Difference between revisions of "Allbridge (ABR)"

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[https://app.allbridge.io/bridge?from=SOL&to=POL&asset=ABR Allbridge] is a [[Proof-of-Stake (PoS)|Proof-of-Stake]] [[blockchain]] [[Bridges|bridge]] with [[On Chain|on-chain]] [[Consensus Algorithm|consensus]].


==Basics==
*Based in:
*Started in / Announced on:
*[[Testnet]] release:
*[[Mainnet]] release: [https://messari.io/article/from-burning-bridges-to-allbridges 7-2021]
==History==
* [https://messari.io/article/from-burning-bridges-to-allbridges From] [[Messari]] (7-2-2022):
''"Allbridge is backed by APYSwap [[Foundation]] and initially focused on [[Bridge|bridging]] [[Solana (SOL)|Solana]] with other chains. It was therefore originally called Solbridge."''
==Audits & Exploits==
*[[Bug bounty]] program can be found [insert here].
*[https://messari.io/article/from-burning-bridges-to-allbridges From] [[Messari]] (7-2-2022):
''"In October 2021, the [https://hacken.io/wp-content/uploads/2021/09/Allbridge_08092021SCAudit_Report.pdf audit] performed by blockchain security consultant [[Hacken]] found Allbridge’s code to be well-secured."''
===Bugs/Exploits===
* [https://twitter.com/peckshield/status/1642356701100916736 From] [[Peckshield]] (2-4-2023):
''"The @Allbridge_io hack results in the loss of ~$570K (282,889 [[BUSD]] + 290,868 [[Tether (USDT)|USDT]]). The root cause appears to be the manipulation of pool's swap price. The actor plays dual roles of acting as [[Liquidity Provider (LP)|LP]] and swapper to manipulate the price and then drain the pool funds"''
==Governance==
===Admin Keys===
===DAO===
===Treasury===
==Token==
===Launch===
* [https://messari.io/article/from-burning-bridges-to-allbridges From] [[Messari]] (7-2-2022):
''"Allbridge launched its [[token]] ABR on the Boca Chica and Smartpad launchpads in September 2021."''
===Token Allocation===
* [https://messari.io/article/from-burning-bridges-to-allbridges From] [[Messari]] (7-2-2022):
''"A total of 100,000,000 ABR [[tokens]] were [[distributed]] to the community, APYSwap, team, [[staking]] and [[liquidity pools]], incentive programs, and ecosystem [[Decentralised Autonomous Organisation (DAO)|DAO]]."''
===Utility===
* [https://messari.io/article/from-burning-bridges-to-allbridges From] [[Messari]] (7-2-2022):
''"The Allbridge ecosystem is powered by the ABR and xABR tokens. The tokens are used to pay for [[fees]] and [[Proof-of-Stake (PoS)|staking]] as follows:''
''Users are charged a fixed [[bridge]] fee of 0.3% for every transfer. These fees are paid in the token that is transferred. Projects must pay a monthly subscription to use the bridge. The subscription fee is paid in ABR. Of all the fees generated on the platform, 80% is swapped to ABR and distributed to [[stakers]]. The remainder is distributed to the team.''
''Stakers can lock ABR on all integrated [[blockchains]]. In return, they receive xABR tokens one-for-one, which represent their share in the blockchain staking pool. Stakers [[earn]] rewards from fees and incentivization programs. When rewards are added to the staking pool, the number of ABR in the pool increases, and xABR becomes worth more than ABR. The xABR tokens are [[Burn Mechanisms|burned]] in exchange for ABR when users unstake and thus receive more ABR than they initially locked. This is how stakers can generate yield on Allbridge. In addition to attractive yields, stakers also benefit from dynamic percentage fees. Users that hold xABR on a particular blockchain are charged less for [[transactions]] sent from that network. The bridge fees are reduced exponentially. This means that users can enjoy a large reduction in fees by staking only a small amount. At present, as little as 10 xABR reduces the fee from the fixed rate of 0.3% to 0.2%. The bridge fee depends on the user’s pool share and therefore changes dynamically with [[Total Value Locked (TVL)|TVL]]. The minimum fee is currently set at $0.50. The fee model is designed to incentivize staking and is an important value proposition to users."''
===Other Details===
===Stablecoin===
==Coin Distribution==
==Technology==
*[[Whitepaper]] or docs can be found [insert here].
*Code can be viewed [insert here].
===Implementations===
*[https://messari.io/article/from-burning-bridges-to-allbridges From] [[Messari]] (7-2-2022):
''"Over the last several months, the platform has offered over 132 bridge directions across 12 networks."''
===How it works===
* [https://messari.io/article/from-burning-bridges-to-allbridges From] [[Messari]] (7-2-2022):
''"[[Validators]] play a defining role in Allbridge. Every bridging [[Transaction (Tx)|transaction]] has to be confirmed by a two-thirds majority of validators. In return, they receive their fair share of the fees when a [[transaction]] is signed successfully. To become a [[validator]], one must meet specific technical requirements. These requirements are primarily related to the ability to set up servers and [[nodes]]. In addition, validators must [[stake]] ABR tokens. These [[staked]] funds are [[Slashing|slashed]] in [[case]] a validator behaves maliciously. Unlike most bridging solutions, Allbridge uses an [[on-chain]] validator [[consensus]]."''
===Fees===
===Upgrades===
===Staking===
* [https://app.allbridge.io/bridge?from=SOL&to=POL&asset=ABR Allbridge] is a [[Proof-of-Stake (PoS)|Proof-of-Stake]] [[blockchain]] [[Bridges|bridge]] with [[On Chain|on-chain]] [[Consensus Algorithm|consensus]].
====Validator Stats====
===Liquidity Mining===
===Scaling===
===Interoperability===
===Other Details===
==Oracle Method==
==Privacy Method==
==Compliance==
==Their Other Projects==
==Roadmap==
*Can be found [https://docs.allbridge.io/allbridge-overview/roadmap here].
==Usage==
* [https://messari.io/article/from-burning-bridges-to-allbridges From] [[Messari]] (7-2-2022):
''"A total of $5 billion has been [[bridged]] on the platform to date - a 117% increase from the $2.3 billion bridged in October. In [https://drive.google.com/file/d/1JIK5p2r7BBNuDm-Ci8MSVzrYh6VRh0ho/view December], $231,000 in fees were collected on the platform, and on average, 2,900 transfers were made on Allbridge every day. [[Solana (SOL)|Solana]] is the most active network with a 44% share in fees collected. At the time of writing, close to [https://defillama.com/protocol/allbridge $380 million] in assets are locked in its [[liquidity pools]]."''
===Projects that use or built on it===
==Competition==
==Pros and Cons==
===Pros===
===Cons===
==Team, Funding and Partners==
===Team===
*Full team can be found [here].
===Funding===
===Partners===
==(:==
Knowledge empowers all and will help us get closer to the [[decentralised|decentralized]] world we all want to live in!
Making these free wiki pages is fun but takes a lot of effort and time.
If you have enjoyed reading, tips are appreciated :) This will help us to [[keep]] expanding this archive of information.
[[ETH]] tip [[address]]: 0x83460bE5F218b1520B69D702cE60A1DE37dD8E31
[[Category:Coins/Tokens]]

