InfinitySwap is a smart routing multi-chain aggregator that solves the problem of fragmented liquidity by routing fractionalized transactions toward optimal arbitrage opportunities across multiple DEXs. InifintySwap does not utilize a “lock/burn and mint” protocol. These are the most commonly used mechanisms in the space currently to bridge or swap assets across networks. These types of protocols are also the same ones that have been the targets for many of the cross-chain exploits that have plagued the industry in recent months. By removing the ‘lock/burn and mint’ mechanism involved in standard bridges and reinventing the architecture behind the way assets are bridged, our objective is to improve the security, efficiency, efficacy, and experience for end users. These architectural advantages that InfinitySwap provides are extremely important to understand when determining the problem that we are addressing and how it is different from existing solutions.
1. Given the fact that Ferrum uses a 2 way bridge LP system as opposed to the aforementioned “lock/burn and mint”, InfinitySwap lends itself very well to interoperability with non EVM compatible networks. Hence why projects like Algorand, Pocket Network and Casper have given grants to Ferrum to bridge their non EVM compatible networks with the world of solidity.
2. As a result of the aforementioned architectural advantages, projects building on Cardano would not need to worry about losing nuances embedded in their token contracts such as reflection (RFI), dividend, or burn mechanisms. Due to the nature of “lock and mint” bridges, standard generic open zeppelin contracts are being minted on the destination chain. This strips the bridged asset of its inherent functionalities.
3. These architectural advantages also play a major role in the security of the bridge. This article references the security measures taken along with a copy of the audit that passed with flying colors and high praises from the founder of Zokyo. In short, the fact that the bridging contract never has control over the token contract of any asset using the protocol, means that exploits involving upgradeable mint functions or large amounts of liquidity being held on the bridge cannot be carried out.
4. Our 2 way bridge LP system also allows for not only cross chain bridging of Token A on Network A for Token A on Network B but also allows for the cross chain swapping of Token A on Network A for Token B on Network B. Most interoperability protocols are simply bridges, however InfinitySwap is a cross-chain aggregator and swapping protocol that uses the APIs from DEXs on various networks, tapping into DEX liquidity to support the bridge liquidity. This will not only make assets on Cardano more composable but it will also encourage an immense amount of TVL and liquidity and add value to SundaeSwap DEX and others.
5. Finally, no other bridge on the market adds utility to the token that is being bridged. With our unique "bridge swap fee" mechanism, projects who list on our bridge can set customizable fees that are charged in their native token. Some projects choose to burn those fees thus making their asset deflationary, others choose to use it for rewards to incentivize staking or adding liquidity, others simply use it as a revenue source. These fees can be distributed via bulk multisender to as many wallets as desired.
We use an iterative and lean approach toward integration and development in general. We focus heavily on quicker deployments internally to incorporate feedback, then start detailed usability, security, functionality and reliability testing to capture any gaps in our initial approach. We quickly implement this feedback and then get the product in the hands of our customers when it passes our standards for performance and security.
Once the product is in the customer’s hands, we utilize an effective feedback loop to continuously improve our product by prioritizing the feature enhancements and bug fixes based on the priority of the feedback we are receiving.
In order to integrate with Cardano we’ll be utilizing the same principles. We will first scope out the integration, then start with a shell app version of the deployment that will explore the possibilities of the functional integration. Based on the results of this initial effort, we’ll identify high traction and demand areas to prioritize and build further into a production ready product. We will then proceed to develop and deploy the integration through our deployment cycle. Dev -> QA -> UAT -> Staging -> Launch.
We will repeat this process to integrate the rest of our product suite and future products as well.
After the integration is complete we will have a very strong go to market strategy. This will entail but is not limited to working with Market Across (top marketing/PR firm in the space), Influencer marketing, interviews, AMAs, and trading competitions using InfinitySwap.
The main risks that any interoperability protocol faces are that of security breaches. We will implement architectural and OpSec security measures to ensure the security of the protocol.
This includes: Node architecture and related infrastructure updates. For example, the signing of withdrawals is often centralized to favor speed and security. Ferrum Network is updating the Node Signing Architecture and related Infrastructure (v2.0.0) to enable decentralized Node signing. This major update will provide additional security and reliability layers while allowing stakeholders like Cardano to run Generator and Validator nodes for withdrawals. The ability for more stakeholders to run Generator and Validator nodes brings state-of-the-art decentralization to the bridge. This major upgrade will be pivotal in improving InfinitySwap's architectural security without compromising speed and maintaining the protocols reliability.