Integration of Conflux chain to ChainPort bridge

#1

Technical Grant Application - ChainPort

APPLICATION INTRODUCTION
ChainPort is a next-gen hard-security blockchain bridge that lets you hop across chains at a click. ChainPort employs full fund segragation, meaning contracts operating the bridge hold only an operating budget, and over 95% of funds are secured by MPC (Fireblocks) and/or Multi-Sig Vault Contracts (Gnosis). We support porting tokens to/from 13 of the most popular EVM chains as well as Cardano. ChainPort can help new users get into the Conflux ecosystem by providing cross chain support to/from other popular blockchains.

ChainPort also provides a custom custody solution allowing projects and/or DAOs to retain control over their liquidity, both the deposited frozen liquidity on source chains (i.e. act as required signatory on the MPC/Gnosis on source chain liquidity vaults), as well as retain manageability over target chains’ liquidity (i.e. being able to manage and apply security features to freeze token/addresses or upgrade tokens on the target chains).

TEAM

ChainPort is built and maintained by DcentraLab, you can meet our team on Linkedin

TOTAL BUDGET AND FUNDING TIER

Tier 2: $14k for setup and ongoing maintenance.

  • Setup Conflux as target chain on ChainPort network - allowing projects originated on other chains to port to Conflux. ($6k) - timeline - up to 1 month.
  • Setup Conflux as main chain on ChainPort network - allowing projects originated on Conflux to branch out to other chains. ($7k) - timeline - up to 1 months.
  • Ongoing Maintenance, monitoring, management and support ($1k) - timeline - yearly ongoing.

CURRENT FUNCTIONALITY

ChainPort allows users to bridge tokens to/from 14 different blockchains at a click of a button. Most bridge transactions take less than two minutes. We also have several security features, automated monitoring tools and on-chain mechanisms to protect user funds from malicious actors. ChainPort employs full fund segregation, 95% of funds are stored in MPC and/or multi sig vaults.

TECHNICAL PROPOSAL

ChainPort will add the Conflux blockchain to its list of supported networks. Users will be able to:

  • Port native Conflux tokens to other EVM chains
  • Port tokens from EVM chains to Conflux
  • We can also potentially open up Cardano ports for certain tokens by request
  • We offer a fee-sharing model for projects that choose to use ChainPort. We also offer a fee-sharing model for organizations that refer us to projects.

Once Conflux is added to the list of supported networks at ChainPort, it will open up pathways for new users to enter the Conflux ecosystem.

SYSTEM MODEL

Glossary:

  1. Base-Chain/Source-Chain - The blockchain that the Base-Token was generated on.
  2. Base-Token - ERC20 token that was created on EVM compatible blockchain:
  3. Deposit - Deposit Base-Token on Base-Chain bridge contract
  4. Burn - Remove from circulation Wrapped-Tokens by a transaction to the Zero-Address . Used in:
    1. Port Process
    2. Redeem Process
  5. Release - Release Base-Token from Base-Chain bridge contract. Used in:
    1. Redeem Process
  6. Main-Chain - Refer to a deployed contract on a blockchain that gives that chain the ability to function as a Source-Chain - deposit native tokens on that blockchain and port to other side chains.
  7. Mint - Generate Wrapped-Tokens as part of Port
  8. Native-Token - ERC20 token that was created on EVM compatible blockchain.
  9. Port - One use case of ChainPort, includes:
    1. Deposit Base-Token on Main-Chain and Mint Wrapped-Token on Side-Chain
    2. Burn Wrapped-Token on Side-Chain and Mint Wrapped-Token on Side-Chain
  10. Redeem - One use case of ChainPort, includes:
    1. Burn Wrapped Token on Side-Chain and Release Base-Token on Main-Chain
  11. Wrapped Token - ChainPort’s version of the token that was generated as part of the porting process on another non-Base-Chain blockchain:
    1. For every Wrapped-Token we keep the reference to the Base-Token
  12. Zero-Address - The address token is sent as part of the Burn transaction.

Use cases:

  1. DepositTokens - ERC20 on source blockchain and receive wrapped token 1:1 on one the target blockchain

conflux%20grant%20application%20cp%20diagram
conflux grant application cp diagram.png1117Ă—667 18.7 KB

  1. TokenTransfer - Burn Wrapped-Token on Side-Chain and move to one of the other supported blockchains.
  2. ReleaseTokens - Burn Wrapped-Token on Target-Chain and release the original asset on Source-Chain

FrontEnd logic and BackEnd logic are decoupled

  • Users can use most of ChainPort’s functionality by only on-chain actions.

