BMT Series (53): The Security of Cross-Chain Bridging and Audit Practices
As the BMT series reaches this point, I want to delve into the security of cross-chain bridging, especially how Bubblemaps ensures user asset protection through audits.
BMT, as a full-chain token, implements cross-chain transfers using LayerZero's OFT standard. This mechanism, simply put, involves burning tokens on the source chain and minting an equivalent amount on the target chain, thus avoiding the risks associated with wrapped assets. It sounds smooth, but security is paramount. The team engaged OtterSec and PeckShield for token audits and also had Code4rena and Zenith review the migration and locking aspects. These audits were not just formalities; the reports detailed potential vulnerabilities, such as weaknesses in message validation, all of which have been addressed.
In practice, the cross-chain bridge supports Solana and BNB chains, with potential expansions in the future. Users transferring BMT need not worry about intermediary attacks, as LayerZero employs a decentralized validator network to ensure message integrity. The V2 version's real-time data also benefits from this, allowing the bubble chart to display cluster patterns across chains, making investigations more comprehensive.
Community feedback is also crucial; some were concerned about bridging delays or fees, prompting the team to optimize the Stargate integration to reduce costs. In the long run, such security practices not only safeguard BMT but also enhance the overall trust in InfoFi. After all, in Web3, security audits are the baseline; without them, all innovations are in vain.
Through these efforts, Bubblemaps has demonstrated that it is not solely focused on functionality but also values reliability. If you are considering holding BMT across chains, it might be worth looking at these audit reports for peace of mind.
