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Alex Daddy
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README.md
12
README.md
@@ -10,7 +10,7 @@ XLink is a key component of any projects building on Bitcoin that abstracts the
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XLink is bi-directional or “two-way” bridge, meaning you can freely transfer assets between Bitcoin and its L2s and vice versa.
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On Bitcoin, users interact with [Multisigs](./#multisigs) (operated by XLink DAO Foundation) to lock assets to be bridged ("source asset"), and on L2s to receive the L2 asset ("destination asset").
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On Bitcoin, users interact with [Multisigs](./#multisigs) (operated by a decentralised network of validators and verifiers) to lock assets to be bridged ("source asset"), and on L2s to receive the L2 asset ("destination asset").
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Additionally, users on Bitcoin may provide additional data (`OP_RETURN`) to trigger certain smart contract interaction on their behalf automatically by Bitcoin Bridge.
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@@ -28,7 +28,7 @@ Multisigs are Bitcoin wallets that are operated by multiple signers. In contrast
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## Endpoints
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Endpoints are the smart contracts that handle the asset transfers. They are owned by multisig contracts (for example, [Gnosis Safe](https://safe.global/) on Ethereum and [Executor DAO](https://explorer.stacks.co/txid/0xf4bd95ea0486e6a50ae632c613f1d72b2a5bbbc4211b494cd0f1d3443658544d?chain=mainnet) on Stacks) operated by XLink DAO Foundation.
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Endpoints are the smart contracts that handle the asset transfers. They are owned by multisig contracts (for example, [Gnosis Safe](https://safe.global/) on Ethereum and [Executor DAO](https://explorer.stacks.co/txid/0xf4bd95ea0486e6a50ae632c613f1d72b2a5bbbc4211b494cd0f1d3443658544d?chain=mainnet) on Stacks) operated by a decentralised network of validators and verifiers.
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Users use Endpoints to trigger transfer of source assets. The destination assets are then sent by a relayer by producing cryptographic proofs.
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@@ -38,10 +38,16 @@ That the assets are held by contracts owned by multisig contracts is important b
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Validators are responsible for producing cryptographic proofs, which must be verified by the Endpoints before transferring the destination assets to an address.
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Bitcoin Oracle runs the validator network for and secures the Bitcoin Bridge.
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[Bitcoin Oracle](https://docs.alexgo.io/bitcoin-oracle/what-is-the-bitcoin-oracle) runs the validator network for XLink.
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Validators are important because this set-up minimises the risk of a malicious actor taking over the system (for example, a relayer).
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## Verifiers
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Verifiers provide an additional level of protection by verifying those asset transfers requested by Relayers are good and not tempered. Verifiers thus complement the Endpoints verification by incorporating additional off-chain information which may not be available to the Endpoints.
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[Bitcoin Orable](https://docs.alexgo.io/bitcoin-oracle/what-is-the-bitcoin-oracle) runs the verifier network for XLink.
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## Relayers
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Relayers are responsible for triggering the destination asset transfer upon gathering a minimum threshold of cryptographic proofs produced by the validators.
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@@ -6,5 +6,4 @@
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* [Bitcoin](integrations/understanding-the-bitcoin-bridge.md)
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* [Bitcoin L2s](integrations/bitcoin-l2s.md)
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* [Non-Bitcoin chains](integrations/non-bitcoin-chains.md)
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* [🟧 aBTC](abtc-a.k.a-alex-btc.md)
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* [Security Audits](security-audits.md)
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# 🟧 aBTC
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### 1 aBTC = 1 BTC
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aBTC is a fully-functional SIP010 token on Stacks, where 1 aBTC represents 1 BTC locked in the multisig operated by XLink DAO Foundation.
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Its role is somewhat similar to the role WETH plays for ETH - it allows BTC to interact with smart contracts on Bitcoin.
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When a BTC holder interacts with smart contracts on Stacks, under the hood, [Bitcoin Bridge](bitcoin-bridge/broken-reference/) receives BTC into its [multisig](abtc-a.k.a-alex-btc.md#multisig-address) and triggers minting of the corresponding aBTC, which is then sent to the relevant smart contract to interact on behalf of the BTC holder.
