What is Across Protocol? How is Across Protocol different from current Bridges? Let’s find out with Weakhand.
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What is Across Protocol?
Across Protocol is a Bridge that allows users to move assets from Layer 2 to Layer 1 and vice versa, between Layer 2 with each other at fast speed, decentralization, low cost, safety and security.
Currently the protocol supports blockchains: Ethereum, Arbitrum, Boba, Optimism, Polygon. Supported assets include ETH, WETH, USDC, DAI,…
Differences Across Protocol
Across is a system combining peer-to-peer “lending” (P2P Lending) and “pooled lending” (Pooled Lending). The combined system allows Across to operate even when no Relayer is online; At the same time, Across can aggregate capital from multiple liquidity providers.
Across Protocol uses a suite of tools to assist users:
- Single-sided Liquidity Pool on Ethereum (Single-sided Liquidity Pool)
- Bonde Drelayer
- Uma Oracle: Across Protocol uses the Orancle network developed by UMA (Optimistic Oracle), which helps the protocol operate: decentralized, resolve disputes, guaranteed by UMA.
This helps move assets instantly, decentralized, cheap, safe and secure.
Across Protocol only requires native token liquidity on Ethereum for asset bridging. At the same time, liquidity providers are paid a fee for each asset transfer.
Fees are charged when users use the Across protocol. There are two types of fees associated with using Across:
- Gas fees
- Bridge fees: Divided into 2 parts, including: LP fee – Fees paid to liquidity providers for providing passive liquidity; Relayer fees – fees chosen by users to incentivize relayers to forward their transactions.
Across combines a 1-of-N security model with an ultra-efficient capital management system to deliver secure, scalable, and low-slip cross-chain connectivity.
Development Roadmap
Updating
Core Team
Updating
Investor
- November 23, 2022: Across successfully raised $10M with the participation of Hack VC, Placeholder, and Blockchain Capital at a valuation of up to $200M.
Tokenomics
Information about Token Across Protocol
- Token name: Across Protocol
- Symbol: ACX
- Blockchain: ERC 20
- Contract: 0x44108f0223A3C3028F5Fe7AEC7f9bb2E66beF82F
- Total supply: 1,000,000,000 ACX
Token Allocation
- Airdrop: 11.5%
- Strategic Partnerships and Fund-Raise: 25%
- Protocol Rewards: 10%
- DAO Treasury: 53.5%
Token Use Case
- Staking: Participate in staking ACX tokens to receive rewards
- Protocol governance: Proposal and voting
Exchanges
ACX tokens are currently being traded on exchanges, such as: MEXC, UniSwap, Balancer, CoinEX, …
Project Information Channel
- Website: https://across.to/
- Twitter: https://twitter.com/AcrossProtocol
- Discord: https://discord.com/invite/sKSkhTtu8s
- Medium:
Summary
Hopefully this article will help people better understand Across Protocol and give themselves opinions about the project.