#DotOracle #CrossChainBridge to arrive on our Mainnet this December!
We believe this will empower DeFi even more
This allows transactions between a token in a chain to that of another chain using DotOracle Network Application.
For example, when a user wants to transfer USDT from Ethereum to MoonBeam chain, the user issues a request bridge transaction on the Ethereum blockchain by using the DotOracle bridge application. The transaction then locks the to-be-bridged amount in the DotOracle bridge smart contract on Ethereum.
On each chain connected in the DotOracle liquidity network, there is a DotOracle bridge smart contract that:
- Issues new wrapped token or unlocks token when users claim digital assets they are transferring cross-chain
- Burns wrapped token or locks token when users want to make a request bridge transaction.
More details: https://bit.ly/DOT-crosschain
