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What makes Hyphen more secure than other EVM bridges?
Hyphen was designed with security baked into its design. Here are the top 3 reasons that make Hyphen more secure๐งต๐
What makes Hyphen more secure than other EVM bridges?
Hyphen was designed with security baked into its design. Here are the top 3 reasons that make Hyphen more secure๐งต๐
2/
โ Multiple smart contract audits:
Hyphen pool contracts have been audited twice.
โ๏ธAudit by @HalbornSecurity๐
โฆmy-assets.ams3.digitaloceanspaces.com/Hyphen_Smart_Cโฆ
โ๏ธAudit by @code4rena๐
code4rena.com/reports/2022-0โฆ
โ Multiple smart contract audits:
Hyphen pool contracts have been audited twice.
โ๏ธAudit by @HalbornSecurity๐
โฆmy-assets.ams3.digitaloceanspaces.com/Hyphen_Smart_Cโฆ
โ๏ธAudit by @code4rena๐
code4rena.com/reports/2022-0โฆ
3/
โ Crypto-economic security:
Cryptographic proofs are checked to prevent double-spending.
Additionally, Hyphen implements a dynamic mechanism that makes the transfer fee variable.
It depends on:
- total liquidity supplied by LPs
- available liquidity in the pools.
โ Crypto-economic security:
Cryptographic proofs are checked to prevent double-spending.
Additionally, Hyphen implements a dynamic mechanism that makes the transfer fee variable.
It depends on:
- total liquidity supplied by LPs
- available liquidity in the pools.
4/
There is an equilibrium transfer fee, F(e), which is currently set as 0.1% and is charged when a cross-chain transfer brings the destination pool to a state where L = SL.
There is an equilibrium transfer fee, F(e), which is currently set as 0.1% and is charged when a cross-chain transfer brings the destination pool to a state where L = SL.
5/
โ Decentralized rebalancing:
Hyphen pools are designed in such a way that it incentivizes bridgoors to rebalance the pools in case of an imbalance in liquidity.
It maintains an Incentive Pool which is gradually filled as the pool becomes empty due to more one-sided demand.
โ Decentralized rebalancing:
Hyphen pools are designed in such a way that it incentivizes bridgoors to rebalance the pools in case of an imbalance in liquidity.
It maintains an Incentive Pool which is gradually filled as the pool becomes empty due to more one-sided demand.
6/
When a user makes a transfer and deposits in a pool that is low in available liquidity (hence a high Incentive Pool), some part of the Incentive Pool is given as a reward in the deposit transaction hence incentivizing the user to do this transfer.
When a user makes a transfer and deposits in a pool that is low in available liquidity (hence a high Incentive Pool), some part of the Incentive Pool is given as a reward in the deposit transaction hence incentivizing the user to do this transfer.
7/
When this reward given on the source chain becomes more than the transfer fee on the destination chain, this transfer becomes profitable for the user.
Learn more about Hyphen's dynamic fee and self-rebalancing model, here ๐
notion.so/biconomy/Self-โฆ
When this reward given on the source chain becomes more than the transfer fee on the destination chain, this transfer becomes profitable for the user.
Learn more about Hyphen's dynamic fee and self-rebalancing model, here ๐
notion.so/biconomy/Self-โฆ
8/
โ Single-asset liquidity pools
Since Hyphen's liquidity pools are single asset pools, they are resistant to impermanent loss and therefore, a good (and safe) way for LPs to earn a fee on their positions
โ Single-asset liquidity pools
Since Hyphen's liquidity pools are single asset pools, they are resistant to impermanent loss and therefore, a good (and safe) way for LPs to earn a fee on their positions
9/
Learn more about integrating #Hyphen in your dApp to enable๐ช๐๐๐๐๐๐๐๐ชcross-chain transfers, here๐
docs.biconomy.io/products/hypheโฆ
Have any more questions about Hyphen?
Reach out to us, here:๐
Telegram: t.me/biconomy
Discord: discord.com/channels/69240โฆ
Learn more about integrating #Hyphen in your dApp to enable๐ช๐๐๐๐๐๐๐๐ชcross-chain transfers, here๐
docs.biconomy.io/products/hypheโฆ
Have any more questions about Hyphen?
Reach out to us, here:๐
Telegram: t.me/biconomy
Discord: discord.com/channels/69240โฆ
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