WAX – EVM – HIVE TOKEN & NFTs BRIDGE

One of the most significant challenges in the blockchain world today is to create valuable communities, while maintaining high user engagement throughout all market phases, especially during bear markets, which statistically prove to be longer than periods of great hype. One of the most effective ways to achieve this goal is to make the blockchain experience as simple and satisfying as possible for users, by eliminating all the obstacles that currently make the experience complex and sometimes frustrating. One of the most limiting factors in this regard is undoubtedly the difficulty users encounter in moving their funds from one ecosystem to another, a process that almost always requires multiple steps or the use of centralized platforms. Our bridge, on the other hand, enables users to securely transfer their tokens (and in the future, even partner project NFTs) from one blockchain to another, creating a high degree of integration between projects and allowing communities from different backgrounds to interact seamlessly. To use the bridge, it’s enough log into the platform with the wallet from which you wish to move the tokens, and send them to the destination address, even if it's on another blockchain. An unexposed backend system detects the executed transaction, and the smart contract proceeds to transfer the wrapped token directly to the user's specified wallet. Moreover, the transfer of tokens to Rebus' Cosmos-Based EVM (Ethereum Virtual Machine) is particularly secure and convenient. The direct partnership with Rebus allows the bridge to access the native smart contracts of wrapped tokens, utilizing the mint and burn functions for tokens at the time of bridging, thus limiting the possibilities of attacks or theft. Additionally, Rebus' EVM is currently integrated with Axelar, an easy and reliable cross-chain node that facilitates connections to other ecosystems such as Binance Smart Chain (BSC) and PancakeSwap.

Thanks to the partnership with witness Discovery-it, we are excited to extend the functionality of the bridge to the Hive blockchain, from which we all originate, and its community. The existing "memo" system in Hive transactions makes this blockchain particularly suitable for integration with the already established infrastructure. The next stage of bridge development also includes the ability to transfer not only tokens but also NFTs (Non-Fungible Tokens). This system, subject to the direct approval of the involved projects, ensures the perfect traceability of each individual NFT, enabling the transfer of NFTs that maintain their unchanged metadata, such as mint numbers, between different blockchains. Furthermore, the activation of the bridge would not be limited to asset transfers between blockchains; it would mark the first step in a crucial process to bring different communities closer and enhance integration. Several successful projects have already expressed their interest in actively engaging with the Hive community, bringing parts of their products into this ecosystem. If the funding is approved by the DHF, our team would be more than happy to waive the outgoing fees from Hive for users of the Hive Blockchain throughout the duration of the funding.

For these reasons, we are requesting funding of 300 HBD per day from the Hive community. We are also committed to delivering a publicly accessible demo version of our bridge to the community before receiving any funding, allowing for effective testing of the system's actual performance.