(DOMANI is an oracle-less Digital Asset Management platform that enables users to create, mint and manage ETF-style tokenized funds. The views expressed in the article below should not be taken as investment advice. Always do your own research.) Bridges are convenient. They allow for assets to be interchanged between blockchains in a seamless manner by creating synthetic derivatives that represent an asset from another blockchain. Wrapped tokens deriving from bridges are common, widely used and accepted within DeFi, so much so that over $32 billion in assets are held by bridges. But, should you trust your assets held in bridges? Should $32 billion in assets be held by third parties? Let’s take a look at some examples where bridged assets were not secured as they should have been.
DOMANI Concept Explainer - Bridge Risk Explainer
DOMANI Concept Explainer - Bridge Risk…
DOMANI Concept Explainer - Bridge Risk Explainer
(DOMANI is an oracle-less Digital Asset Management platform that enables users to create, mint and manage ETF-style tokenized funds. The views expressed in the article below should not be taken as investment advice. Always do your own research.) Bridges are convenient. They allow for assets to be interchanged between blockchains in a seamless manner by creating synthetic derivatives that represent an asset from another blockchain. Wrapped tokens deriving from bridges are common, widely used and accepted within DeFi, so much so that over $32 billion in assets are held by bridges. But, should you trust your assets held in bridges? Should $32 billion in assets be held by third parties? Let’s take a look at some examples where bridged assets were not secured as they should have been.