Akamon Bridges

Bridging infrastructure for the MELD ecosystem to move liquidity between chains.

In this page we will cover the main flows and elements needed for integrating the bridging systems with yield mechanisms, so that the generated yield can then be distributed in the Lending and borrowing yield boost.

The Akamon bridge allows for tokens to be bridged from their original networks into the MELD network and then back to the original network. The value propositions that will drive the bridge are:

• Liquidity re-staking

• Speed

The bridge is limited in scope to act as a 1-1 network bridge, where assets an asset can only be bridged from one specific network.

This means that tokens like USDC will only be able to come from a single network. This is to facilitate liquidity management across networks for the initial versions of the bridge, ensuring that on all bridging back actions, there will always be liquidity on the original network

The architecture of the bridge is the same for all networks. The bridge has an architecture LOCK - MINT, where assets in the original network will be kept under custody of MELD, and re-staked to generate yield. The user will receive a newly minted token when bridging.

The same contract could be used for multiple tokens in the same network, like ETH and USDC on the Ethereum network. In the special case of ETH/wETH, we will automatically adapt the flow behind the scenes so that both work together. On bridging back, only the native coin will be sent to the user (ETH) to ensure that they can pay for fees in the network.

To bridge back, the tokens will be burned, and the original tokens withdrawn from staking and sent to the user.

For a more technical in depth description of bridging and the yield boost mechanism please see bridging - yield boost in the developer docs.

Cardano

The Cardano part of the bridge will automatically do native staking of the ADA stored on the lock contract. This rewards will be claimed every epoch and sent to a treasury address.

EVM

For EVM networks, where native liquid staking is not common, we use a set of smart contracts and tools

The following architecture applies to each individual network.

There is a main entry smart contract where users and admins connect for bridging-related actions and configurations

• Start bridge from X to MELD

• complete bridge from MELD to X

• Configure yielding systems