diff --git a/.gitbook/assets/Screenshot 2023-01-01 at 8.23.51 PM.png b/.gitbook/assets/Screenshot 2023-01-01 at 8.23.51 PM.png new file mode 100644 index 0000000..21a9480 Binary files /dev/null and b/.gitbook/assets/Screenshot 2023-01-01 at 8.23.51 PM.png differ diff --git a/.gitbook/assets/Screenshot 2023-01-01 at 8.28.37 PM.png b/.gitbook/assets/Screenshot 2023-01-01 at 8.28.37 PM.png new file mode 100644 index 0000000..1a20a1b Binary files /dev/null and b/.gitbook/assets/Screenshot 2023-01-01 at 8.28.37 PM.png differ diff --git a/.gitbook/assets/Screenshot 2023-01-01 at 8.37.04 PM.png b/.gitbook/assets/Screenshot 2023-01-01 at 8.37.04 PM.png new file mode 100644 index 0000000..e5a08c3 Binary files /dev/null and b/.gitbook/assets/Screenshot 2023-01-01 at 8.37.04 PM.png differ diff --git a/.gitbook/assets/Screenshot 2023-01-01 at 8.41.30 PM.png b/.gitbook/assets/Screenshot 2023-01-01 at 8.41.30 PM.png new file mode 100644 index 0000000..cb8e94f Binary files /dev/null and b/.gitbook/assets/Screenshot 2023-01-01 at 8.41.30 PM.png differ diff --git a/.gitbook/assets/image (1).png b/.gitbook/assets/image (1).png new file mode 100644 index 0000000..387e24c Binary files /dev/null and b/.gitbook/assets/image (1).png differ diff --git a/.gitbook/assets/image (2).png b/.gitbook/assets/image (2).png new file mode 100644 index 0000000..1c9d5ba Binary files /dev/null and b/.gitbook/assets/image (2).png differ diff --git a/.gitbook/assets/image (3).png b/.gitbook/assets/image (3).png new file mode 100644 index 0000000..7d5a865 Binary files /dev/null and b/.gitbook/assets/image (3).png differ diff --git a/.gitbook/assets/image.png b/.gitbook/assets/image.png index 1c9d5ba..7f7bf50 100644 Binary files a/.gitbook/assets/image.png and b/.gitbook/assets/image.png differ diff --git a/SUMMARY.md b/SUMMARY.md index 63f2a5a..4101f81 100644 --- a/SUMMARY.md +++ b/SUMMARY.md @@ -2,13 +2,19 @@ * [What is ALEX?](README.md) -## Protocol +## 💱 Trading, Lending and Borrowing -* [Overview](protocol/platform-architecture-that-supports-ecosystem-development.md) -* [Trading Pool](protocol/trading-pool.md) -* [Collateral Rebalancing Pool](protocol/collateral-rebalancing-pool.md) -* [Yield Token Pool](protocol/automated-market-making-designed-for-lending-protocols.md) -* [Vault](protocol/vault.md) +* [Our Design](trading-lending-and-borrowing/platform-architecture-that-supports-ecosystem-development.md) +* [Trading Pool](trading-lending-and-borrowing/trading-pool.md) +* [Collateral Rebalancing Pool](trading-lending-and-borrowing/collateral-rebalancing-pool.md) +* [Yield Token Pool](trading-lending-and-borrowing/automated-market-making-designed-for-lending-protocols.md) +* [Vault](trading-lending-and-borrowing/vault.md) + +## 🌉 Bridge + +* [What is Bridge?](bridge/platform-architecture-that-supports-ecosystem-development.md) +* [How does it work?](bridge/how-does-it-work.md) +* [Using the Bridge](bridge/using-the-bridge.md) ## Whitepaper diff --git a/bridge/how-does-it-work.md b/bridge/how-does-it-work.md new file mode 100644 index 0000000..6caad27 --- /dev/null +++ b/bridge/how-does-it-work.md @@ -0,0 +1,46 @@ +# How does it work? + +As mentioned [before](platform-architecture-that-supports-ecosystem-development.md), ALEX Bridge partners with Wrapped to bring a bridge experience that is both secure and responsible. + +## Custory of assets and monitoring of reserves + +ALEX Bridge is custodial in that the tokens being bridged are held in contracts on Ethereum and Stacks owned and controlled by Wrapped. Users can monitor the reserves real-time at [https://open.wrapped.com/reserves/](https://open.wrapped.com/reserves/). + +## Design overview + +
+ +ALEX Bridge also is bi-directional or “two-way” bridge, meaning you can freely transfer assets between Stacks and Ethereum and vice versa. + +Users interact with "Endpoints" on the source blockchain to send assets to be bridged ("source asset") to Wrapped. Upon receiving the source assets, Wrapped then sends the destination assets to the Endpoint on the destination blockchain. + +Asset transfers from users to Wrapped and from Wrapped to Endpoints are monitored by a group of "validators", who produce cryptographic proofs that say "X amount of source asset are sent by address A on the source blockchain for address B on the destination blockchain to receive Y amount of destination asset." + +There is a minimum threshold of such proofs that must be provided and verified before the assets received into Endpoint can be sent to the relevant address. + +Upon meeting such minimum threshold, a "relayer" calls into Endpoint with the proofs to trigger the transfer of the received destination assets to the relevant address. + +### Endpoints + +Endpoints are the smart contracts that handle the asset transfers. They are owned by multisig contracts ([Gnosis Safe](https://safe.global/) on Ethereum and [Executor DAO](https://explorer.stacks.co/txid/0xf4bd95ea0486e6a50ae632c613f1d72b2a5bbbc4211b494cd0f1d3443658544d?chain=mainnet) on Stacks) operated by ALEX LAB