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1. What is deBridge?
deBridge is a cross-chain protocol enabling liquidity and data exchange across different networks. Currently, deBridge supports over 10 networks, including Ethereum, Arbitrum, Avalanche, Linea, Optimism, Base,...
The validation of cross-chain transactions will be conducted by a network of independent validators, elected to govern deBridge.
2. Operation mechanism of deBridge
The deBridge protocol consists of two main layers:
- Protocol layer: Smart contracts deployed on each blockchain, operated by deBridge.
- Infrastructure layer: Off-chain nodes operated by validators chosen by the deBridge governance team.
Validators play a crucial role in the protocol by providing infrastructure, securing the protocol, and approving transactions. They are elected by the deBridge governance board and are responsible for protocol operations. Individuals can also help secure the protocol by becoming delegators and staking assets as collateral for users' assets (e.g., ETH, USDC). Both validators and delegators receive protocol fees, with 50% going to the treasury and 50% distributed as rewards to validators and delegators.
The operating mechanism of deBridge is quite similar to other bridging protocols. When executing an asset transfer command from the source chain to the destination chain, the user's assets are locked on the source chain and minted into a new derivative asset on the destination chain.
Below is the fee swap table for transactions conducted through deBridge on various network grids.
3. Tokenomics
Currently, deBridge has not yet launched its token. More updates will be provided once there is official information from the project.
4. Development team
deBridge was founded and developed by Alex Smirnov, an IT expert, entrepreneur, and blockchain enthusiast. Prior to founding deBridge, he led research and development activities at various technology companies, authored 8 scientific papers, and spoke at numerous international conferences. In addition, he holds a Ph.D. and a Master's degree in Mechanics and Mathematics from Lomonosov Moscow State University.
5. Investors and Partnerships
5.1. Investors and Fundraising Process
In 2021, deBridge successfully raised $5.5 million in a seed round with support from major crypto funds. Parafi Capital led the funding round and is the project's primary strategic partner. Other notable investors include Animoca Brands, Huobi Ventures, Lemniscap, Crypto.com Capital, MGNR, IOSG, Fundamental Labs, and more.
According to data from Crunchbase, deBridge also underwent two additional funding rounds at the end of 2021 and the beginning of 2022, but there is no official information available regarding the amount of capital raised and the investors for these two funding rounds.
5.2. Partner network
deBridge was founded based on the development team's recognition of various challenges related to cross-chain interoperability. Consequently, the team decided to develop deBridge and began by participating in the Chainlink Spring 2021 Hackathon, where they emerged victorious among more than 140 participating projects from various blockchain sectors worldwide.
Additionally, deBridge continuously expands its collaborative relationships with numerous other projects in the crypto space, such as Backpack, Helius, Azuro, Bundlr, Perpetual Protocol, Synapse, and Arweave.
Currently, deBridge supports over 10 chains, including Arbitrum, Avalanche, BNB, Ethereum, Polygon, Fantom, Solana, Linea, Optimism, Base, and Neon.
Bridging solutions always attract attention from hackers due to their lock and mint mechanism. Therefore, security remains a top priority for any bridge protocol to ensure user safety. deBridge has undergone audits by reputable auditing firms in the industry such as Halborn, Zokyo, Immunefi, and Ackee Blockchain.
6. deBridge Point Program
Recently, deBridge launched the deBridge Point program to empower project supporters. With each user's swap transaction, they incur fees, which are then transferred 100% to the project's treasury. This serves as the project's long-term revenue source, contributing to the sustainable development of the deBridge DAO. These revenues are redistributed to contributors to the project's development. As of now, over $2.3 million has been transferred through deBridge.
Users accumulate 100 points for every $1 fee incurred. Additionally, early platform participants during certain stages will earn points with multiplier bonuses.
7. Guide to Hunting Airdrops with deBridge
Step 1: Visit deBridge at https://app.debridge.finance/r/18701
Step 2: Bridge/Swap assets between different chains.
Based on the image, to earn more points, you will need to pay higher fees. deBridge also clearly displays the expected points you can earn on the interface, making it easier for you to calculate.
Step 3: Check your ranking here.
Note: Carefully check the Slippage before transferring to ensure it's at its lowest. It's advisable to bridge or swap stablecoins or ETH from chains with good liquidity such as Arbitrum, Optimism, or Base to minimize costs. Leverage Solflare's x1.1 multipliers to bridge assets like USDC from Solana to Arbitrum or Optimism to increase your points.
8. Ecosystem
Website: https://debridge.finance/
Twitter: https://twitter.com/deBridgeFinance
Discord: https://discord.com/invite/debridge
9. Conclusion
Above are detailed information about the deBridge project - one of the cross-chain bridge solutions developed since 2021. Until recently, the race of cross-chain bridge solutions continues to introduce new options such as Wormhole, Connext, Stargate, etc. deBridge is now gearing up to launch an airdrop program for users and release its token.
We hope this article provides useful information for users about the project. The content is for informational purposes only and is not investment advice. Investors should conduct their own research (DYOR) and make their own assessments before deciding to invest in any project.
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