We ranked every bridging provider
@megapot_io's V2 protocol needs to work on every chain, with the speed and user experience that non-crypto users expect
So we spoke with many of them and here's where we landed 🧵
Before we begin, here's how we’re evaluating our options:
1. Reliability: How secure and battle-tested is the bridge and liquidity?
2. Performance: Is it sufficient for consumer UX? <5 seconds
3. Chain Support: How many chains does it support? Can we get partial non-EVM support, especially TON and SOL?
4. Time to Market: How much work is full-stack integration?
5. Cost: Transaction fees
6. Decentralization
Offerings fall into three main categories:
1. Messagers (@hyperlane, @LayerZero_Core)
2. Intents (@AcrossProtocol, @daimopay, @SOCKETProtocol, @RelayProtocol)
3. Orchestrators (@biconomy, @PelagosNetwork)
Any others? Please DM @Bmwball56!
Here's how we think about these:
Messengers have been around the longest, are cheapest, and have decent non-EVM support. However, they require more upfront dev work and are slowest at 10-20 seconds.
Intents are battle-tested in production, fastest at 5-10s, and with less upfront dev work. However, they have less non-EVM support and are more expensive.
Orchestrators are powerful and have the least upfront dev work. Most projects are either newly launched or still in development. In theory, they have the best non-EVM support, but the functionality isn't live yet.
We lean towards using intents. (holler if our analysis is wrong)
They're fastest to launch quickly for EVM chains, and can meet our needs for non-EVM.
For non-EVM:
- When users buy tickets, they send funds from their home chain to a BridgeManager on our chain that buys tickets and tracks the user via a mapping.
- When users claim winnings, where funds go back to them on their home chain, we'll either run a service that claims and bridges on users' behalf (gated by the BridgeManager) or create an incentive mechanism to have keepers do this (a la @PoolTogether_)!
- The nice thing is we can roll this out in stages, starting with EVM then pursuing other chains like @ton_blockchain or @solana!
We're aiming to decide by early next week.
Thanks to @AcrossProtocol @PelagosNetwork @rhinofi @biconomy @SOCKETProtocol @daimopay @RelayProtocol for answering our questions!
If you're a bridging provider, or have some thoughts on this, would appreciate you replying here or DMing @Bmwball56!
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