Foundation. + +Users use Endpoints to trigger transfer of source assets to Wrapped. The destination assets are sent to the Endpoints, which are then sent by a relayer by producing cryptographic proofs. + +That the assets are held by contracts owned by multisig contracts is important because this minimises the risk of a malicious actor stealing the private key and assets sent by users and Wrapped. + +CoinFabrik audited the Endpoints. + +### Validators + +Validators are responsible for producing cryptographic proofs, which must be verified by the Endpoints before transferring the destination assets to an address. Validators consist of ALEX LAB Foundation members and active community contributors. + +Validators are important because this set-up minimises the risk of a malicious actor taking over the system (for example, a relayer) and hijacking the destination assets as they arrive from Wrapped. + +### Relayers + +Relayers are responsible for triggering the destination asset transfer upon gathering a minimum threshold of cryptographic proofs produced by the validators. + + + + + diff --git a/bridge/platform-architecture-that-supports-ecosystem-development.md b/bridge/platform-architecture-that-supports-ecosystem-development.md new file mode 100644 index 0000000..63694db --- /dev/null +++ b/bridge/platform-architecture-that-supports-ecosystem-development.md @@ -0,0 +1,35 @@ +# What is Bridge? + +
+ +Developed in partnership with [Wrapped](https://app.gitbook.com/s/wFwxyo05u2LDudAxiuAv/), ALEX Bridge connects Stacks and Ethereum, allowing users to move crypto assets between the two blockchains. + +ALEX Bridge will initially support the exchange of USDC (ERC20) and xUSD (Stacks), with a plan to add support for xALEX/ALEX, WBTC/xBTC, ETH/xETH and others. + +## Why do we need a bridge to move crypto assets between blockchains? + +If you want to move tokens from one blockchain to another, you’ll need to use a blockchain bridge to transfer those assets. + +Blockchain assets are often not compatible with one another — Stacks uses SIP-10 tokens and Ethereum uses ERC-20. To solve this incompatibility, blockchain bridges create synthetic derivatives that represent an asset from another blockchain. + +So when a bridge is used to send USDC tokens from Ethereum to a Stacks wallet, that wallet will receive a token that has been “[wrapped](https://www.coindesk.com/learn/what-are-wrapped-tokens/)” by the bridge — converted to a token based on the target blockchain, in this case from USDC to xUSD, which are pegged 1:1. + +## What are the main types of blockchain bridges? + +Bridges are either **custodial** (also known as centralized or trusted) or **noncustodial** (decentralized or trustless). The difference is in who controls the tokens that are used to create the bridged assets. + +ALEX Bridge is custodial; USDC is wrapped into xUSD by Wrapped with a multisig contract on Ethereum. + +ALEX Bridge is also bi-directional or “two-way” bridge, meaning you can freely transfer assets between Stacks and Ethereum and vice versa. + +## Is ALEX Bridge safe? + +As with all crypto technology, risk is real whether using a centralized or decentralized bridge. Some of the more novel decentralized bridges are relatively untested and even those that have been tested are still subject to exploits. + +ALEX Bridge uses Wrapped ([https://wrapped.com/](https://wrapped.com/)), a long-established and reputable tech partner that has already collaborated with Stacks in creating xBTC. Wrapped is focused on building wrapped bridge technologies on multiple blockchains, including Ethereum, Solana, Polkadot and Stacks. + +ALEX Bridge uses both ALEX and Wrapped technologies, enabling us to better segregate the risk. With fine-tuning and careful testing, we are getting ready to bring a reliable and easy-to-use bridge to all Stacks users. + +## What is Wrapped? + +Wrapped was [launched by Anchorage and Tokensoft](https://blog.tokensoft.io/tokensoft-partners-with-anchorage-to-bring-wrapped-layer-one-assetsto-ethereum-e08c4a3b72c), and uses both [Tokensoft](https://www.tokensoft.io/) and Anchorage technologies. In this partnership, Anchorage provides custody of the underlying assets as a qualified custodian. Tokensoft, the leading technology platform for companies issuing digital assets, administers the digital representation of the asset on the multiple networks. diff --git a/bridge/using-the-bridge.md b/bridge/using-the-bridge.md new file mode 100644 index 0000000..cd82ea2 --- /dev/null +++ b/bridge/using-the-bridge.md @@ -0,0 +1,48 @@ +# Using the Bridge + +ALEX Bridge is available at [https://bridge.alexlab.co](https://bridge.alexlab.co). + +## Fee + +There are two layers of fees to use the Bridge. + +10bps is deducted from the source asset, which goes towards covering the operational cost of the Bridge (including gas fee on both Ethereum and Stacks for the destination asset transfer). Any balances go to ALEX DAO Treasury. + +Wrapped charges a variable fee based on the amount of the transfer. You can find their fee schedule [here](https://app.gitbook.com/s/wFwxyo05u2LDudAxiuAv/). + +## From USDC to xUSD + +You must have a valid Ethereum address, a valid Stacks address and connected to ALEX Bridge. + +
