TokenBridge: Connecting Chains

Public and private networks continue to thrive within the blockchain ecosystem. However, these standalone networks often exist as islands, unable to interact with one another in meaningful ways. POA’s TokenBridge technology transforms this dynamic. Our interoperability protocols provide fast and secure connections between blockchains. The result is an open, efficient system where assets can effortlessly move between chains.

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Native to ERC20

POA20 Bridge

The POA20 Bridge was the first EVM cross-chain production bridge in existence. Leveraging the underlying Native to ERC20 TokenBridge technology, the POA20 bridge is used today for secure, fast, and inexpensive token transfers between the POA Network and the Ethereum mainnet. To use the POA20 Bridge, a user simply visits the bridge webpage, activates a web3 wallet, selects the amount of tokens to transfer, and clicks send. Thats it!

Behind the scenes, native POA is locked in a smart contract and POA20 is minted on Ethereum. Users can interact with POA20 on the mainnet, and when they are done, transform their POA20 back to POA native coins using the same bridge.

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Lock
POA tokens are locked in a smart contract.
Mint
POA20 tokens are generated on the Ethereum Blockchain
Burn
POA20 tokens are burned on the Ethereum Blockchain
Unlock
Smart contract is activated and POA tokens are unlocked within the POA Blockchain

POA20 Dual Token Economy

POA20 can be thought of as the official POA token on the Ethereum network. POA native coins are transformed into POA20 through the TokenBridge technology. POA20 is an ERC20 token, which means additional services are immediately available for use. These include a selection of exchanges (both decentralized and non-decentralized), lending platforms and payment systems which are only accessible on the mainnet. POA20 can be used with these services, then easily transformed back to the POA Network as native POA. The POA dual token system creates the best of both worlds - accessibility to the mainnet infrastructure and the ability to transfer and use POA on a fast and inexpensive network.

ERC20 to ERC20

The ERC20 to ERC20 Bridge extends the TokenBridge functionality to provide token transfer capabilities between any two EVM (Ethereum Virtual Machine) based chains. The functionality is similar to an atomic swap, where users can swap token “X” in Network A to token “Y” in Network B. The technology allows projects to extend their reach and leverage sidechains for different uses. Interoperability opens the door for collaboration among projects, test networks, and others within the broader ecosystem.

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Lock
Token "X" from one Ethereum Network locked in a smart contract.
Mint
Token "Y" generated on the second Ethereum Network.
Burn
Token "Y" burned on the second Ethereum Blockchain.
Unlock
Smart contract is activated and Token "X" unlocked within the primary Ethereum Network.

ERC20 to Native

xDai Bridge

The xDai chain uses the ERC20 to Native TokenBridge functionality to provide fast, inexpensive and stable transactions. This bridge allows users to transform DAI (an ERC20 stable token) on the mainnet into xDAI on a compatible chain. xDAI tokens can then be sent quickly and with minimal cost on the xDAI network. The circulating supply always remains the same, as DAI are locked in a smart contract when users are transacting with xDAI. The xDAI chain has been a breakout success in the Ethereum community, providing an easy way for vendors to accept a stable cryptocurrency. We look forward to more exciting use cases as additional projects embrace this interoperability protocol.

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Lock
Dai tokens from the Ethereum Network are locked in a smart contract.
Mint
xDai tokens are minted on the xDai Chain network.
Burn
xDai tokens are burned on the xDai Chain network.
Unlock
Smart contract is activated and Dai are unlocked on the Ethereum Network.

Questions?

For a full list of all our questions, please check out our POA20 FAQ page.