Croswap utilizes Wormhole technology to enable seamless interoperability between Croswap products and any other EVM network.
Wormhole has established a robust track record of security and reliability. Its credentials include:
- Completion of 16 tier-1 audits conducted by independent firms, with 9 additional audits currently underway.
- Successful execution of two bug bounty programs with a total payout of $5,000,000 for top security findings.
- Presence on 22 chains, excluding Cronos. This is precisely why we have chosen to bring Wormhole to Cronos.
With almost four years of operation and ongoing, extensive reviews, Wormhole has proven to be secure and dependable. Given the quality and cost-effectiveness of Wormhole, it is the optimal choice for our needs. Attempting to reinvent a product as established and secure as Wormhole, which is available as a free and open-source platform, would be unnecessary.
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You can find more information about Wormhole on Wormhole's site.
Unlike traditional wrapping mechanisms that trustlessly lock up and create 'wrapped' receipts for a particular token, we have developed a module on top of the Wormhole infrastructure to facilitate cross-chain transfers of $CROS while maintaining a transparent and consistent total supply. Bridged tokens will be burned on the source network. Following verification of the bridge transaction by our guardians, your tokens will be minted and sent directly to your wallet on the destination network.
NFT Bridge - Coming Soon™
Yes, in the future, we plan to enable bridging for NFTs as well. However, it's a complex process that requires extensive research and development to ensure that it meets our core principles:
- Safety and security from start to finish
- Cost-effectiveness for both us and our users
- Scalability for future expansion
As we work towards achieving these goals, we will continue to invest in researching, developing, testing, and documenting our findings. The $CROS bridge will serve as a crucial component in identifying the necessary infrastructure and capabilities that we will need to enable NFT bridging in the future, as our products evolve over time.