Bridging
Token bridging involves the process of reissuing a Universal token from one chain onto another.
Last updated
Token bridging involves the process of reissuing a Universal token from one chain onto another.
Last updated
Token bridging involves the process of reissuing a Universal token from one chain onto another. This essentially involves the burn function followed by the mint function, avoiding the need to withdraw and re-deposit collateral to the custodian. To bridge Universal tokens, the merchant must call the 'bridge' function in the contract, specifying the amount of tokens to be burned. When this function is called, the specified amount is deducted from the merchant’s Universal token balance on the corresponding chain. After finality, the equivalent amount of Universal tokens is minted onto the desired chain and transferred to the specified wallet address. By bridging the tokens, the merchant effectively exchanges the Universal tokens for an equivalent amount of Universal tokens on another chain, thereby maintaining the total supply of Universal tokens in circulation.
