ZYX Network bridges and oracles: they key tools behind cross-chain swaps

ZYX Network literally connects DeFi on different blockchains into a single borderless ecosystem. Assets issued on Ethereum, Binance Smart Chain, Polkadot, Solana and others will be able to flow without any obstacles between liquidity pools, with yield farmers earning rewards on all of them. $15 transaction fees will become a distant memory. The key? A pioneering system of bridges and oracles.

A bridge is an infrastructural interface that connects two blockchains. You may have heard of Binance Bridge, which connects Binance Smart Chain and Ethereum. The bridges on ZYX Network will work roughly the same way, but with additional advantages for users.

It’s impossible to transfer assets between blockchains directly, since each network has its own rules for emission, governance, consensus, etc. What a bridge does is lock an asset in a smart contract and issue a corresponding amount of a ‘mirror asset’ on the target blockchain.

For example, imagine that you have some ZYX coins and you’d like to benefit from the high yield farming rewards on PancakeSwap. You’ll need to convert your ZYX into a BEP-20 asset, and the way you do that is deposit ZYX into the bridge contract, where they are staked, and get some BEP-20 ZYX in exchange. Now you can take your BEP-20 tokens and send them to the pool of your choice on Binance Smart Chain.

Here’s where things get really interesting on ZYX Network. In almost all bridge designs, the tokens you’ve deposited just lie there, waiting to be redeemed. But in ZYX, you’ll earn staking rewards on the coins you lock in the bridge. Thus, in our example, you’ll be earning income from three sources:

1) Staking rewards on the ZYX coins in the bridge contract;

2) A share of the trading fees generated by the PancakeSwap pool where you’ve deposited BEP-20 ZYX;

3) Yield farming rewards on the PancakeSwap LP tokens issued by the pools.

Thanks to the bridge, your DeFi earnings can be tripled! In addition, our bridges are decentralized (unlike most other bridge designs out there), fast, and very cheap to use.

It’s worth saying a few words about oracles, too. Before issuing BEP-20 tokens (or ERC-20, TRC-20, or what have you), the bridge needs to make sure that the resulting value is the same as that of the ZYX you’re depositing, In theory, the market price of BEP-20 ZYX should always be the same as the price of regular ZYX, but in some cases the peg could break down (for example, as a result of a hacker attack), so the bridge has to double-check the price every time. Yet, the bridge smart contract is unable to procure external (off-chain) data on its own.

Oracles solve the problem by supplying data from different blockchains to the bridge. Most other network use third-party oracles, by ZYX Network has its own oracle network, which is an important innovation. Thanks to this, ZYX users can be sure that they will always get their money’s worth when converting assets between blockchains.

ZYX Network’s innovative bridge and oracle infrastructure will finally unite DeFi platforms that ‘live’ on different blockchains into a single huge sea of liquidity. You’ll be able to trade, swap, stake, and farm what you like, wherever you like, without worrying about high gas fees. Would you like to learn more? Then join us in our official Telegram channel!

ZYX NETWORK is a decentralized PoS cryptocurrency with the payment function in a fast-growing ecosystem, provided by the economic motive with own blockchain