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Crypto Pilgrim
By Crypto Pilgrim
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PepeTeam Bridge

Table of contents: - Intro - Transfer cryptocurrency through the PepeTeam bridge - For developers Intro Being an ardent supporter of the Satoshi Nakamoto's ideas, PepeTeam tries to decentralize everything around itself. If some part of our product is centralized, then noone will be able to decentralize it at all. It is difficult to come up with a more centralized process than buying crypto via bank card. But even there the PepeTeam team found something to decentralize. Any user can buy/sell cryptocurrency without registering on our site. Moreover, you don’t even have to use the site, buying/selling is available through our Telegram bot. The same applies to our other products: sWAVES staking, PepeTeam staking and cross-chain bridges. Our bridges are a combine of smart contracts and decentralized backend services that allow users to transfer cryptocurrency from one blockchain to another… Yes, you are right, there are a lot of such services. However, a key difference between our bridges and another ones is that users themselves can take on the main roles in them and get a reward for this! Let's a closer look on the bridges. Image that you transfer ETH from Ethereum to Waves blockchain…First of all, you invoke PepeTeam SC in Ethereum blockchain via MetaMask, then you have to say "yabba dabba" three times and…kaboom!..you received your ETH in the Waves blockchain. That’s all! Okay, Okay! Actually this process is not as simple as I presented. Of course, there are a lot of sub-processes between depositing cryptocurrency in Ethereum and receiving wrapped tokens in the Waves network. Some of this work is made by backend services such as Witness-proxy, Witness, Signer and Relayer. Now we have come to the most interesting part. Each of these services’ code will be publish on GitHub over time and any user will be able to launch its own Witness-proxy or/and Relayer, decentralize the bridge and rake in the money. The duties of Signers and Witnesses are much more complex and responsible. In this regard, PepeTeam will offer these functions to major players of the cryptocurrency market (reliable exchanges and DeFi platforms). If you understood nothing😬 maybe this video guide will help you. And by the way, our bridges have been audited, and all wrapped tokens are fully collateralized (for example)! So you can be confident in our bridges and don't worry about your funds. At the moment you can transfer ETH, USDT, USDC, WBTC, BNB, BTCB, CRV, MATIC, TRX etc. (full list of supported cryptocurrencies) via PepeTeam bridge from Ethereum, BSC, Tron and Polygon to Waves network and vice versa. In the most near future, we will add Ton, Arbitrum, Avalanche, Bitcoin, Monero and many other networks to the Bridge so that you can transfer cryptocurrencies without any restrictions. It’s time to transfer some funds, innit? Transfer cryptocurrency through the PepeTeam bridge Note: Centralized exchanges (CEXs) may not accept cryptocurrencies transferred through the calling of smart contract. Until the withdraw cryptocurrency from Waves network through the PepeTeam Bridge, please clarify this question via Recipient support team. Interaction with PepeTeam bridge is possible only via MetaMask, TronLink and Keeper Wallet extentions at the moment. But we are going to extend list of supported application. Therefore, first you need to install the MetaMask extension and Keeper Wallet or TronLink in your browser, create an account there and top up them with ETH, BNB, MATIC, TRX and ERC20/BEP20/TRC20 tokens you want to transfer via PepeTeam bridge. Oooh, I almost forgot! You will also need ETH, BNB, MATIC, TRX and WAVES to pay a network fees for the PepeTeam SC calling. Done? Let's go ahead! - Then you need to follow this link, specify cryptocurrency and withdrawal network (Ethereum, BSC, Polygon, Tron or Waves). A target network will be specified automatically. In the next step, enter one million tokens or whatever you want into the "you send" field. Then, enter a destination address into the "wallet address" field. Upon filling out the entire form, click on the "CONNECT WALLET" button and allow PepeTeam to connect to your MetaMask/TronLink/Keeper account. Note: once you click "CONNECT WALLET" button the history of your transfers will become available on the "HISTORY" tab. Now, the case of small - check "bridge fee" out, click on the "TRANSFER" button, allow PepeTeam's contract write off specified amount (if you transfer ERC20/BEP20/TRC20 token to the Waves net) and meet your cryptocurrency on the Waves/Ethereum/BSC/Polygon/Tron side. Note: Making a transfer through the PepeTeam Bridge, you can send/receive wrapped stablecoins of particular network (e.g. USDT-ERC20, USDC-BEP20 etc.) as well as combined stablecoins (USDT-PPT, USDC-PPT). Combined stablecoins are tokens used in investment products such as WX Network's pools, PepeTeam Staking. For developers As we mentioned above, any user can launch its own Relayer or Witness-proxy. And some users already did that! Just learn code of the PepeTeam bridge on PepeTeam GitHub repo. We plan to publish our own source code of Relayer and Witness-proxy in the future so that any developer will become a part of PepeTeam family as faster as possible. And, of course, we will publish code of Signer and Withess but their hard work we share with major players of cryptocurrency market (reliable exchanges and DeFi platforms). BTW, you can provide your customers the ability to use PepeTeam bridge via your service directly. For that, install the Bridge module via NPM repo and launch the Bridge widget through iframe on your site. Do some questions remain after reading this awesome rich article? - If so, try to ask them to our support.

Last updated on Apr 11, 2024

PepeTeam 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. Do some questions remain after reading this awesome rich article? - If so, try to ask them to our support.

Last updated on Apr 04, 2024