DEVELOPMENT ROADMAP

  • Support Stablecoin porting
  • Support native Cardano tokens
  • Add more EVM Chains
  • Advanced stats and auto-arbitrage equalization cross-network
  • ChainPort 2.0 - Generalized cross-chain messaging with decentralized security architecture

Conflux%20application%20roadmap
Conflux application roadmap.png1474Ă—649 82.3 KB

MAINTENANCE CONSIDERATIONS

Once Conflux is integrated into the ChainPort ecosystem, ongoing maintenance will be part of the operational budget, and is already worked into the grant request. Per usual. each blockchain required some amount (varying between blockchains) of ongoing management, related to optimizing RPC providers, maintaining nodes, maintaining the monitoring, alerts, backend and security operations related to the bridge functions on the specific blockchain.

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#2

Hi, Thank you for applying for a grant proposal. Below are few questions from us:

  1. What are the security features, monitoring tools, and on-chain mechanisms for security? Can you please briefly mention them?
  2. 95% of funds are locked in MPC and Multi-sig vault as we see in the description. Is there a way to show us in a illustrative format as to how these 95% funds are distributed as of now.
  3. Why is it a special request for opening up cardano ports?
  4. How does the fee-sharing model work? If other existing projects need to use chainport, do they need to go through any process? What is the general fee model for the contracts.
  5. Do you have an audit report for all the smart contracts that you can share? At conflux, we need mandatory audit for all the grant proposals.
  6. What is the current fee structure for the transactions on bridges?
  7. Can you please provide a technical architecture for all the smart contracts and functionalities.

Thank you.

Regards,
Keerthi.

#3

What are the security features, monitoring tools, and on-chain mechanisms for security? Can you please briefly mention them?

wrapped chainport tokens can be frozen/paused in case of emergency, specific accounts can be blacklisted in case those are identified as malicious/hacker accounts, blacklisted funds can be destroyed. The governance of the wrapped tokens can be maintained by the chainport congress dao, or, if the token is enlisted in the custom bridge program, can be governed by a joint congress of chainport and the project representatives/dao and optionally a lawfirm to act as backup in case the project/chainport go missing.

the bridge enables you to freeze specific paths, specific tokens, or the entire bridge. We are expanding the freeze signal monitor to incorporate freeze signals from a variety of sources, including cyber security platforms (e.g. hyperactive, cyvers), and including inhouse monitors (e.g. high frequency dex monitor that alerts if prices on certain dex drop rapidly, e.g. a bridge monitor that tracks if/when minted amounts for any token are greater than deposits). All these freeze signals can enable the bridge to freeze.

we are working to enable more parties to run our in house freeze signal sources (e.g. bridge monitor for minted vs deposited accounting), to further decentralise the security model.

the majority of funds are off the smart contracts and in battle tested vaults e.g. gnosis/fireblocks. In the custom bridge solution, projects can be granted a signatory status on the vaults of their tokens, to further the security of the TVL, optionally adding a lawfirm to act as bailout in case one of the signing parties (chainport/project DAO/congress) go missing.

we have other security mechanisms and layers in place to identify and stop malicious porting requests and access attempts to the bridge.

95% of funds are locked in MPC and Multi-sig vault as we see in the description. Is there a way to show us in a illustrative format as to how these 95% funds are distributed as of now.

they are 70% on gnosis vaults, 30% on fireblocks MPC

Why is it a special request for opening up cardano ports?

there are various costs and logistics involved in creating a verified cardano token, so we need to verify the team creating it before we generate the token and verify it on cardano as an official version of that token.

How does the fee-sharing model work? If other existing projects need to use chainport, do they need to go through any process? What is the general fee model for the contracts.

projects or referrers of projects need to get in touch with our bizdev team and do a small verification routine, then they can provide an evm address which they can use to login on the chainport app and claim their referral or project rewards.

Do you have an audit report for all the smart contracts that you can share? At conflux, we need mandatory audit for all the grant proposals.

Revital Basel Give them the trailofbits redacted, zokyo stables and other audit reports we have

What is the current fee structure for the transactions on bridges?

for porting 0.3% if paying in the ported tokens, 0.2% if paying in staked portx tokens.
for each transaction added base chain token (eth/bnb) minting costs for minting/releasing on target chain

Can you please provide a technical architecture for all the smart contracts:

main bridge contract for deposits/releases of source/original tokens, side bridge contract for burn/minting of chainport wrapped versions of tokens.

1 Like
#4

Thanks for your grant application @Aiden_Skehan. After review the Grants Committee has decided not to proceed any further with your application.