deBridge Tutorial

Earn Points w/ deBridge Cross-chain Transfers & Swaps

By Heath Muchena | Decentralised News | 15 May 2024


What is deBridge?

deBridge is a robust and secure interoperability layer for Web3, facilitating decentralized transfers of various messages and assets across multiple blockchains. Cross-chain transaction validations are conducted by a cadre of independent validators, appointed by and accountable to deBridge governance. These validators uphold the blockchain’s infrastructure and each operates a deBridge node, authorizing all transactions that flow through deBridge smart contracts across diverse blockchains.

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Delegated staking and punitive slashing mechanisms form the core of the protocol’s security, providing economic deterrents against any collusion by validators.

What Makes deBridge Protocol Unique?

The deBridge protocol serves as both a platform and framework for:

  • Decentralized movement of diverse data and assets
  • Cross-chain interoperability and smart contracts composability
  • Facilitating cross-chain exchanges
  • Enabling interoperability and bridging of NFTs

Organizations can leverage the deBridge platform to access a variety of cross-chain functionalities. These include:

  • Creating bespoke bridges for assets and NFTs, while maintaining unique NFT functionalities (e.g., breeding)
  • Allowing users from different blockchain ecosystems to engage with their systems (enhancing global reach)
  • Expanding their systems across multiple chains and facilitating intercommunication between their protocol components
  • Integrating their protocols with those from different ecosystems
  • Developing innovative cross-chain applications and primitives
  • Promoting global connectivity by ensuring seamless interactions between users and protocols across different chains

How to Use deSwap Cross-chain Bridge

Connect your web3 wallet.

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For this demonstration we will be using MetaMask wallet. 

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Choose the asset you wish to bridge and the network you wish to bridge from. In this case, we’ll be bridging Ethereum from the Ethereum network to MATIC on the Polygon chain. 

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You’ll be able to see on the interface how many deBridge points you stand to earn with the cross-chain swap. 

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Next, we have to give our wallet the permission to interact with the deBridge smart contracts and proceed with the transaction.

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Pay the gas fee. 

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Once the transaction is broadcasted, an order is created.

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You’ll be notified when the order is filled which is almost instantaneous.

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You’ll also be able to see the completed transaction history. 

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The governance of the deBridge protocol will be managed by a DAO, ensuring decentralized governance where all token holders can influence growth, make decisions on protocol parameters, and oversee treasury management.

deBridge began its journey in April 2021 during the Chainlink Global Hackathon, driven by the critical need to enable asset and data transfers across blockchains. It emerged as a leading solution, clinching the Grand Prize and first place among over 140 participating teams globally.

Fees and Supported Chains

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Regarding fees and supported chains: deBridge charges a uniform fee for each cross-chain message transfer, instilling confidence and ensuring decentralization, as half of all fees are allocated as rewards to the validators. These validators bear financial responsibility for the protocol’s operation, with their staked liquid assets serving as financial backstops for the protocol.

The fee is collected in the native (gas) token of the originating blockchain. For instance, if a transfer originates from the Ethereum chain, a specific ETH amount will be deducted from the user’s wallet and directed to the protocol’s treasury on Ethereum.  

Why deBridge Points and what are they for?

As deBridge progresses towards greater decentralization, it is introducing a points program to transfer more control to its community. A well-designed points system acts as a dynamic distribution method that enables widespread participation and governance in the future.

Every user of a deBridge product has contributed to the company’s mission and merits acknowledgment for their part in its collective achievements. This recognition extends across the entire deBridge ecosystem, encompassing valued partners and integrators, power users, and early adopters. These contributors have not only shaped deBridge’s technology but also facilitated the introduction of its products into the DeFi space, continually inspiring the team to advance.

How are deBridge Points acquired?

deBridge is rewarding early supporters retroactively for their loyalty while planning to acknowledge future contributions to its mission. The aim is to develop a rewards system that honors significant support during critical phases and encourages ongoing involvement without promoting exploitative practices like farming and sybil attacks, which contradict the goal of sustainable growth.

Points are awarded to those who incur fees using the deBridge protocol, including transactions made through the deBridge app and those involving its current and prospective integration partners.

With all fees contributing to the treasury, the forthcoming deBridge DAO will have a revenue-generating protocol to manage, as well as a substantial treasury (over $2.3 million at the time of writing). Participants gain voting power in proportion to their financial contributions to the treasury or ecosystem.

Moreover, this strategy promotes genuine use of the infrastructure by establishing financial barriers that deter bot and hunter networks from inflating their presence, thus preserving the value for genuine users who rely on deBridge for immediate cross-chain value transfers.

Here are the methods to earn points within the deBridge ecosystem:

Making Bridge Transfers

Users can accumulate points by conducting bridge transfers within the ecosystem, including transactions through the deBridge app or any partner application.

For every dollar spent in fees, users receive 100 points. For instance, a $5 fee payment during a transaction yields 500 points.

Points are only earned through cross-chain trades, as same-chain transactions are handled directly through integration partners.

Loyalty Multipliers

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deBridge also implements loyalty multipliers to honor its early users and adopters, with points already retroactively assigned to addresses based on these specified tiers.

Originally published on Decentralised News.

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Heath Muchena
Heath Muchena

Founder, Decentralised News & Proudly Associated Author, Journalist For more about me: https://linktr.ee/heathmuchena


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