Cross-Chain Transfer

The Cross-Chain Transfer feature in Carrot Swap is designed to facilitate liquidity provision to the Neo X chain. By enabling seamless asset transfers across various blockchain networks, this feature helps maximize asset utilization and liquidity within the Neo X chain ecosystem.

The Cross-Chain Transfer utilizes a multi-relayer consensus mechanism based on a fork of ZetaChain technology. Each relayer independently validates transactions and reaches consensus with other relayers before transmitting messages. Transactions are processed only when the majority of relayers confirm their validity, ensuring high levels of security and trust within the network. This consensus mechanism guarantees data integrity and transaction reliability in a decentralized environment and includes automated adjustments to maintain network efficiency and stability.

xBNB and xMATIC tokens(xAssets) are collateralized 1:1 with actual BNB and MATIC assets. These collateral assets are securely stored in dedicated smart contracts solely to back the value of xAssets, ensuring that users can transfer xAssets at any time. This structure enhances the transparency and trustworthiness of the assets. The collateral is not used for any other purposes and is exclusively reserved to support xAssets.

In the future, Carrot Swap plans to introduce additional assets beyond xBNB and xMATIC. This expansion will provide users with a broader range of asset options and further enhance liquidity across multiple blockchain networks.