zkBridge NEP-11: Integrate Plume Network with Polyhedra zkBridge

Category: Technical Proposal

I. Proposal:

This is a proposal to integrate the following project with zkBridge:

Project Name: Plume Network

Reasons for integration:

1. Plume has recently experienced a significant influx in usage and value, attributable to its rapidly growing RWA and DeFi ecosystem, which can benefit meaningfully from enhanced interoperability.

2. Plume’s robust community would be additive to the Polyhedra community. Plume has 10M unique addresses, 280M+ transactions, 180+ live protocols, and 4B+ assets available. The community boasts 3M+ native crypto users.

3. Plume is liquid, fully onchain 24/7, DeFi ready, global, permissionless, and composable. Plume emphasizes the composability of RWAs, allowing assets to interact seamlessly across different DeFi applications and protocols.

Description: Plume is a public blockchain optimized for the rapid adoption and demand-driven integration of real world assets (RWAs). Plume recognizes that the core driver of the RWA revolution is tangible demand, particularly for yield-bearing assets that offer stability, transparency, and income generation. By leveraging decentralized finance (DeFi) infrastructure and a full-stack, vertically integrated technology, Plume brings RWAs into the digital economy, making them more accessible, liquid, and efficient. Plume enables issuers to tokenize assets like real estate, commodities, and revenue streams, transforming them into digital assets that can be easily traded, financed, or used as collateral. This transformation meets the real needs of both retail and institutional investors. Plume’s mission is to bridge the gap between traditional finance and crypto by aligning with genuine market demand and providing tools for compliance, transparency, and interoperability. This ensures both regulatory alignment and ease of use. Ultimately, Plume aims to unlock new opportunities for global participation in asset ownership and investment, fostering a more inclusive, efficient, and demand-driven financial system.

Project’s Social Media: Website: https://plumenetwork.xyz/ Twitter: https://x.com/plumenetwork Discord: https://discord.com/invite/plume-network Telegram: https://t.me/plumenetwork_community

II. Rationale:

zkBridge provides users with a range of options and greater asset diversity to bridge across various L1s and L2s. By expanding the supported blockchains, it allows more users worldwide to be able to access the functionalities and features of, and participate in the growth and development of the Polyhedra Network.

Candidates for future integrations will be selected by the community. Based on feedback received from ecosystem members, the community will consider multiple criteria, including:

1. Global reach, recognition from major industry players, and community interest
2. Focus on adhering to regulatory standards and ensuring security,
3. Interest in zero-knowledge proofs
4. Potential for enhancing the network functionality, applications, and user interactions to set a new standard for secure, efficient, and user-friendly cross-chain transactions
5. If this would foster greater participation and collaboration within the blockchain ecosystem
6. Enhanced flexibility and efficiency, decentralization and system integrity across these blockchain networks.

III. Abstract:

Polyhedra Network’s zkBridge represents a significant advancement in the blockchain industry, offering a trustless, efficient, and secure interoperability protocol across different Layer-1 and Layer-2 networks. Polyhedra currently supports integration of zkBridge with a number of third party blockchains and ecosystems such as AltLayer, Alchemy Bridge, Arbitrum, and others. Central to the zkBridge security model is the integration of zero-knowledge proofs, which offer robust security that is not dependent on external factors and significantly reduce the complexities and costs associated with on-chain verifications. Other assets could be supported and utilized to grow the utility of the network.

IV. Additional Background:

On April 4, 2023, zkBridge launched on ten layer-1 and layer-2 blockchain networks including Polygon, Ethereum, Binance Smart Chain, and Cosmos. zkBridge is the first trustless, efficient, secure, and universal cross-chain bridge with advanced zero-knowledge proof technology. zkBridge uses zkSNARKs to enable a prover to efficiently convince the receiver chain that a certain state transition happened on the sender chain. zkBridge consists of a block header relay network and an updater contract. zkBridge uses a 2-layer recursive proof system to achieve fast proof generation and low on-chain proof verification cost to support cross-chain applications. As of June 2024, zkBridge has supported more than 30 layer-1 and layer-2 networks, and successfully verified more than 20 million cross-chain transactions.

V. Threshold to Approve:

1. More than 50,000 of total Staking Power (SP) cast as votes, and
2. More Yes votes than No votes.