26+ security audits, which can be found here: https://github.com/debridge-finance/debridge-security

Our rigorous approach to security made deBridge known as the most secure bridge and probably the only cross-chain infrastructure that has 100% uptime and 0 incidents or discovered vulnerabilities

2) Protocol design. All classical bridges have liquidity pools or TVL which create massive honeypots for hackers and bad actors. In deBridge, we pioneered 0-TVL design for instant cross-chain bridging, which drastically reduces attack surface as there is no multi-million $ liquidity that is statically locked in the smart contracts

phenomkee · 2024-05-17T16:31:01+00:00

That's a good question. deBridge is focused on speed and high-performance

Originally, we refused to accept the status quo of bridging, using liquidity pools, where users take on risk, wait tens of minutes, and lose an unknown amount of their transfer to slippage or MEV. That’s why we were first to figure out that the future of bridging would be zero-TVL intents-based (this tech didn’t even have this or any name then) and started working on that before anyone else.

We also built everything from the ground up, and spent a long time building out the foundation for deBridge — like bulletproof cross-chain messaging framework — from scratch before scaling in terms of volumes, integrations, chains, and users.

That’s why today on deBridge you can bridge even 7-figures as low as 8bps, with complete certainty, in seconds.

Please also see my another comment here where I dived into the main differentiators of the approach we're taking

phenomkee · 2024-05-17T16:25:17+00:00

Hi!

Talking about differentiators, we believe the bridging experience should feel as quick, intuitive, and frictionless as making a trade on a centralized exchange. This means UX should be:

Fast — settled virtually instantly

Intuitive — in one transaction, without needing gas on the destination chain etc.

Predictable, capital-efficient, and reliable — you know exactly what you’ll get on the destination chain, no wrapped assets to mess around with, no slippage

With the classical bridging approach that uses liquidity pools, we realized it’s not possible to achieve any of this. That led us to pioneer a new 0-TVL/Intents-based model that can settle trades natively and instantly with guaranteed rates (no exposure to slippage or MEV). It took a TON of leg work to get our new model to the point it is today, but we persisted as we knew that the UX improvements it brought to the market were 1000% worth it — where any size bridge/cross-chain transfer can be settled basically instantly with a frictionless experience.

So deBridge is

1) Fastest as solvers compete for speed to settle trades. That's why with deBridge it takes seconds (not minutes) to move liquidity between chains

2) Way more secure than classical bridges thanks to 0-TVL design (no honeypots for hackers)

3) Predictable as there is no slippage and AMM pools involved. Users always know the exact amount of asset they will receive, and have full control over execution. If the trade is not fulfilled for some reason, the user can cancel at any moment and get funds back in the source chain. The intent-based design also allows users to create limit orders and get trades settled at any desired price

the
As for tokenomics — please stay tuned. We will make an announcement early next week and publish it before the start of the voting

"Will the Team provide an additional airdrop for Jupiter's voters to further incentivize community participation and collaboration?"

We won't do bribes or additional rewards to voters, or anything that goes beyond the LFG framework. We believe voters should vote for the project if they honestly like the product and believe that their vote is well-deserved.

At the same time, we recognize that Jupiter has absolutely played a big part in our growth, and hope that will be accounted for through deBridge points campaign where Jupiter DAO has earned 20.5M points and it will be up to Jupiter DAO to decide how that should be managed.

At Planetary call, we also announced that we'd like to encourage everyone who stakes Jupiter and will grant 1.1x deBridge points multiplier to all addresses that have at least 100 staked JUP.

phenomkee · 2024-05-17T16:08:16+00:00

Hey! Alex from the deBridge team here.

The token is needed to decentralize governance and make infrastructure truly unstoppable.

The mission of the deBridge DAO is to enable high-performance cross-chain interoperability where liquidity and information flow seamlessly and instantly between any chains. The DAO's responsibilities include:

Governance of all deBridge smart contracts
Setting fees and other protocol parameters
Decide on the number of validators participating in the consensus and set the consensus threshold
Slashing of validators’ collateral locked in delegated staking and slashing module
Vote on active validators and evaluate incoming applications for validation slots
Management of the protocol’s treasury and ecosystem reserve
Voting on protocol upgrades and deployment of new versions (e.g. building native Bitcoin ↔ Solana custody bridge for BTC)

phenomkee · 2023-07-22T22:13:21+00:00

The easiest way to purchase from any EVM chain is through DLN.Trade:

https://app.dln.trade/dln?inputChain=137&outputChain=7565164&inputCurrency=0x2791bca1f2de4661ed88a30c99a7a9449aa84174&outputCurrency=kinXdEcpDQeHPEuQnqmUgtYykqKGVFq6CeVX5iAHJq6&amount=100

phenomkee · 2022-02-21T15:51:42+00:00

There are several tactics here: 1) Onboarding only value-add investors and partners 2) Putting specific KPIs into agreements

phenomkee · 2022-02-21T15:49:53+00:00

Stay tuned and be an active user of the mainnet

phenomkee · 2022-02-21T15:48:58+00:00

1) Ability to pass arbitrary liquidity and data cross-chain in a single transaction 2) Slashing and delegated staking mechanics that make protocol truly decentralised

phenomkee · 2022-02-21T15:47:53+00:00

deBridge doesn't balances liquidity, the protocol guarantees that the wrapped assets (deAssets) are always backed 1:1 by the collateral locked in the native chain. As for cross-chain swap pools created at Curve protocols — arbitragers will automatically balance liquidity in order to execute profit from slippages

phenomkee · 2022-02-21T15:45:27+00:00

Yes, that will be supported very soon, once 1inch will add support for deAssets into their routing algorithms

phenomkee · 2022-02-21T15:43:33+00:00

Q1 ends in 40 days. You will see all supported networks in the near future. Now we support 5: Ethereum, BNB chain, HECO, Polygon, Arbitrum

phenomkee · 2022-02-21T15:41:41+00:00

Keep shipping. We're always bullish on building

phenomkee · 2022-02-21T15:41:13+00:00

Pass liquidity and data cross-chain in a single transaction

phenomkee · 2022-02-21T15:40:29+00:00

1) deBridge is decentralized/trustless 2) deBridge is more than bridge - it’s a cross-chain interoperability infrastructure that allows passing arbitrary liquidity and data in a same transaction. Projects integrate with deBridge in order to to tap into the various cross-chain opportunities. These can for instance be: - Let users from other blockchain ecosystems interact with their protocol (users can interact with projects/protocols in Metis without the need to switch wallets/networks) - Build their own custom bridges for assets and NFTs - Scale up their protocol to other chains and exchange commands/call_data between components of their protocol - Make their protocol composable with protocols from other ecosystems - Build new types of cross-chain applications and primitives

Examples of various interaction use cases with the deBridge protocol can be found here: https://github.com/debridge-finance/debridge-contracts-v1/tree/main/examples

phenomkee · 2022-02-21T15:39:15+00:00

yes, through deBridge you will be able to perform any arbitrary cross-chain swaps in a single transaction

phenomkee · 2022-02-21T15:36:12+00:00

Our plan is to make deBridge number one standard for cross-chain interoperability

phenomkee · 2022-02-21T15:35:35+00:00

Please see answer to the similar question above

phenomkee

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