Snowbridge

Snowbridge

A general purpose, trustless and decentralized bridge between Polkadot and Ethereum.

Introduction

Snowbridge is a decentralized, trustless and general purpose bridge between Polkadot and Ethereum built by Snowfork.

About Snowfork

Snowbridge is built by Snowfork, a research, development and staffing agency that sprouted from a collection of elite developers, designers and product managers with years of experience collaborating on projects together.
Snowfork build strong teams from global talent to help businesses accelerate reaching their core goals. They work across a wide range of technologies and stacks - full stack distributed systems development is our bread and butter, while R&D with impact technologies like artificial intelligence and new interactive media keep them at the forefront of technological progress.
Snowbridge is one of Snowfork core projects.

Key Features and Highlights

Snowbridge comes with 3 built-in applications. These are all effectively cross-chain dApps. They are intended to provide functionality that Snowfork expects is needed across the Polkadot ecosystem and across multiple parachains.

For now, Snowbridge only have apps for turning ETH, ERC20 tokens and DOT into cross-chain pegged assets that can live on either Polkadot or Ethereum:

SnowETH: SnowETH is a cross-chain dApp that facilitates the creation and movement of a pegged Ether asset on Polkadot. It allows users to lock up ETH in the SnowETH application smart contract on Ethereum, and then have that minted as SnowETH via the SnowETH pallet on Snowbridge’s parachain. SnowETH can be moved to other parachains and used in their products and applications, or can be burned by users on Snowbridge’s parachain to return their value to Ethereum and unlock their Ether out of the SnowETH smart contract.

SnowERC20: SnowERC20 is a cross-chain dApp that facilitates the creation and movement of pegged ERC20 assets in the same way as SnowERC20.

SnowDOT: SnowDOT is a cross-chain dApp that facilitates the creation and movement of a pegged DOT asset on Ethereum. It allows users to lock up DOT in the SnowDOT application pallet on Snowbridge’s parachain, and then have that minted as an ERC20 token called SnowDOT on Ethereum. SnowDOT, being an ERC20, can be used on any other Ethereum application that supports ERC20s, or can be burned by users on the SnowDOT smart contract to return their value to Polkadot and unlock their DOT out of the Snowbridge’s chain. 

SnowDOT is still in the design phase, and more details will be added later. Snowfork is also looking into ways for SnowDOT to still be exposed to yield via staking rewards even while locked in the Snowbridge parachain. Snowfork is also in talks with various Ethereum DeFi/Stablecoin projects in regards to incorporating SnowDOT into their products. 



Token Allocation

Token Circulation

Total supply
?
Cir. supply
?