Pirex Ether OFT
In the world of decentralized finance, Pirex Ether OFT introduces a cross-chain bridge for seamless asset movement between different blockchains using the LayerZero OFT standard standard. It provides a common interface to be used across different implementations of bridges to keep liquidity concentrated and improve user experience on-chain.
This standard works by burning tokens on the source chain whenever an omnichain transfer is initiated, sending a message via the protocol and delivering a function call to the destination contract to mint the same number of tokens burned, creating a unified supply across all networks LayerZero supports.
Decentralized Validator Networks (DVNs)
Decentralized Verifier Networks (DVNs) are used in the process of relaying the message from source chain to destination chain. DVNs check the payloadHash
emitted for message integrity, specifying an optional threshold for when a message nonce can be committed as Verified. Each individual DVN checks messages using its own verification schema to determine the integrity of the payloadHash before verifying it in the destination chain's MessageLib.
We are using the default LayerZero DVN to verify the messages and are planning to integrate more services leading with Chainlink's CCIP as supporting DVNs.
You can find more information about the LayerZero architecture here
Contracts
OFT
LayerZero OFT standard used to bridge the native Pirex Ether token to all LayerZero supported chains. This standard is working on a mint/burn basis whenever a bridge function is called. This mechanism allows 1:1 bridging while the user is paying a flat fee for the LayerZero bridge only.
OFTLockbox
The lockbox works as a wrapper of an ERC20. They are only needed on ETH Mainnet in our context. Lockbox mints Pirex Ether OFT tokens at a 1:1 ratio when receiving native Pirex Ether tokens and it unlocks the native Pirex Ether the other way around.