Summary
TLDR: We propose that Synapse deploy a bridge onto the Findora blockchain. After this initial deployment, we will propose a more advanced deployment utilizing Findora’s confidential transfer features could enable Synapse to offer private cross-chain bridge transfers.
A) Overview
This proposal aims to have Synapse bridge integrate support for the Findora blockchain, a layer one blockchain focused on programmable privacy built with Tendermint consensus and EVM compatibility.
A unique feature that a Findora integration can offer bridges, like Synapse, is the ability to become a key infrastructure component to enable private bridge transactions. Essentially, Findora can “anonymize” the bridge transfer when a Synapse user initiates a cross-chain bridge transfer between 2 EVM-compatible blockchains by routing the transaction through the Findora UTXO blockchain.
B) Token Reward Incentives
To grow the adoption and use of SYN and nUSD tokens on more blockchains (like Findora), the following contributions from Findora Foundation and Synapse is proposed:
- Findora Foundation shall contribute a total of 4,000,000
FRA tokens (~$13,000 worth as of 10/14/22 FRA price of $0.003268)
- Synapse shall contribute a total of 13,303
SYN tokens (~$13,000 worth as of 10/14/22 SYN price of $0.9772)
After 90 days, the Findora Foundation will evaluate the price of FRA and use the current price at the end of 90 days to determine the # of tokens to contribute every week, for the next 90 days.
The two tokens listed above will be used to provide incentives to liquidity providers on a Findora DEX (i.e. fairyswap.finance) with the goal or reaching $1m TVL for the DEX pools listed below:
- The proposed reward pool of FRA and SYN tokens will be distributed at a rate of $1,000 worth of
SYN per week and $1,000 worth of FRA per week, for 13 weeks
- The FRA and SYN contributions will be given out as rewards for liquidity providers of
nUSD-based liquidity pools (such as (nUSD/ USDT), (nUSD/ USDC), etc.) on a Findora DEX
Findora has the unique advantage of supporting confidential transfers — making it a natural fit to help grow stablecoin usage, like nUSD, as many users wish to make stablecoin payments to vendors and employees privately or send stablecoin remittances to friends and family privately.
C) About Findora
Findora has made significant progress over the past 18 months (launched mainnet layer one PoS blockchain, launched SDKs to enable confidential transfers, supporting applications and infrastructure such as desktop and mobile wallet, validators statistics tracker, and a DEX).
To date, Findora has processed over 600k transactions across 130k+ wallets and is a leader in the blockchain privacy space as a leader in the private blockchain transfers space.
Dual blockchain Structure (Findora UTXO + Findora EVM)
Findora is composed of two blockchains (Findora EVM and Findora UTXO) tied to a Tendermint consensus.
i.e. (Findora Blockchain) = (Findora UTXO blockchain) + (Findora EVM blockchain) + (Tendermint Consensus)
The Findora UTXO blockchain houses private transfer features (i.e. can call Zei cryptography library). The Findora EVM blockchain can route transactions through the UTXO blockchain to gain privacy features.
Note: Findora EVM is 100% compatible with the existing Ethereum solidity smart contract code
PRISM Transfer
PRISM transfer allows applications to move FRA (or any token) between Findora EVM and Findora UTXO. The PRISM transfer is essentially an internal bridge between Findora EVM and Findora UTXO
Findora UTXO - SDK and API Reference
Findora EVM - API Reference
Developers can reuse any existing EVM tool or smart contract on Findora EVM
D) Proposed Integration Plan
EVM Integration
Findora EVM is 100% compatible with Ethereum Solidity smart contracts and thus, any standardized EVM token formats (ERC-20, ERC-721, etc.). Simply deploy Synapse’s EVM-based smart onto Findora EVM using any EVM tool you’re familiar with (Remix, Truffle, Hardhat, etc.) configured with Findora network settings. Then, configure existing Synapse smart contracts to support Findora EVM.
Findora EVM (aka Smart Chain) Network Settings (RPC, Chain ID, etc.)
Findora EVM Deployment Guides
