Over $2.63 billion has been stolen from bridges to date. In nearly all cases, hackers stole collateral locked in smart contracts that was used to issue wrapped tokens on other networks🥲.
But now, modern cross-chain solutions no longer rely on bridges. Instead, they use HTLC or RFQ👇:
HTLC 🔒— token swap between networks via mutual token locking and a timer, after which funds are returned to both sides if the swap doesn’t complete.
RFQ 📜— cross-chain swap via a market maker at a pre-agreed quote.
STON.fi’s OMNISTON cross-chain system will combine HTLC and RFQ. Thanks to RFQ, swaps will happen at fixed, pre-agreed prices (0% slippage), and HTLC will ensure security by temporarily locking tokens in smart contracts🤔. If either side acts improperly, the assets are returned to the user — since a smart contract acts as a neutral intermediary between the user and the market maker☝️.
The first cross-chain🔄 swap will most likely be between $TON and $TRX blockchains.
