Optimism: Law of Chains | $BALD on Base Up +40,000% | Hyperlane NFT Warp Route & More!
Last Week In The Multi-Chain Ecosystem (24 - 30 July '23)
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Bridge Updates
1) Alchemix Adopts xERC20 Token Standard 🤝
Alchemix has become the 1st adopter of the xERC20 token standard via Connext.
xERC20 is a bridge-agnostic, cross-chain token standard that enables token issuers to manage bridges, set minting limits, and let selected bridges mint identical tokens. Read more.
2) Hyperlane NFT Warp Route Support 🔥
Hyperlane introduces NFT Warp Route Support, enabling users to transfer their NFTs between any chains. Developers can now bring NFTs interchain with a single deployment command and a quick token config in the Warp UI.
3) Wormhole Connect's v0.0.7 is Out 👏
Wormhole launched Connect's v0.0.7 release with the integration of Aptos, allowing any Aptos dev to seamlessly add bridging directly into their dApp.
4) Succinct OP RFP: Remote Static Call Proof of Concept 💪
Succinct announced that they’ll be contributing to the OP Stack as their submission to build Optimism’s Remote Static Call Proof of Concept RFP was accepted. If integrated, this would allow for any L2 contract to query the L1 state using a precompile.
5) Mobula, Vybe & Isoplink Integrate LI.FI 🦎
LI.FI announced several integrations in the past week, including:
Mobula, a transparent, community-enriched coin & portfolio tracking app, has integrated LI.FI to enable its users to swap over 1.3M crypto assets from 15+ chains.
Vybe, a super app that makes using crypto simple and secure, has integrated LI.FI’s SDK
Isoplink, the world's first job platform leveraging blockchain and AI, has integrated LI.FI’s Widget.
Multi-Chain Ecosystem Updates
1) Optimism: Introducing the Law of Chains 🔴
The Optimism Collective announced the Law of Chains: an open neutrality framework for participants in the Superchain ecosystem.
The Law of Chains is the next step toward the Superchain Future, where a unified collective of chains uphold a shared commitment to open, decentralized blockspace and will act as the guiding principle for Optimism Governance and the Superchain.
2) Arbitrum Odyssey 2.0 💪
The Arbitrum community is set to relaunch the Arbitrum Odyssey, a quest-based campaign that saw participation from several Arbitrum ecosystem projects last year but had to be paused due to network constraints at the time.
The upcoming Arbitrum Odyssey 2.0 will feature projects like SpartaDEX, GMX, Dopex, Alchemix, FactorDAO, and PlutusDAO. Participants can earn rewards by completing various quests.
3) Avalanche Foundation Launches Avalanche Vista 🔺
The Avalanche Foundation introduced Avalanche Vista, a $50M initiative to pioneer tokenization on Avalanche. Avalanche Vista will purchase tokenized assets minted on the Avalanche blockchain, including equity, credit, real estate, commodities, and those that are blockchain-native.
4) Avail Launches OpEVM 👷
Avail, a modular blockchain with a data availability layer, launched the Optimistic Ethereum Virtual Machine (OpEVM) SDK that provides devs with a framework to build sovereign, EVM-compatible optimistic rollups.
5) $BALD Memecoin on Base Chain Up +40,000% 🤑
$BALD, a newly launched memecoin on Coinbase’s Base blockchain, skyrocketed to a $50 million market cap, marking an astonishing 40,000% surge in just 48 hours.
Interestingly, $BALD pumped even though the Base chain is currently only “open for developers” and supports a one-way bridge from Ethereum via a designated contract address.
What’s Popping?
Today’s “What’s Popping?” features a comparative analysis of stateless and stateful bridging solutions, brought to you by the team behind Router Chain, a layer 1 interoperability hub that leverages tendermint's consensus engine.
Keep in mind that the opinions expressed in this post are strictly their own and don't necessarily reflect the views of LI.FI.
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Stateful Vs Stateless Bridging: Approaches to Achieving Blockchain Interoperability
In the context of blockchain interoperability, both stateful and stateless bridging methods provide distinct benefits. Grasping the nuanced differences between the approaches is crucial for developers and users.
In this piece, we'll explain these methods, highlight their differences, and discuss our perspective on why we foresee a shift from stateless to stateful interoperability solutions in the future.
Let’s dive in!
Understanding Stateless Bridging
As the name suggests, stateless transactions are about relaying information, a feature that typifies many existing bridging solutions in the ecosystem. Stateless bridges function akin to a simple courier — receiving a transaction on one chain and executing it on the destination chain, all without involving storage or computing.
A typical example could be a user sending a simple message like "hi" from Polygon to Fantom or exchanging an asset like USDC for wBTC between different chains.
To better understand stateless bridging, think of it as a "dumb" bridge that simply relays the information from source to destination without any context of its own, relying heavily on smart contracts across various chains.
While this ‘dumb’ bridging layer ensures seamless interaction and efficient routing between chains, it falls short of letting applications tap into the full potential of interoperability.
This is where stateful bridging comes into the picture.
Understanding Stateful Bridging
Stateful bridging serves as a bridge with a "brain," capable of remembering past data and performing computations on the fly. Unlike stateless bridging, which merely relays information, stateful bridging behaves as an intelligent being, making it the next phase of bridging.
In stateful bridging, smart contracts exemplify stateful entities, allowing users to execute computations on the blockchain using stored data as variables. This aspect gives stateful bridging a crucial advantage over stateless bridging in terms of custom logic and adaptability for complex cross-chain applications.
Stateful bridging opens up possibilities for developing applications like an ENS equivalent in an interoperable world, as it allows for custom computations and logic that are not as practical in a stateless bridging environment.
Key Characteristics of Stateful and Stateless Bridging
To better understand the two approaches, let's delve into their key characteristics:
Stateful Bridging:
Supports storage and computation within the bridging infrastructure.
Allows for custom bridging logic and case-based routing.
Offers flexibility and adaptability for complex cross-chain applications.
Requires a more involved infrastructure setup to handle computations.
Stateless Bridging:
Does not support storage or computation within the bridging infrastructure.
Routes cross-chain transactions without custom logic or case-based routing.
Requires careful design of smart contracts to handle all scenarios.
Generally simpler in terms of infrastructure but may lead to code redundancy.
Choosing the Right Approach
Blockchain interoperability is crucial for maximizing the potential of decentralized systems. Stateful and stateless bridging offer distinct solutions for cross-chain communication: stateful bridging provides flexibility and customizability, while stateless bridging emphasizes simplicity and efficiency.
In choosing between the two, developers must align with their application's demands. For instance, For straightforward transactions like cross-chain NFT transfers and token minting, a stateless bridging solution like Router Protocol’s CrossTalk framework is more apt.
Conversely, for intricate use cases such as cross-chain swapping engines or batched NFT minting that require advanced computations, a stateful bridging solution like Router Protocol's OmniChain framework is considered a better option.
As you dive into the possibilities of stateful and stateless bridging, don't miss the recent launch of Phase 1 for Router Chain's Gamified Testnet Mandara & create a little ‘YOU’.
Interesting Reads
Here’s a list of cross-chain infra related talks and panels from the Modular Summit that you must check out:
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