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This service is still under ongoing development.
Bridge System Architecture
The bridge consists of 4 main parts:
- Telos Native Bridge Contract - Keeps record of transfers and bridgable tokens.
- Reporters - Facilitates secure communication between the two networks.
- Teleport Token Factory - Creates new Teleport Token Contracts
- Teleport Token - Is the modified ERC-20 Token Contract that allows claiming from Telos and bridging back to Telos.
The bridge works by transferring your listed token to the tport.start contract and specifying the network and address you're transferring to. The reporters will validate the transfer after 3 reporters have successfully reported. Once validated, the sent tokens will be claimable on the respective Token Contract. After claiming, the tokens are minted and sent to the address you specified originally.
To send tokens back to telos, the teleport action is called on the Teleport Token Contract with the amount and telos account. The reporters will validate. Once validated the tokens will be transferred from the tport.start contract back to you.
As it stands, there are no fees for users to bridge tokens other than gas costs. For project owners, the EVM token creation fee needs to be paid.
A small fee is likely to be introduced in the near future to cover the costs of running the bridge.