
Product: Tricorn is a safe and secure cross-chain bridge. Connecting blockchains, securing assets, and enabling interoperability with our cutting-edge cross-chain bridge solution.
Problem: 6.7+ million DeFi users face endless hurdles daily: wasting time and money on high fees for asset swaps across multiple chains using several CEXs, searching for better rates, dealing with limited liquidity on Dexs and lack of interoperability.
Solution: Cutting-edge cross-chain application that enables seamless and secure token swapping across all blockchains with guaranteed high liquidity and thorough security auditing for every added chain.
How it works: The whole application consists of 5 entities: gateway, signer, bridge, connectors, and smart contracts. Gateway is responsible for validating requests from users and transmitting them to the bridge. Bridge is a central processing unit. It processes transfer requests by validating and configuring the transfer approach and then redirecting them to appropriate connectors. Connector is responsible for transaction estimation, events reading, and contract methods calling. Signer signs transactions.
The Bridge operates in two ways: Liquidity Pools: When users send tokens through our Bridge, we lock the tokens on the source chain and transfer an equivalent amount (minus commission) from the Vault to the user on the destination chain. Mint/Burn: This method is similar to Liquidity Pools, but it allows us to mint tokens on the destination chain or burn tokens on the source chain.
For example, when transferring LINK tokens from Ethereum to Concordium, we lock them in an Ethereum contract. On Concordium, we mint CLINK tokens equivalent to the locked LINK tokens. To return CLINK tokens to Ethereum, we simply burn them to unlock the original LINK tokens.
User experience: User wants to transfer 5 USDC from Avalanche to ETH network. User fills in all necessary fields in the application. Gateway validates those fields and transmits them to a bridge. Bridge estimates this transfer and constructs a signature via the appropriate connector and returns it via gateway to the user. User sends bridge-in transaction. Connector sends an event of a successful transaction to the bridge and bridge initiates outbound transaction via the appropriate connector. Outbound connector constructs bridge-out transaction, signs it via Signer, and sends it into the blockchain, then caches the event of a successful transaction, sends it to the bridge. Then Bridge updates transfer status. Transferring approach (liquidity pool or wrap/unwrap) depends on token settings in the selected network.
Our cross-chain bridge solution supports both EVM and Non-EVM chains, including Ethereum, Polygon, Solana, Avalanche, Binance Chain, Casper, Concordium, and also supports USDC stable coin. Already has been audited by Halborn. We are currently working on the Concordium audit, after which we will go live.
We're going to create Soroban smart contract and deploy it to Stellar network to have bridging functionality between networks.
$44.7K

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