Henez Finance Documentation
  • Overview
    • Background
      • Cross-chain Bridge problems
      • Fragment Liquidity problems
    • Introduction
    • Roadmap
  • Protocol Concepts
    • Architecture
      • Minting Mechanism
      • Peg Mechanism
      • Liquidations
    • Crosschain Swap
    • Omnichain Yield Factory
  • Users Guide
    • Minting
    • Withdraw/Repay
    • Redeem
    • Liquidation
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  1. Protocol Concepts

Crosschain Swap

The main liquidity pool will be deployed on the Hub Chain - Base. To faciliate a seamless UX, Henez will implement a crosschain swap function using 2 core technologies:

  1. Henez zUSD is based on the Wormhole Native Token Transfers (NTT) which allows token to be composable across all 30+ Wormhole supported EVM and non-EVM networks. NTT enables the asset to mint & burn from network to network with no fee, long wait times, or slippage, and most importantly do not require liquidity pools housed on each network.

When an NTT is teleported, the token contract sends a message to the Wormhole endpoint on the source network to burn itself, and then to the destination network's Wormhole endpoint to mint. Like any message sent in the Wormhole network, LayerZero's design guarantees validity of the message - the Guardians and Relayer employed ensure valid delivery.

  1. Cross-Chain Transfer Protocol (CCTP) is a permissionless on-chain utility that facilitates USDC transfers securely between blockchains networks via native burning and minting. Circle created it to improve capital efficiency and minimize trust requirements when using USDC across blockchain networks. CCTP enables developers to build multi-chain applications that provide secure, 1:1 transfers of USDC across blockchains for their users.

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Last updated 11 months ago