Thread by @holographxyz

1/ Holograph is now live on the Ethereum, Polygon, & Avalanche mainnets 🥳

Holograph makes creating multichain digital assets 10x easier, cheaper, & faster ✨

2/ The recent proliferation of execution environments in the form of L1s, sidechains, & rollups has increased access to inexpensive block space

3/ As this trend continues, it’s reasonable to assume that there will be as many execution environments as there are tokens & that there will be thousands of them

4/ However, without a clean way for these environments to interoperate, data & liquidity fragmentation will continue to be an issue, leading to increased development overhead, security risks, network congestion, & higher fees

5/ Enter Holograph, which provides multichain digital asset infrastructure for the web3 ecosystem

At its core, Holograph enables the deployment of natively multichain digital assets, which are assets that exist as single instances across multiple execution environments

6/ Non-fungible tokens minted with Holograph (hNFTs) maintain the same contract address & token ID on all EVM environments, enabling them to move between networks with perfect provenance

7/ Fungible tokens that are wrapped with Holograph (hTokens) maintain the same contract address on all EVM environments, providing a clear & concise method for auditing locked liquidity

8/ With Holograph, all digital assets are minted equally

If the properties of a digital asset are the same on all execution environments, then it doesn't matter on what network the digital asset was originally minted

9/ Holograph renders network tribalism obsolete

10/ Ultimately, the introduction of natively multichain digital assets makes it possible for smart contracts to interoperate seamlessly across all EVM environments

This enables the development of an entirely new class of user experiences: natively integrated multichain apps

11/ Natively integrated multichain apps:

- Are built with cross-chain interactions in mind from the ground up
- Hide the complexity of cross-chain logic behind simple, unified interfaces
- Combine digital asset liquidity across multiple execution environments

12/ The very first natively integrated multichain experience is Holograph App, which provides interfaces for creators to create, deploy, mint, bridge, buy, & sell multichain digital collectibles

Try Holograph App 👉 app.holograph.xyz

13/ Holograph App empowers creators by enabling:

- The deployment of collections on multiple networks simultaneously
- The distribution of collections on multiple marketplaces on multiple networks
- The collection of royalties on multiple marketplaces on multiple networks

14/ Holograph supports multichain creator sovereignty by removing the boundaries between execution environments & empowering users to transact wherever they want

15/ If a user wants to transact quickly & cheaply while perhaps sacrificing security, then they should be able to do so

If a user wants sovereign-grade decentralization while perhaps sacrificing speed, then they should be able to do so

16/ Holograph App is the first of many use cases that demonstrate the power of natively integrated multichain composability

17/ Underlying Holograph App is Holograph Protocol, managed by Holograph Foundation

18/ Holograph Protocol empowers developers by providing:

- A command-line interface for protocol interactions
- APIs, Libraries, & SDKs to build natively integrated multichain apps

19/ Holograph Protocol consists of specially configured factory smart contracts that are deployable on all EVM execution environments

20/ These smart contracts leverage the CREATE2 functionality of EIP-1014, which allows for the same bytecode to derive the same contract address on any EVM environment

eips.ethereum.org/EIPS/eip-1014

21/ Data persistence is achieved by the Holographic Bridging process, which combines the CREATE2 opcode with the reciprocal burn & mint method when bridging digital assets between networks

22/ For more on the reciprocal burn & mint method, check out this thread 👇

https://twitter.com/lostmidas/status/1584617074801852416

23/ For more on Holograph Protocol, check out the Protocol Specification 👇

docs.holograph.xyz/holograph-prot…

24/ Furthermore, Holograph employs use of Operators, which is a network of ecosystem participants who execute bridge transactions for users (aka “jobs”)

25/ Operators reduce user friction when bridging digital assets by:

- Reducing the number of txs needed to execute the process
- Removing the need to switch networks
- Removing the need to manage multiple gas tokens

26/ To execute jobs, operators must bond the protocol’s native token, HLG, issued by Holograph Foundation

The probability of getting selected to execute a job is based on the number of tokens bonded - the more tokens bonded, the higher the probability of selection

27/ Operators who successfully execute jobs earn bridge transaction fees plus HLG rewards

28/ Operators who fail to execute jobs will have a number of their bonded tokens slashed

29/ For more on Holograph’s Operator Network, check out the Operator Network Specification 👇

docs.holograph.xyz/holograph-prot…

30/ What’s next for Holograph?

Over the next 3 to 6 months, Holograph plans to:

- Add new networks
- Update Holograph App’s interface design
- Enable creators to distribute digital collectibles on a personal drop page
- Introduce third-party developer modules

31/ Experience the magic of Holograph for yourself by using the app & reading the documentation

Holograph App 👉 app.holograph.xyz

Holograph Docs 👉 [docs.holograph.xyz

32/ Like this thread? Make sure to keep in touch!

Discord 👉 discord.gg/holograph