Sirlibz
StaFi protocol has announced a cross-chain beta product built on the Ethereum blockchain dubbed rBridge. The development of rBridge will enable FIS tokens to be traded on UniSwap, it will help with the cross-chain inter-operation between assets on the StaFi Mainnet and other ecosystems which includes Polkadot, Ethereum and Cosmos. Future developments will ensure that FIS tokens and rToken assets issued by StaFi can freely circulate across different public chains at a low cost, the announcement stated.
The product will allow holders of FIS tokens to exchange ERC 20 FIS tokens through it. Users can do this by simply filling the amount of FIS tokens they wish to exchange and the Ethereum wallet for payment, rBridge then automatically calculates the network change of the ETH Network and calculates the amount of tokens to be paid, users make confirmation and the users request are monitored by the rBridge contract deployed on the Ethereum network, users gets FIS tokens in ERC-20 in less than a minute.
Network fees are not paid by the users in ETH, users get to pay FIS tokens through the StaFi wallets, the StaFi protocol settles this payment on their behalf.
The announcement states that Certik, a well known smart contract audit company and has even deployed a tool known as QuickScan for faster auditing will be one of those who would audit the smart contract of rBridge.
The platform has also set up a Bug Bounty program for the public to help conduct a one week public test before it is officially launched from beta. The test will focus on : Function Test, Code Test, and Criteria, all of which are explained in detail in the announcement.
The reward will be $1000 – $2000 in FIS tokens for anyone that identifies critical issues, $200 – $1000 for moderate and $50 – $200 for low cases.
