October 29th 2021
Today we're very excited to announce that the MPS tokens, the tokenized shares of Mt Pelerin Group SA, are live on the xDai network!
We have not only issued the MPS on that additional network, but also released a swap mechanism to move tokens between Ethereum and xDai. The MPS becomes this way the very first cross-chain security token!
Our tokenization platform Bridge Protocol was already multi-chain, as it is able to issue and manage tokenized assets on Ethereum, Polygon, BNB Chain and xDai, but this news if the first step to a truly blockchain agnostic platform, with the ability to move assets between networks.
You can now do that directly in Bridge Wallet, which now has a "Switch chain" button on the MPS screen (more info below).
The xDai network is a sidechain of Ethereum, or in other words a child network that remains "attached" to its parent Ethereum through mechanisms allowing assets to be interchangeable between the two. The point of a sidechain is to decongest its parent network, with faster transaction speeds and reduced transaction costs.
In the case of xDai, the network uses a dual-token model with XDAI, a USD-pegged stablecoin that is used to pay for transaction fees (usually a fraction of a cent), and STAKE, the network's governance and staking token.
The release of the MPS token on xDai comes with a bridge that we have adapted from xDai's own TokenBridge, which allows to move MPS tokens between Ethereum and xDai. This function is available in Bridge Wallet's latest version, in which you now have a "Switch chain" button in the MPS screen (on Ethereum and on xDai).
Swapping tokens between networks execute the following operations:
Please note that once a transaction is initiated, you will have to claim the swapped tokens on the other network, where you will see a "Claim" button in the MPS screen. Transferring tokens is irreversible, you will have to claim them on the other network or they will remain locked in the swap contract.
The MPS token bridge has been audited by blockchain security firm Hacken, the audit report is available here:Audit report
A new version of Bridge Wallet is available on Google Play and the App Store, which includes:
Make sure to update your app!