Some things in the crypto world are fluffing complicated.
Some things are fluffing easy.
Thankfully when choosing a cross-chain token bridge that transfers value between mainnet Ethereum and L2s the choice is easy!
That choice for me is a No-Brainer!
That choice of bridge is Across Protocol (ACX) and in this article we shall find out why!
Why do we need cross-chain bridges?
Ethereum is a bit of a mess! The transaction fees are outrageous for starters and don't get me started about scalability!
The solution then was to have Ethereum Layer-2 blockchains. They operate on top of the Ethereum blockchain (Layer-1), inheriting its security while striving to provide faster and less costly transactions. In theory that is great, but how do all these chains talk to each other token wise?
They don't unless we transfer from chain to another with the use of an intermediary. That intermediary is called a cross-chain bridge.
Now as this is an article about bridges and ACX in particular we come to my favourite part in many things... and that is of course RESEARCH
5 Factors to Consider When Comparing Bridges:
- Security: Look for bridges with robust security mechanisms, audits, and a proven track record.
- Speed: Consider the time it takes to complete a transfer, especially if you need to move assets quickly.
- Cost: Compare the fees charged by different bridges, as they can vary significantly.
- Supported Chains: Check if the bridge supports the specific blockchains you need to use.
- User Experience: Choose a bridge with a user-friendly interface and clear instructions.
When choosing a bridge, it's crucial to do your own research and consider your specific needs and priorities.
Of course, I am doing some of that leg work for you now, as I am telling you about this wonderful Protocol Across!
The ACX community on Discord
Actually I have been a member of the Across community for quite some time, and before we delve into some technical stuff, let me shill their community.
This image of a bridge and the words are actually in the form of a Japanese haiku.
For those of you that don't know ... A Haiku is a short, unrhymed Japanese poem that's made up of three lines with 17 syllables in total
The reason I have included it is to show you the sorts of competitions and fun things the ACX community runs. This was entry of mine in response to a ACX Valentine's day competition they ran. It was either this year of last year, I can't remember which.
I have been involved in crypto and crypto communities for many years.
Without a shadow of a doubt one of the most welcoming and friendliest of web3 communities is the ACX community. Whether you are a seasoned trader bridging thousands of USD equivalent daily or forecasting football scores to win ACX tokens the ACX discord community is second to none when it comes to friendliness and making you feel all fuzzy and warm.
Take this competition that they are sponsoring. So thank you and go join their discord here.
Actually while you are at it, go and join all their socials..
- Discord: https://discord.gg/across
- Youtube: https://youtube.com/@acrossprotocol
- Warpcast: https://warpcast.com/acrossprotocol
- X (formerly know as Twitter): https://x.com/AcrossProtocol
- Across Intern on X: https://x.com/AcrossInternV2
Go on, do it now, it will only take a few minutes. While you do it, I will make a coffee! So see you back here after...
ACX
What is ACX Across Protocol?
Across Protocol is a bridge protocol that enables users to transfer assets between different blockchains. It aims to provide a fast, cheap, and secure way to move assets across chains.
Key Features of ACX
- Fast and Low-Cost: Across Protocol boasts fast transaction speeds (averaging less than 1 minute) and low transaction fees compared to other bridges. This is achieved through its unique design and use of "intents".
- Cross-Chain Intents: Instead of requiring users to perform multiple steps to bridge assets, Across uses "intents". You simply declare your desired outcome (e.g., "I want to move 1 ETH from Ethereum to Polygon"), and specialized relayers compete to fulfill your request in the most efficient way.
- Security: Across prioritizes security by using a trust-minimized design and relying on a network of validators to ensure the integrity of transactions.
- Interoperability: Across Protocol is designed to connect a wide range of blockchains, increasing interoperability within the decentralized finance (DeFi) ecosystem.
As you can see it is all about INTENTS ...
At this point I need to stop and show you some more links...
Why?
The technical docs of course! There is so much so read and watch and you will find out that the ACX os the real deal!
- dApp: https://across.to/
- Docs: https://docs.across.to/
- Medium: https://medium.com/@AcrossProtocol
- Straddl: https://straddl.io
The observant amongst might be thinking ....
NO NO NO not that straddle but Straddl the wonderful interface I will show you later...
How ACX Works:
- Intent Creation: A user creates an "intent" to move assets from one chain to another.
- Relayer Competition: Relayers on the Across network bid to fulfill the intent. They compete based on factors like speed and cost.
- Intent Fulfillment: The winning relayer executes the necessary steps to move the assets across chains.
- User Receives Funds: Once the transfer is complete, the user receives their assets on the destination chain.
IT IS SO SIMPLE and I will show you in a moment...
However what about the ACX Token:
ACX is the native token of Across Protocol. It has several utilities within the ecosystem:
- Governance: ACX holders can participate in the governance of the protocol.
- Staking: Users can stake ACX to secure the network and earn rewards.
- Fees: ACX can be used to pay for transaction fees on the Across Protocol.
Quite rightly ACX were proud as punch because earlier this month ....
Yes Binance the one and only Binance CEX listed ACX without any listing fees I might add!
A truly magnificent achievement by ACX to which they tweeted ....
All of this action did of course mean a pump in the token price and even now $ACX is sitting pretty at around $0.80
The Proof is in the Pudding ....
Have I lost my mind you say ....
Heck no ... because it is that time to play and test!
But first though you need your EVM wallet, I have tokens in MM I want to transfer and we shall you use Across interface first...which means connecting our wallet to https://app.across.to/bridge
In the words of Tommy Cooper
Here we go ... the Across Bridge Interface ... swapping USDC on Base to Arb...
BISH BASH BOSH
The transfer was completed in less than 4 seconds and cost less than 4 cents... Sweet!
Now then what do you think of the UI ... To me it is a bit meh, so let's take a look at Straddl!
Straddl is sexy, just look at it!
okay first things first, open up https://straddl.io/ and connect our wallet.
For this test we will send the USDC we transferred with the Across UI back to Base.
It already looks cleaner on the eye!
Kudos to the guys that designed it, you know who you are!
By the way ...
Straddl is live as of September 2024 I think and is powered by Across!
makes it easy to perform cross-chain swaps directly—no need for a separate DEX step, saving you time and gas fees.
And being a test my internet decided to be a doozy and went barmy. Sometimes that happens with the laptop so I just swapped over to mobile and did the following ...
Shows how cool the mobile version is though!
This time 4 USDC on Base to OP
Now we accept that quote ...
And it looks fine ... hit Bridge Now ...
4 seconds well well I will have some of that speed!
There we have it I love straddl!
Of course as straddl is powered by Across, we aren't cheating by using it!
Conclusion
For the chains that you want to cross bridge to... ACX is a fluffing NO BRAINER!
