The race among DeFi projects to make their platforms more convenient and useful has led to the proliferation of cross-chain bridges. At the moment, many of these are centralized, which can be less convenient for users, for example, because of KYC checks, and it sets certain limits for developers. Trustless solutions are much more reliable for end-users, and decentralization is a key factor if we take into consideration liquidity and cross-chain transfers.
Octus Bridge is one of the few decentralized bridges that focuses not only on offering a wide selection of connected networks, but also on usability.
The project is based on the Everscale blockchain structure but has separate relay nodes for transaction validation. Thanks to Everscale’s multi-tiered system, anyone can create their own workchain with a custom structure, without sacrificing security. Moreover, anyone can become an Octus Bridge validator — all you need is to have the relevant knowledge and to own the required amount of BRIDGE tokens. There are several networks to choose from in Octus Bridge, including Everscale, Ethereum, BNB Chain, Polygon, Avalanche, Fantom Opera, and Milkomedia.
Octus Bridge was developed by Broxus, one of the main development teams in the Everscale ecosystem. Broxus’ portfolio also includes such projects as EVER Wallet, Wrapped EVER, and the decentralized FlatQube platform. A hallmark of Broxus products is the emphasis placed on both utility and ease of use.
The Invisible Bridge is a new platform feature that allows users to transfer funds directly from one EVM blockchain to another in a single interface. While the networks are being linked via the Everscale network, the cross-chain liquidity flow takes place under the hood, so at the user’s end, it is a direct transfer from one network to the other. Normally, doing this would require the user to go through a complicated process where they would have to pay for gas at every stage. With the Invisible Bridge, gas fees, which are extremely low, are only paid once and can be paid in the currency of the EVM network of choice.
This is made possible through implementation of a credit smart contract in the Everscale blockchain.
Now, if a user wants to transfer their funds from Ethereum to Polygon, or between some other blockchains, they no longer need to have EVER tokens in their wallet. The smart contract will calculate, exchange, and deduct the necessary amount for deployment and the transfer fee. These fees are incredibly small in the Everscale network. The end receiver will get the funds, minus the amount needed to operate the smart contract. If the user has EVER tokens in their account, they can pay with them. The ability to transfer tokens through Octus Bridge directly into an EVER Wallet has also been added.
Benefits of Octus Bridge
Since Octus Bridge is built on the Everscale blockchain, transactions are extremely fast and cheap. This, combined with the new Invisible Bridge feature, makes the platform ideal for business owners looking to integrate cross-chain payments. The whole operation takes place via one interface, making it as simple as possible for potential users.
The Invisible Bridge’s functionality is convenient not only for users, but also for developers. All Broxus products are open source; thanks to this, any developer can integrate one of their cross-chain solutions into their own products. It also opens up the possibility of providing liquidity mining to customers who use the platform. Octus Bridge is a high-tech and constantly evolving project. The next step in their roadmap is to add the Solana blockchain to the list of supported networks.
In an era that is seeing rapid expansion of blockchain projects, there is still a need for platforms that can provide the most dynamic technical capabilities in an accessible and easy-to-use manner. Broxus has a proven track record of developing platforms that do just that.