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aBTC holders can also interact with smart contracts on Stacks (just like they would do with any SIP010 tokens) to receive BTC into their Bitcoin wallet, in which case, Bitcoin Bridge burns aBTC and sends the relevant BTC from its multisig.
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### Enabler of Bitcoin Finance
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So if we say the combination of Bitcoin as the data layer and Stacks as its smart contract layer is a complete circulatory system that drives the body of Bitcoin economy, Bitcoin Bridge is its blood vessels and aBTC its blood.
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### So how is aBTC different from [sBTC](https://sbtc.tech)?
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We are introducing aBTC in anticipation of the roll-out of sBTC, to demonstrate to BTC holders what is possible when Bitcoin has its own smart contract layer and prepare our community for the sBTC roll-out.
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aBTC gives us an early opportunity to develop the kind of user experience, _that_ Bitcoin DeFi experience, we want to have when sBTC is released and identify the areas of improvement to help its development.
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Bitcoin Bridge will readily integrate sBTC when it is available, alongside aBTC.
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### So how is aBTC different from [xBTC](https://open.wrapped.com/coins/XBTC)?
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xBTC and aBTC are complementary because they follow different custodial models. The former uses institutional custodian and requires KYC for wrap/unwrap, while the latter uses a community-owned multisig and does not require KYC.
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We are introducing aBTC because it makes possible the kind of tight integration of BTC with Stacks smart contract we want, to deliver that "native-like" DeFi experience on Bitcoin, which is not possible with xBTC.
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### High-level summary of comparison between aBTC, xBTC and sBTC
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<table><thead><tr><th></th><th>aBTC</th><th width="186">xBTC</th><th>sBTC</th></tr></thead><tbody><tr><td>Issuer</td><td>ALEX</td><td>Wrapped</td><td>Stacks</td></tr><tr><td>Custodial model</td><td>Community-owned multisig</td><td>Institutional custodian</td><td>Open membership multisig</td></tr><tr><td>Integration with Bitcoin Bridge</td><td>Yes</td><td>No</td><td>Yes</td></tr><tr><td>KYC</td><td>No</td><td>Yes</td><td>No</td></tr><tr><td>Availability</td><td>Now</td><td>Now</td><td>2024</td></tr></tbody></table>
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### Where can I find more information on aBTC?
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#### Reserve
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{% embed url="https://app.xlink.network/bridge-reserve" %}
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#### Contract deployment
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[https://explorer.hiro.so/txid/SP2XD7417HGPRTREMKF748VNEQPDRR0RMANB7X1NK.token-abtc?chain=mainnet](https://explorer.hiro.so/txid/SP2XD7417HGPRTREMKF748VNEQPDRR0RMANB7X1NK.token-abtc?chain=mainnet)
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#### Multisig address
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{% embed url="https://mempool.space/address/bc1q9hs56nskqsxmgend4w0823lmef33sux6p8rzlp" %}
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#### Token logo
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<figure><img src="https://token-images.alexlab.co/token-abtc" alt=""><figcaption></figcaption></figure>
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###
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Integration requires a deployment of an endpoint smart contract on the target chain.
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For EVM-based chains, such endpoints are currently deployed on [Ethereum](https://etherscan.io/address/0xfd9f795b4c15183bdba83da08da02d5f9536748f) and [BNB Chain](https://bscscan.com/address/0xb3955302e58fffdf2da247e999cd9755f652b13b).
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For the list of currently supported chains, please visit [XLink Contract Deployment](https://app.gitbook.com/s/xagAneFBZMxG6fw5k0WK/).
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Below is a typical integration process, which may take between 1 and 3 weeks.
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Below is a typical integration process.
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## Endpoint deployment (1 week)
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## Endpoint deployment
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Endpoints are the smart contracts that handle the asset transfers. They are owned by multisig contracts (for example, [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 (with a plan to decentralisation).
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Endpoints are the smart contracts that handle the asset transfers. They are owned by multisig contracts (for example, [Gnosis Safe](https://safe.global/) on Ethereum and [Executor DAO](https://explorer.stacks.co/txid/0xf4bd95ea0486e6a50ae632c613f1d72b2a5bbbc4211b494cd0f1d3443658544d?chain=mainnet) on Stacks) operated by a decentralised network of validators and verifiers.
