Ampleforth Launched Multichain Asset Through Meter.io Passport
Ampleforth launched multichain asset through Meter.io Passport. With the Meter Passport (bridge) it is possible to send AMPL cross-chain. For this the Meter blockchain router is used. You can interact with the Bridge using a interface created by the Ampleforth team, but also the Official Meter Passport interface.
“Meter Passport is an N Way blockchain router that allow both assets and information to travel across blockchain networks.” – Meter.io
The AMPL Bridge is a n-way Proof-of-Authority blockchain bridge which allows AMPL to be transferred between any two connected blockchains. This bridge currently supports transfers between Ethereum and BSC and is validated by Meter Passport.
Meter is the only Ethereum chain that is front-running resistant, making it perfect for DEXs. Meter SDK is also the only Ethereum scaling framework for building your own decentralized and high-performance Ethereum side chain with cross-chain support
Meter Passport Architecture
One of Meter’s goals is maximizing interoperability with other public blockchains. Meter Passport is a multi-chain router that enables smart contracts to both transfer assets and communicate across blockchains.
The initial implementation of Meter Passport is an enhanced version of ChainSafe bridge based on multi-sig contract secured by five relayers including Protofire, Harshquark, Wetez, InfinityStones, and Meter team. The upcoming v2 version will be implemented by the Meter team and support an unlimited number of relayers running consensus on the status of the source chains through the HotStuff consensus on Meter and create threshold signature based verifications.A video tutorial on using
Meter Passport can be found here.
The bridge is currently secured by Protofire, Hashquark, InfinityStones, Wetez, and Meter. 3 out of these 5 relayers have to sign off on a transaction to go through. Typical transfer between BSC, Moonriver, and Meter takes around 10 to 20 seconds, while any transfer that involves Ethereum requires 25 block confirmations for the bridge deposit transaction on the Ethereum side (When the UI shows “In transit”) which may take 6 to 10 minutes.
The bridge fee exists to support the gas spending and operations for the team of decentralized relayers. For MoonRiver users, MTRG will be directly airdropped on the MoonRiver network at launch to cover bridge and gas fees on Ethereum. This is a short-term promotional program funded by the Meter Foundation to help the MoonRiver community building the initial DeFi ecosystem. The MTRG tokens can be transferred to Meter Mainnet and traded on VoltSwap. Meter also has a standard bridge fee subsidy program that reimburses up to 85% of the bridge fee in MTRG described in the Bridge Fee Subsidy Program.
ABOUT Ampleforth
The Ampleforth protocol is a series of Ethereum smart contracts that transfers the volatility of demand from price per token to the number of tokens in user wallets by automatically adjusting supply in response to demand. Daily supply adjustments are automatic and non-dilutive.
ABOUT Meter.io
Meter is a DeFi infrastructure with a built-in, crypto-native, metastable currency. It functions as a highly-decentralized, high-performance EVM compatible side chain for Ethereum and other public chains.
IMPORTANT LINKS:
https://wallet.meter.io — Managing your assets on different chains
https://passport.meter.io — Bridging assets across different chains
RESOURCES
AMPLTOOLS
