For existing coins and tokens such as USDC, ETH, BNB, MATIC etc. the coin/token is locked up on the outbound chain. If moving to Empire Network, a synthetic version of the token is minted. When moving out of Empire Network, this is burned. Bridging to non Empire Network chains is only possible if the inbound chain has enough locked up tokens on the bridging contract to process the request.
For purpose built multi-chain tokens like EMPIRE, the Empire Bridge utilizes a lock and mint/burn model in order for tokens to be transferred between chains while maintaining a single shared supply. This allows tokens to become multi-chain without requiring inflation of the supply.
Tokens have a "home chain", the original chain the token was launched on. Other chains that the token is bridged to are referred to as "satellite chains". When tokens are bridged from the home chain to a satellite chain, tokens are locked up on a smart contract. On the satellite chain, the amount of inbound tokens are minted. Thus, the circulating supply has been unchanged by the bridging process. When tokens are bridged out of a satellite chain, the tokens are burned. If bridged to the home chain, the amount of bridged tokens are unlocked. If bridged to another satellite chain, the amount of bridged tokens are minted on that satellite chain.
Empire, Ethereum, Binance, Polygon
Empire, Ethereum, Binance
In this initial period after launch of Empire Network, bridges have no fees to incentivize usage. In the future, a price competitive fee will be applied.