Latest revision as of 03:47, 3 April 2023

Allbridge is a Proof-of-Stake blockchain bridge with on-chain consensus.

Basics

History

"Allbridge is backed by APYSwap Foundation and initially focused on bridging Solana with other chains. It was therefore originally called Solbridge."

Audits & Exploits

"In October 2021, the audit performed by blockchain security consultant Hacken found Allbridge’s code to be well-secured."

Bugs/Exploits

"The @Allbridge_io hack results in the loss of ~$570K (282,889 BUSD + 290,868 USDT). The root cause appears to be the manipulation of pool's swap price. The actor plays dual roles of acting as LP and swapper to manipulate the price and then drain the pool funds"

Governance

Admin Keys

DAO

Treasury

Token

Launch

"Allbridge launched its token ABR on the Boca Chica and Smartpad launchpads in September 2021."

Token Allocation

"A total of 100,000,000 ABR tokens were distributed to the community, APYSwap, team, staking and liquidity pools, incentive programs, and ecosystem DAO."

Utility

"The Allbridge ecosystem is powered by the ABR and xABR tokens. The tokens are used to pay for fees and staking as follows:

Users are charged a fixed bridge fee of 0.3% for every transfer. These fees are paid in the token that is transferred. Projects must pay a monthly subscription to use the bridge. The subscription fee is paid in ABR. Of all the fees generated on the platform, 80% is swapped to ABR and distributed to stakers. The remainder is distributed to the team.

Stakers can lock ABR on all integrated blockchains. In return, they receive xABR tokens one-for-one, which represent their share in the blockchain staking pool. Stakers earn rewards from fees and incentivization programs. When rewards are added to the staking pool, the number of ABR in the pool increases, and xABR becomes worth more than ABR. The xABR tokens are burned in exchange for ABR when users unstake and thus receive more ABR than they initially locked. This is how stakers can generate yield on Allbridge. In addition to attractive yields, stakers also benefit from dynamic percentage fees. Users that hold xABR on a particular blockchain are charged less for transactions sent from that network. The bridge fees are reduced exponentially. This means that users can enjoy a large reduction in fees by staking only a small amount. At present, as little as 10 xABR reduces the fee from the fixed rate of 0.3% to 0.2%. The bridge fee depends on the user’s pool share and therefore changes dynamically with TVL. The minimum fee is currently set at $0.50. The fee model is designed to incentivize staking and is an important value proposition to users."

Other Details

Stablecoin

Coin Distribution

Technology

  • Whitepaper or docs can be found [insert here].
  • Code can be viewed [insert here].

Implementations

"Over the last several months, the platform has offered over 132 bridge directions across 12 networks."

How it works

"Validators play a defining role in Allbridge. Every bridging transaction has to be confirmed by a two-thirds majority of validators. In return, they receive their fair share of the fees when a transaction is signed successfully. To become a validator, one must meet specific technical requirements. These requirements are primarily related to the ability to set up servers and nodes. In addition, validators must stake ABR tokens. These staked funds are slashed in case a validator behaves maliciously. Unlike most bridging solutions, Allbridge uses an on-chain validator consensus."

Fees

Upgrades

Staking

Validator Stats

Liquidity Mining

Scaling

Interoperability

Other Details

Oracle Method

Privacy Method

Compliance

Their Other Projects

Roadmap

Usage

"A total of $5 billion has been bridged on the platform to date - a 117% increase from the $2.3 billion bridged in October. In December, $231,000 in fees were collected on the platform, and on average, 2,900 transfers were made on Allbridge every day. Solana is the most active network with a 44% share in fees collected. At the time of writing, close to $380 million in assets are locked in its liquidity pools."

Projects that use or built on it

Competition

Pros and Cons

Pros

Cons

Team, Funding and Partners

Team

  • Full team can be found [here].

Funding

Partners

(:

Knowledge empowers all and will help us get closer to the decentralized world we all want to live in!

Making these free wiki pages is fun but takes a lot of effort and time.

If you have enjoyed reading, tips are appreciated :) This will help us to keep expanding this archive of information.

ETH tip address: 0x83460bE5F218b1520B69D702cE60A1DE37dD8E31