Сontent:
Chapter One: A Closer Look at Bridge's tokens
Chapter Two: Supported blockchains and tokens
Chapter One: A Closer Look at Bridge's tokens
Making the cryptocurrency transfer to the Waves network through the PepeTeam Bridge, users receive wrapped cryptocurrency in Waves network in return. His native cryptocurrency is locked on the smart contract in the source network. The names of the wrapped cryptocurrencies correspond to the networks from which they were transferred: transferring USDT from Ethereum user receives USDT-ERC20, transferring USDC from BSC user receives USDC-BEP20, transferring WBTC from Ethereum user receives WBTC-ERC20 and so on. Wrapped cryptocurrency deposited from one network cannot be transferred to another one because each wrapped cryptocurrency is fully collateralized by native cryptocurrency locked on the smart contract in the source network.
This approach allows to receive exactly the number of cryptocurrency that are withdrawn while transferring it from the Waves blockchain, minus Bridge fees, of course. But on the other hand, it does not work properly if we talk about tokens circulated in several blockchains such as USDT, USDC. It makes necessary the creation of different wrapped USDT/USDC tokens deposited from different blockchains (USDT-ERC20, USDT-TRC20, USDT-POLY, etc.). It results in limiting cross-chain interactions (restrict transfers to other blockchains) and fragmenting deposited liquidity (requires the creation of several identical investment and trading products for each wrapped USDT/USDC).
To solve these problems, the PepeTeam made a liquidity pool where users can swap their wrapped tokens: add one wrapped USDT/USDC tokens to get the other wrapped tokens instead. This solves the problem of cross-chain interaction, but the problem of liquidity fragmentation remains. To eliminate it, we came up with a tokens proportionally collateralized by pool's tokens - USDT-PPT/USDC-PPT. Making a swap through the pool, the user can choose the token he wants to obtain instead: wrapped USDT/USDC related to a particular network or unifying USDT-PPT/USDC-PPT. By choosing the unifying tokens, he adds wrapped tokens to the pool but doesn't get other wrapped tokens. This is how the pool is replenished. The USDT-PPT/USDC-PPT he gets can be traded, invested in the PepeTeam Staking and WX Network Liquidity Pools, as well as withdrawn/deposited to/from any supported network. And, of course, unifying tokens can be swapped back for the network-related wrapped stablecoins through the pool. The swap result is subject to fluctuations and depends on the balances of tokens in the pool and charged fees. The smaller the tokens in the pool, the more profitable to swap them for the tokens which are more in the pool.
Let's consider a couple of cases for USDT-PPT/USDC-PPT using. Depositing USDT from Polygon you can choose USDT-PPT or USDT-POLY for receiving. Withdrawing USDT-PPT or USDT-ERC20 to Ethereum you receive native USDT in Ethereum. In both examples, under the hood of the USDT-PPT transfers (withdrawal and receiving) is being the swap through the pool. Transferring unifying tokens through the Bridge, you add or take wrapped tokens to or from the pool.
Chapter Two: PepeTeam Bridge’s supported blockchains and tokens (including tokens' collateralization)
Ethereum blockchain: ETH, USDT, USDC, WBTC, WAVES, UNI, MKR, LINK, CRV, CRVUSD
BSC blockchain: BNB, BTCB, USDT, USDC
Polygon blockchain: MATIC, USDT, USDC
Tron blockchain: TRX, USDT, USDC
Waves Enterprise blockchain: WEST
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