Addressing Multi Chain Challenges
Section
Description
Introduction
Extending BRC20 standard for cross-chain compatibility, decentralization, and compatibility with smart contract chains.
Technical Requirements
Custom indexer, destination chain contract, BTC-Relay smart contract for Bitcoin verification.
Use Cases
Facilitates access to decentralized financial protocols, enabling advanced DeFi opportunities.
Protocol
Introduces Bridge-out and Bridge-in operations for token transfer between Bitcoin and destination chain.
Deploy on Destination Chain
Smart contract requirements for minting wrapped tokens based on valid transaction proofs.
Bridge-out
Locks BRC-20 tokens on Bitcoin and mints wrapped tokens on the destination chain.
Bridge-in
Burns wrapped tokens on the destination chain and mints BRC-20 tokens on Bitcoin.
Indexer Behavior
Verifies mint and bridge-in events, updates token balances, and total bridged-out amounts.
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