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Symbiosis DAOSymbiosis DAOby0x659104835e56A71B43b219c5DeBDdF88F71166A30x6591…66A3

[SIP-27] Symbiosis: Enabling Cross-chain Operations on ZetaChain via pufETH Token

Voting ended over 1 year agoSucceeded

Context

In the modern blockchain landscape, numerous networks exist and new ones are continuously emerging. A primary challenge is the isolation of these networks, as each operates independently without native communication capabilities. To enable inter-blockchain communication, complex constructs like bridges and interoperability protocols are used, which can be both insecure and difficult for developers and users to manage.

ZetaChain aims to address this problem of isolation by providing a unified solution. ZetaChain is a Level 1 Proof of Stake (PoS) blockchain built on the Cosmos SDK, utilizing the Tendermint PBFT (Practical Byzantine Fault Tolerance) consensus engine. This setup allows ZetaChain to process transactions efficiently, with the capacity to handle over 4000 transactions per second (TPS) under ideal conditions.

ZetaChain also features an Ethereum Virtual Machine (EVM) compatible execution layer called Universal EVM or zEVM. zEVM supports standard EVM features and offers unique capabilities, such as enabling contracts on zEVM to be called from external blockchains and initiating transactions on external blockchains.

Proposal

Enable support for ZetaChain in the Symbiosis protocol to enhance Symbiosis DeFi offerings and facilitate the integration of ZetaChain, taking a step towards uniting blockchain networks. The integration includes the following:

  • Create pufETH token representation on ZetaChain in return for original assets locked on the Ethereum chain. Use pufETH and its wrapped representations for cross-chain operations on ZetaChain, Ethereum, zkLink, and Manta.
  • Incorporate support for ZetaChain within the Symbiosis protocol. This entails deploying a new Octopool on Symbiosis host chain and adding pufETH representations for ZetaChain, Ethereum, zkLink, and Manta to this pool. Concurrently, the Symbiosis relayer network will start interfacing with the newly integrated blockchain.
  • Deploy and tune Symbiosis contracts on ZetaChain.
  • Implement routing via Izumi DEX aggregator on ZetaChain.
  • Implement pufETH routing via DEX aggregators on Ethereum, zkLink, and Manta.

Key points

  • ZetaChain aims to make it easier for developers to build cross-chain applications and for users to interact seamlessly across different blockchain networks.
  • Symbiosis is the first bridge to connect ZetaChain and other chains.
  • As an EVM-compatible chain, ZetaChain can be seamlessly integrated into the Symbiosis protocol, ensuring a smooth transition and immediate benefits.

Off-Chain Vote

Yes
36.11K veSIS76.9%
No
10.87K veSIS23.1%
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Timeline

Jun 03, 2024Proposal created
Jun 03, 2024Proposal vote started
Jun 05, 2024Proposal vote ended
Jun 05, 2024Proposal updated