Lukso is a EVM Layer 1 chain designed to provide creators and users with future-proof tools and standards to unleash their creative force in an open interoperable ecosystem. It is founded by Ex Ethereum Foundation member / ERC20 Founder Fabian Vogelsteller. Lukso has launched its mainnet couple of months ago and will be launching its native Account Abstraction Wallet (Universal Profiles) next week.
The LUKSO Standards Proposals (LSPs) represent the main building blocks of the LUKSO ecosystem. People, groups, and organizations can use them to build blockchain-based applications that aim to maximize the user experience, allow more flexibility and interaction, and open doors to innovation. The use of smart contracts and standards like the LSPs can mitigate some centralization risks by allowing for decentralized ownership and control of accounts and assets.
For more information, please see: lukso.network
The Synapse implementation of the Lukso bridge should be bi-directional from the Lukso blockchain to other blockchains and from other blockchains to the Lukso Blockchain.
Lukso to other Blockchain
In order to make Lukso assets available for use on other blockchains the bridge should support:
The transfer of Lukso coins ($LYX) to another blockchain. Lukso coins are transferred from a sending account to an account, where they are locked on the Lukso blockchain. Proofs of the Lukso transfer and lock are generated and verified on the Lukso Blockchain. Data containing the number of coins is then transferred to another blockchain, where the corresponding number of wrapped LYX are minted and sent to the receiving account, to be available for use on that blockchain.
Other Blockchains to Lukso
In order to make other blockchain’s assets available for use on the Lukso blockchain, custom tokens (LSP7, LSP8) will be required for each asset and the bridge should support:
The transfer of assets to the Lukso blockchain. Assets are locked on blockchain then transferred to Lukso blockchain as a custom token (LSP7, 8) representing that asset as a wrapped asset. Proofs of mint and transfer will be generated and verified on the Lukso blockchain and confirmation of these transactions returned to the originating blockchain.
The transfer of wrapped assets to another blockchain. The wrapped assets are burned on the Lukso blockchain by the relevant custom token. Proof of burn is verified on the Lukso blockchain and confirmation of this sent to other blockchain, with the amount and receiving address. A corresponding number of blockchain assets are unlocked/minted to be available for use on that blockchain.
For further documentation on the Lukso blockchain, please visit: https://docs.lukso.tech/standards/introduction