Stellar Community Fund

By LiquidsFi: Bridge and Cross-chain Oracle

ZKLiquid: EVM - Soroban Bridge

SCF #28

$41.5K

Legacy v5.0 Activation Award

Awarded

ZKLiquid is a decentralized liquidity protocol and interoperability relay network connecting liquidity across siloed blockchains.

Products & Services

ZKLiquid is an omni-chain liquidity protocol and interoperability relay network that connects liquidity across siloed blockchains. It is powered by a PoS blockchain infrastructure. The product includes the development of a secure and cost-effective EVM-Soroban stablecoin bridge with low latency.

Interoperability has long been a challenge addressed by blockchain developers. Many interoperability technologies focus on moving assets between siloed chains, but this raises concerns about a single point of failure. To address this issue, oracle protocols like Chainlink have developed inter-chain messaging protocols that relay data between siloed chains. However, most of these oracles, like Chainlink, do not support non-EVM blockchains.

ZKLiquid proposes an EVM-Soroban bridge for stablecoins. This solution relies on ZKLiquid's interoperability messaging protocol, a decentralized network that uses a PoS consensus mechanism to validate and synchronize data between EVM chains and Soroban.

Bridging liquidity between EVM chains and Soroban in a secure and efficient manner is crucial. This capability will enable users to freely transfer assets back and forth. Consequently, many crypto enthusiasts who have long relied on EVM chains for interoperability will now have the opportunity to utilize dApps and hold assets on the Soroban blockchain. This, in turn, will lead to an increase in the number of users and the on-chain TVL of Soroban.

Requested Budget

$41.5K

Team

The LiquidsFi team is composed of five tech enthusiasts and blockchain experts, collectively boasting over 30 years of experience in software application development and more than 15 years building blockchain applications. The team is led by Adedotun Akintayo, who holds a Ph.D. specializing in Numerical Algorithms and Applied ML. With extensive experience as an AI/ML Software Engineer & Tech Lead at Boeing, he brings profound technical expertise and strategic insight to his role as co-founder and business lead at LiquidsFi. His background in developing distributed computing, numerical analysis, and AI-driven tools and frameworks, combined with a proven track record in product development and project management, equips him to effectively lead the team in achieving LiquidsFi's mission.

The team has done significant work on developing decentralized applications and protocols on several blockchains, both EVM and non-EVM ones like Soroban, Solana and Polkadot. These include the development of a multi-chain algorithmic money market (AMM) where users can take out over-collateralized loans using both tangible and intangible assets like NFTs. It is one of the few AMMs that supports the use of whitelisted NFTs in a permissionless manner as collateral. Another major achievement is the development of an NFT on-chain liquidity reserve. This protocol is designed to give NFTs of GameFi projects intrinsic value, making it possible to build LP DEXs and atomic swaps for NFTs, which was not possible before. And more recently, the team developed a stablecoin bridge protocol that uses a lock and release mechanism for asset transfer and leverages the Chainlink Cross-Chain Interoperability Protocol (CCIP) and an in-house decentralized oracle mechanism to transfer assets. This protocol supports the bridging of stablecoins (testnet) across multiple EVM chains, and the team is now working on expanding it to non-EVM chains.

With these accomplishments, the team is now focused on interoperability solutions, which involve bridging Soroban and Stellar Lumen to tens of EVM chains in a secure and decentralized approach.

Some of the team members include: