Deploy crosschain native tokens with zero slippage, perfect fungibility, and granular risk settings — all while maintaining ownership of your token contracts.
The ERC20 token standard falls short on delivering crosschain functionality and control.
Fungibility
Bridging a token creates multiple versions of it, leading to a disjointed market and disrupting the user experience.
Liquidity
Ensuring token liquidity on new chains demands continuous incentives, causing friction for both users and token issuers.
Sovereignty
Whenever a bridge mints their version of a token, the token issuer loses control over the token contract on that chain.
How it works
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xERC20 Token Standard
xERC20 is an open token standard supported by various protocols throughout the space, aimed at solving the liquidity, fungibility, and security issues seen today with bridged ERC20s.
Fungibility
Allow any number of bridges to mint and burn the same token across chains. Users will always get the same asset, regardless of the bridge they use.
Granular Security
Flexibly choose the bridges you trust over time, and dial in your exact exposure to each bridge based on your risk tolerance.
Complete Ownership
Retain full control over your token contracts on every chain, rather than giving up control to bridges or third-party providers.
Midas Capital is excited to pioneer Connext's chain abstraction features. Midas has always pushed the envelope when it comes to delivering a stellar experience for our users. Connext has given us a way to make our dApp accessible from multiple chains which greatly reduces friction for our users. Connext shares our vision of a multi-chain future and we are happy to partner with them to make this a reality
Carlo Mazzaferro
Midas Capital
Integrating Connext offers several advantages that make the user experience seamless. With xCall, we can effortlessly consolidate bets from every chain into unified pools.
Most importantly, the Connext team follows our same principles: trustless, uncensored, and decentralized apps with a clean UX. Our end-goal is to abstract the user from the fact that we work on blockchain. Connext is supporting us to make that happen.
fnanni
Prode
Since the inception of Mean Finance, we designed our systems to be adaptable for any chain, acknowledging the future that lies ahead: layer-2s, layer-3s, app-chains and more.
We're working tirelessly to create a new user experience that makes the omni-chain reality a no-brainer; with the only crosschain protocol that's truly decentralized and permissionless, Connext.
Find answers to the most common questions about Chain Abstraction.
How Does Chain Abstraction Work Under The Hood?
To better understand the transaction flow for a Chain Abstracted dApp, let’s look at an example scenario where an Aave user would like to enter into a position on Polygon using their USDC balance on Optimism.
From the user’s perspective, they would simply connect their wallet and begin lending. Under the hood, the Aave app would initiate a crosschain transaction from the user’s wallet on Optimism directly into the Aave position on Polygon.
🖊️ Importantly, the user pays gas and funds for the above transaction entirely on Optimism
Here's a breakdown of the transaction flow:
For the above example case with Aave:
The user initiates the transaction to deposit into a pool on Aave-Polygon using their funds on Optimism.
The application calls xcall passing in the user’s USDC along with calldata related to the transaction on Polygon, and a target (which in this case is an adapter contract implementing an xReceive function).
Within the next 45-180 seconds (depending on the finality time of the source chain), Connext makes a transaction to the target, passing the user’s USDC and calldata into xReceive.
The xReceive function unpacks the calldata and uses it to call Aave’s supply function.
💡 In Connext, the gas fees for the Aave call on Polygon are paid by the user upfront on Optimism (in oETH). If the user’s transaction is underpriced (i.e. the gas price on Polygon increases during the transaction), the user can simply bump their gas similar to resubmitting underpriced transactions on Ethereum!
