Pontoon Cross Chain Bridge
The constant urge to move to a completely decentralised ecosystem from traditional centralised exchange dependency started in 2018 with the new chain Ethereum being introduced which allowed multi-ecosystems to interact with one another for information, data and tokens transfer to get simplified.
With this evolution, a good deal of protocols were introduced on the Ethereum chain which braced the POS concept.
Well POS in the early 2018 was new and garnered much attention due to its consensus mechanism which further enhanced the safety and scalability of a blockchain which was earlier accepted through POF( Proof Of Work)
POS is commonly referred as Proof Of Stake, where any user who wishes to participate in this mechanism, needs to stake the coins or tokens of native protocol to ensure safety is enhanced and further they are referred to as validators.
Validators’ role is to validate an incoming block and consensus mechanism is placed to ensure a true block has been accepted and closed at the blockchain. With this the uneventful situations are lesser.
Of the financial services, money legos evolved on the transfer or swap of tokens to another network with a combination of multi-actions that can eliminate the need of intermediaries as dependency.
As money legos became more popular in different financial aspects, the boom of interoperability and composability slowly started to make a mark in Defi which transformed the ecosystem towards a true DEFI by nature.
Crypto users are still at large for a conceptual understanding on interoperability and composability where the actions are similar to each other but substantially differ from one another.
In the Defi world, the communication exchange between two different chains is referred to as interoperability and this exchange of things differs from one financial aspect to another, meaning data, tokens, voices, NFT’s are few aspects that can be considered.
By its definition, interoperability is always mismatched with composability, as the feature of the second is defined with addition of money legos to build a complex ecosystem. Composability is a combination of interoperability and additional legos.
Now lets define each with an example added:
1) When Alice transfers USDT from Eth to BSC, she receives USDT on BSC — Interoperability. Token transfer and receive on each side of the chain are always the same.
2) When Alice transfers USDT from Eth to BSC and wishes to receive different tokens on BSC — Composability. Ability to transfer tokens across chains and different tokens are received.
With the addition of more and more money legos, complex ecosystems were raised, which created the need for the fragment issue to be solved.
Fragments in defi are referred to tokens which are staggered around multiple DEX’s for different purposes which paved the way for the rise in fragmentation concern as many DEX’s do not serve the purpose which was built for.
This concern of defragmentation provided multiple opportunities to the new developers and dreamers to achieve the missing piece and this is where the Pontoon journey started.
With Pontoon introducing its own native bridge which has the features of defragmentation, interoperability, composability and completely trustless in movement of assets plays a crucial aspect with the true definition of DEFI.
Pontoon is one click liquidity mirror cross chain protocol which aims to solve the fragmentation and composability concern in the ecosystem with addition to interoperability in place through a completely trustless bridge.
Any user who is a part of Pontoon has the leverage to stake their assets by providing liquidity to the dedicated pool which acts as a service for another set of users for the transfer of tokens from one chain to another chain. Fragmentation issue solution is provided through an incentivisation program for users with high yield as return for users.
Pontoon cross chain bridge feature is spread across 7 EVM chains and also enables bidirectional actions to be carried out with lock and unlock enabled for users transactions to get completed. With the composability structure in place, Pontoon will stand out high as the tokens transfer can be placed from one chain and the users receive different tokens on the other side of the chain in a completely trustless way.
Gas fees are skyrocketing and this is also an added concern from a user community, to overcome, Pontoon will deliver its users a hassle free transaction on mainnet to provide a sustained ecosystem through our relayer networks and validators to validate a block through POS consensus mechanism.
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