+ +On the left, you can see the balance of USDC held at your wallet. Enter the amount of USDC you want to bridge over to Stacks, and, on the right, you will see the amount of xUSD you will receive (net of [fees](using-the-bridge.md#fee)). + +If you click on Details, you will see the details of the [fee](using-the-bridge.md#fee) and the time expected to take to bridge over USDC to xUSD. + +Clicking on Wrap, you can confirm the transfer on the familiar MetaMask pop-up window. Please note that once you confirm the transfer and the transaction confirmed, it is not reversible. + +After that, you will see another pop-up from MetaMask that asks you to sign the transaction, togehter with your Stacks address ("ToAddress"). This is important because this is the cryptographic proof that you want to send the resulting xUSD to that Stacks address of yours. + +Once you complete these two steps, you can monitor the bridge transfer on the [Order History](using-the-bridge.md#order-history). + +## From xUSD to USDC + +Just like from USDC to xUSD, you must have a valid Ethereum address, a valid Stacks address and connected to ALEX Bridge. + +
+ +On the left, you can see the balance of xUSD held at your wallet. Enter the amount of xUSD you want to bridge over to Ethereum, and, on the right, you will see the amount of USDC you will receive (net of [fees](using-the-bridge.md#fee)). + +If you click on Details, you will see the details of the [fee](using-the-bridge.md#fee) and the time expected to take to bridge over xUSD to USDC. + +Clicking on Unwrap, you can confirm the details of the transfer (including your Ethereum address), following which you will confirm the transaction on the familiar Hiro (or Xverse) pop-up window. Please note that once you confirm the transfer and the transaction confirmed, it is not reversible. + +Once you complete these two steps, you can monitor the bridge transfer on the [Order History](using-the-bridge.md#order-history). + +## Order History + +You can use Order History to monitor the current transfers as well as reviewing historical transfers. You will also find order hashes, which would be useful if you have issues with any of the orders and need to speak to the community managers for help. + +
+ diff --git a/protocol/automated-market-making-designed-for-lending-protocols.md b/trading-lending-and-borrowing/automated-market-making-designed-for-lending-protocols.md similarity index 100% rename from protocol/automated-market-making-designed-for-lending-protocols.md rename to trading-lending-and-borrowing/automated-market-making-designed-for-lending-protocols.md diff --git a/protocol/collateral-rebalancing-pool.md b/trading-lending-and-borrowing/collateral-rebalancing-pool.md similarity index 100% rename from protocol/collateral-rebalancing-pool.md rename to trading-lending-and-borrowing/collateral-rebalancing-pool.md diff --git a/protocol/platform-architecture-that-supports-ecosystem-development.md b/trading-lending-and-borrowing/platform-architecture-that-supports-ecosystem-development.md similarity index 91% rename from protocol/platform-architecture-that-supports-ecosystem-development.md rename to trading-lending-and-borrowing/platform-architecture-that-supports-ecosystem-development.md index ffb15fd..fff1bcd 100644 --- a/protocol/platform-architecture-that-supports-ecosystem-development.md +++ b/trading-lending-and-borrowing/platform-architecture-that-supports-ecosystem-development.md @@ -1,4 +1,4 @@ -# Overview +# Our Design ALEX allows for implementation of arbitrary trading strategies and borrows its design from [Balancer V2](https://docs.balancer.fi). @@ -46,12 +46,6 @@ Collateral Rebalancing Pool ("CRP") uses Weighted Equation and dynamically rebal Yield Token Pool ("YTP") uses Yield Token Equation and is designed specifically to facilitate efficient trading between ayToken and Token. -### Liquidity Bootstrapping Pool - -Liquidity Bootstrapping Pool ("LBP") uses Weighted Equation and is designed to facilitate a capital efficient launch of a token (the "Base Token") relative to another token (the "Target Token"). - -LBP is used to initialise all Yield Token Pools (with ayToken being the Base Token and Token being the Target Token). - ## Vault Vault holds and manages the assets of all ALEX pools. The separation of pool and vault has many benefits including, among others, cheaper transaction costs for users and quicker learning curve for developers when building custom pools on ALEX. diff --git a/protocol/trading-pool.md b/trading-lending-and-borrowing/trading-pool.md similarity index 100% rename from protocol/trading-pool.md rename to trading-lending-and-borrowing/trading-pool.md diff --git a/protocol/vault.md b/trading-lending-and-borrowing/vault.md similarity index 100% rename from protocol/vault.md rename to trading-lending-and-borrowing/vault.md