Glitter Finance – A bridge for token transfer across blockchains

Item: Ackee
Author: Andrew

Year: 2023

Client: Glitter Finance

IntroductionSecure token transfers in the crypto world

Glitter Finance makes cryptocurrencies accessible to ordinary users and allows them to invest conveniently in the world of cryptocurrencies. In addition to the services it offers in this area, together with Ackee it has embarked on the development of the Glitter Token Bridge – a mechanism for transferring cryptocurrencies or tokens from one blockchain network to another.

OutputsBackend

CategoryFintech

ChallengeSimplifying transactions across blockchains

Transferring cryptocurrencies and tokens from one blockchain network to another? That sounded like exactly the challenge for Ackee. Our assignment was to develop a token bridge solution that would enable the actual transfer of cryptocurrencies and tokens, and a validator that would guarantee users that the entire process would be secure and transparent.

SolutionA bridge between blockchains and tokens

Developing a token bridge and validator requires advanced technical expertise in blockchains, smart contracts and security. The architecture needed to be carefully planned for design and implementation, taking into account the supported blockchains and token types, the transfer mechanism and its security, while coordinating between the different teams. Thanks to our experience in this area, we have developed a simple and secure solution, which can also be easily connected to other chains.

PraxisOne bridge rules them all

Glitter bridge interconnects independent blockchains such as Solana, Algorand and EVM-based blockchains (Ethereum, Binance, Avalanche, Polygon, Zkevm, Arbitrum, Optimism). In practice, a user "locks" their tokens using a smart contract on one side of the network, a validator verifies the exchange, and the user is issued an equivalent on the other side. He performs the opposite process if he wants to transfer his tokens back later. We verified the security of this mechanism through two-phase testing on each of the supported blockchains.