⛓️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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