 | Do you venture into the promise land of the L2s ? If the answer is yes you're most likely overpaying for your L2<>L1 transfers unless you're using the Across protocol bridge (https://across.to/). A chart is worth a thousand words so there we go: Now that I have your attention What is the Across protocol and how does it Work? Across is a bridging method that uses bonded relayers, single-sided liquidity pools and UMA’s Optimistic Oracle, which when put all together allows for decentralized, instant transfers. Across’ cross-chain bridge allows you to move your assets between the Ethereum Mainnet L1 & the supported L2s, in a cheap, secure and quick manner. Across provides incentives to relayers to offer short-term loans to users on L1. These loans are repaid to the relayer within two hours, from liquidity pools on L1. The pool is refreshed once funds from the canonical L2 transfer settle. Transactions are insured using UMA’s Optimistic Oracle (OO), which acts as a dispute resolution layer. The OO verifies and validates all contracts between the user transferring funds and the insurer earning the fee. What's Across typical transfer speed & how is it achieved? The typical speed for a transfer is between 1-2 minutes. Across L2 to L1 bridging speed depends on a few factors: - The amount of L1 Bridge Pool liquidity available - The number of relayers on the Across network - The speed of the relayers The whole transaction flow can be visualized below: Visual representation of the complete end-to-end flow process Across security When analyzing Across Protocol’s security, two pillars are exceptionally clear: the Optimistic Oracle and tested smart contracts, which is proven by the audits (https://blog.openzeppelin.com/uma-audit-l2-bridges/ & https://docs.umaproject.org/dev-ref/bug-bounty#audit), TVL in Across’ bridge and the contracts standing the test of time. The Optimistic Oracle provides both theoretical and economic guarantees: No singular admin or key master, a simple reward system to incentivize correct voting, a decentralized kill switch & token holder incentives. What are the Networks supported ? Currently Across supports the Ethereum L1 network & the Optimistic Ethereum, Arbitrum, & Boba L2 network. Assets supported: Currently, users can bridge USDC, ETH, WETH and UMA from L2 to L1 Ethereum and the other way around. Learn more about Across fees, security and speed below Deep dive on how Across #BRIDGEFORLESS Feel free to hop in the Across Discord if you have any questions or would like to know more about the Across Protocol. Happy Bridging! Tell a friend to tell a friend ;) Links: [link] [comments] |
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