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Users use Endpoints to trigger transfer of source assets. The destination assets are then sent by a relayer by producing cryptographic proofs.
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## Configuration of endpoint (< 1 week)
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## Configuration of endpoint
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Once the endpoint is deployed, it can be configured to meet the needs of the source chain.
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The configuration parameters include, among others,:
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* Approved list of tokens to be supported on the Bridge,
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* Approved list of tokens to be supported on the Endpoint,
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* Approved list of validators whose cryptographic proofs of token transfer event are accepted,
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* Approved list of relayers who can submit the cryptographic proofs from the validators,
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* Validator threshold, and
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* Fee schedule
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## Integration with Bitcoin Oracle (> 1 week)
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## Integration with Bitcoin Oracle
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Bitcoin Bridge scales by partnering with [Bitcoin Oracle](../bitcoin-bridge/integrations/broken-reference/) which runs the validation network.
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XLink scales by partnering with [Bitcoin Oracle](https://docs.alexgo.io/bitcoin-oracle/what-is-the-bitcoin-oracle) which runs the validator and verifier networks of XLink.
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Bitcoin Oracle observes every endpoint on the Bitcoin Bridge and produces a set of cryptographic proofs for the relevant destination chain to process.
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Bitcoin Oracle produces the consensus data based on the computation from the off-chain engines and provides a consensus model framework that allows the end consumer to customise their consensus model by optimising across the trust and the security budget.
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Bitcoin Oracle produces the [consensus data](broken-reference) based on the computation from the off-chain engines and provides a [consensus model framework](broken-reference) that allows the end consumer to customise their consensus model by optimising across the trust and the security budget.
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The validators of Bitcoin Oracle observe every Endpoint on the XLink and produce a set of cryptographic proofs for the relevant destination chain to process.
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Bitcoin Bridge uses a mixture of required and optional validators (with 51% threshold) to secure its bridge, which brings the following benefits:
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The relayers then aggregate those cryptographic proofs and submit to the relevant destination Endpoints upon meeting the validator threshold.
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* It lowers the barrier to entry to join the validator network, encouraging more members of its community to participate in securing the bridge.
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* Security budget is replaced with a set of trusted validators, which essentially acts as the secondary check against the consensus derived from the network.
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* Larger part of the incentives can be allocated to encouraging the community to join and actively participate in securing the bridge.
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* Smaller part of the incentives needs to be alloacted to the "insurance" fund.
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* 51% threshold and the lower barrier to entry to join the network means it is expensive for the required validators to take over the validator network.
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* Likewise, malicious actors cannot take over the validator network even if they own all optional validators (which is very unlikely) unless they also take over every required validator.
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The submissions by the relayers are verified by the verifiers, which act as the additional protection to the verification by the Endpoint.
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## Wrapped asset deployment (optional)
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## Synthetic asset deployment (optional)
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Where required, an wrapped asset may be deployed on the destination chains to allow the bridging of the asset from its source chain to the destimation chains.
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Where required, a synthetic asset may be deployed on the destination chains to allow the bridging of the asset from its source chain to the destimation chains.
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On L2s or non-Bitcoin chains, users interact with "Endpoints" on the source blockchain to lock assets to be bridged ("source asset"), and on the destination blockchain to receive the bridged asset ("destination asset").
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Endpoints are the smart contracts that handle the asset transfers. They are owned by multisig contracts (for example, [Gnosis Safe](https://safe.global/) on Ethereum and [Executor DAO](https://explorer.stacks.co/txid/0xf4bd95ea0486e6a50ae632c613f1d72b2a5bbbc4211b494cd0f1d3443658544d?chain=mainnet) on Stacks) operated by XLink DAO Foundation.
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Endpoints are the smart contracts that handle the asset transfers. They are owned by multisig contracts (for example, [Gnosis Safe](https://safe.global/) on Ethereum and [Executor DAO](https://explorer.stacks.co/txid/0xf4bd95ea0486e6a50ae632c613f1d72b2a5bbbc4211b494cd0f1d3443658544d?chain=mainnet) on Stacks) operated by a decentralsed network of validators and verifiers.
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Users use Endpoints to trigger transfer of source assets. The destination assets are then sent by a relayer by producing cryptographic proofs.
