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Venus Protocol Venus Protocol
Venus Announcements-

VIP-317 XVS bridge between Arbitrum one and BNB Chain, Ethereum

and opBNB

Summary

Following the community proposal [VRC] Deploy Venus Protocol on Arbitrum, and the associated snapshot, if passed, this VIP configures the bridge contract between Arbitrum one and the supported networks (BNB Chain, Ethereum, opBNB) using LayerZero (snapshot). After the execution, it will be possible to send XVS from Arbitrum one to any supported network and vice versa.

Description

If passed, this VIP will perform the following actions, following the Chaos labs recommendations:

- Link the bridge contract on Arbitrum one with the bridges on the different supported networks, setting the trustworthiness relationships
- Configuration of limits (they could be updated in the future with a new VIP):
- Maximum bridged XVS in a single transaction: 20,000 USD
- Maximum bridged XVS in 24 hours: 100,000 USD
- Mintable XVS on Arbitrum: 500,000 XVS
- Governance is whitelisted, so it could bridge any amount of XVS to/from Arbitrum one

The bridge contracts use LayerZero, specifically the Omnichain Fungible Token V2 standard:

- BNB chain → Arbitrum one: XVS tokens are locked in BNB Chain bridge contract, and minted on Arbitrum one
- Arbitrum one → BNB chain: XVS tokens are burnt on Arbitrum one, and released on BNB Chain
- Arbitrum one ↔️ opBNB/Ethereum: XVS tokens are burnt on the source network, and minted on the destination network

The Venus UI includes a section to allow the bridge of XVS tokens from a web user interface. A detailed technical guide is provided in the Venus official documentation site, to bridge XVS tokens directly interacting with the contracts.

Security and additional details in VIP description.

🗳 https://app.venus.io/#/governance/proposal/317?chainId=56

#blockchain #cryptocurrency #english #venus
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1 ответов

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