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On L2s or non-Bitcoin chains, users interact with "Endpoints" on the source blockchain to lock assets to be bridged ("source asset"), and on the destination blockchain to receive the bridged asset ("destination asset").
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Endpoints are the smart contracts that handle the asset transfers. They are owned by multisig contracts (for example, [Gnosis Safe](https://safe.global/) on Ethereum and [Executor DAO](https://explorer.stacks.co/txid/0xf4bd95ea0486e6a50ae632c613f1d72b2a5bbbc4211b494cd0f1d3443658544d?chain=mainnet) on Stacks) operated by XLink DAO Foundation.
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Endpoints are the smart contracts that handle the asset transfers. They are owned by multisig contracts (for example, [Gnosis Safe](https://safe.global/) on Ethereum and [Executor DAO](https://explorer.stacks.co/txid/0xf4bd95ea0486e6a50ae632c613f1d72b2a5bbbc4211b494cd0f1d3443658544d?chain=mainnet) on Stacks) operated by a decentralised network of validators and verifiers.
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Users use Endpoints to trigger transfer of source assets. The destination assets are then sent by a relayer by producing cryptographic proofs.
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# Bitcoin
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On Bitcoin, users interact with Multisigs (operated by XLink DAO Foundation, with a plan to decentralisation) to lock assets to be bridged ("source asset"), and on L2s to receive the L2 asset ("destination asset").
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On Bitcoin, users interact with Multisigs (operated by a decentralsed network of validators and verifiers) to lock assets to be bridged ("source asset"), and on L2s to receive the L2 asset ("destination asset").
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Additionally, users on Bitcoin may provide additional data (`OP_RETURN`) to trigger certain smart contract interaction on their behalf automatically by Bitcoin Bridge.
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Additionally, users on Bitcoin may provide additional data (`OP_RETURN`) to trigger certain smart contract interaction on their behalf automatically by XLink.
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Multisigs are Bitcoin wallets that are operated by multiple signers. In contrast to a typicall wallet requiring just one party to sign a transaction, a multisig requires multiple parties or signers to sign a transaction.
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14
reserves.md
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reserves.md
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## Latest circulating supply of aBTC
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For more details on aBTC, please visit [here](abtc-a.k.a-alex-btc.md).
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For more details on aBTC, please visit [here](broken-reference).
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You can check the latest circulating supply of aBTC or other L2 BRC20 tokens by calling `get-total-supply` function of the relevant contract (please note the number is in 8-digit fixed notation, i.e. the last 8 digits represent the decimals).
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Alternatively the same is also available at, for example, for aBTC
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{% embed url="https://api.alexlab.co/v1/stats/total_supply/token-abtc" %}
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{% embed url="https://api.alexgo.io/v1/stats/total_supply/SP2XD7417HGPRTREMKF748VNEQPDRR0RMANB7X1NK.token-abtc" %}
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## Latest circulating supply of sUSDT
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You can check the latest circulating supply of sUSDT by calling `get-total-supply` function of the [contract](https://explorer.hiro.so/txid/0xa4157b445d284951436706e2e9f1b5819e48526c8ef363f93df38c461d8a3192?chain=mainnet) (please note the number is in 8-digit fixed notation, i.e. the last 8 digits represent the decimals).
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Alternatively the same is also available at
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{% embed url="https://api.alexlab.co/v1/stats/total_supply/token-susdt" %}
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{% embed url="https://api.alexgo.io/v1/stats/total_supply/SP2XD7417HGPRTREMKF748VNEQPDRR0RMANB7X1NK.token-susdt" %}
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@@ -2,7 +2,7 @@
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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.
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Bitcoin Bridge is audited by CoinFabrik, covering both the contracts and the backends.
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XLink is audited by CoinFabrik, covering both the contracts and the backends.
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* [https://cdn.alexlab.co/pdf/ALEX\_Audit\_bridge\_coinfabrik\_202212.pdf](https://cdn.alexlab.co/pdf/ALEX\_Audit\_bridge\_coinfabrik\_202212.pdf)
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* [https://cdn.alexlab.co/pdf/ALEX\_Audit\_Bridge\_2023-04.pdf](https://cdn.alexlab.co/pdf/ALEX\_Audit\_Bridge\_2023-04.pdf)
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