Orbiter Finance is trending. What does it offer?

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Orbiter Finance is trending. What does it offer?

Orbiter Finance is trending. What does it offer?  

 

Orbiter Finance is a new decentralized cross-rollup bridge. It is a great solution for transferring Ethereum-native assets. Besides, this platform offers low-cost, along with rapid, almost instant transfers. Orbiter will​ support cross-rollup transfers between Ethereum, Polygon, BNB Chain, zkSync, StarkNet, Arbitrum, Loopring, Optimism, Arbitrum Nova, ZKSpace, Boba, Immutable X, dYdX, and Metis.

Unlike other cross-L1 bridges, this company offers a top-notch security system. It also stands out among similar projects with its cheap and instant transfers between the Sender and the Maker’s externally owned address (EOA). However, Senders won’t interact with the contract address. Users don’t need to mint assets on this platform. It will support liquidity in a decentralized way.

The team designed Orbiter Finance as a cross-rollup bridge to make transferring ETH-native assets easier. As mentioned above, the system has only two roles: Sender and Maker. The platform requires the Maker to deposit excess margin to its contract. Only after that will they qualify to become a cross-rollup service provider to the Senders. The system is quite straightforward. The Sender sends assets to the Maker using the Source Network. On the other hand, the Maker will return assets to the Sender on the so-called Destination Network.

According to the company, there will be three types of smart contracts in Orbiter Finance’s security model. The first one is MDC – Maker Deposit Contract. It will keep Maker’s Margin, along with handling the arbitration for Senders. The second one is EBC or Event Binding Contract. It will store Makers’ charging standards and margin rules. The last one is SPV, aka Simple Payment Verification. The latter proves the existence of the transaction on the platform.

Orbiter’s technology will create SPV for every domain the project supports. The team will deploy EBC, MDC, and all the SPVs in the ETH ecosystem.

 

What is Orbiter Finance’s goal? 

The founder team created Orbiter because of the maturity of ETH Layer2 Rollup technology. While Ethereum mainnet is one of the most well-known, there are also other products on the market, such as ZK-Rollup projects (Scroll, zkSync, etc.), Optimism, Arbitrum, StarkNet, Loopring, dYdX, and so on.

Moreover, the company introduced innovative and interesting gameplay with its own native utility token. Orbiter plans to launch its ICO sale soon. Meanwhile, investors can learn more about this project and its aspirations.

According to the plot, humans want to move to other planets to live. It’s just like Interstellar exploration, but unfortunately, the spaceways are not open yet. People don’t have the technology needed to move their supplies quickly and safely between the stars. There are sidechain planets, such as BSC, Matic, and xDai, as well as rollup-based L2 planets.

Furthermore, there are many migrants on these planets. They wanted to travel between the stars, but the high cost of interplanetary travel and moving supplies discouraged them. Thus, the main source – Orbiter, is working hard to build an organization in the multi-chain universe. It will be much like Dune’s SpacingGuild, creating the cheapest and safest route through space to fulfill the needs of an interstellar journey.

The team also created a SpacingGuild, adding it to the Orbiter Project. SpacingGuild will allow the Wormhole creators to find the shortest route and make it usable by building fuel supply stations along the way. The platform allows the Senders to load their supplies at the planet’s Wharf. After that, the Navigators will take them through the Wormhole, delivering them to the destination.

Planet has many names in this project. They are known as environments, sidechains, and L1s. Some of them can support smart contracts, while others can’t.

 

What about Orbiter Finance’s other features?  

The company created the Orbiter Project to offer Defi users exciting opportunities. This project will enable customers to use Defi space easily and securely and enjoy gameplay in the process. The platform provides a series of open-source tools, as well as smart contracts for cross-environmental interoperability requirements.

SpacingGuild is the rule-maker of a cross-environment interoperating system. According to the team, it will be a DAO in the future. Moreover, Wormhole is the feature that allows to development of customized protocols on the interoperating system. That includes a cross-environment transfer of the same coins, non-fungible and other types of tokens, etc.

The company enlists WormholeCreators. The latter are developers who work on customized protocols in the interoperating systems. Together, they will build an amazing world. SupplyStation is actually a smart contract. Built on each environment, these contracts will serve as liquidity pools for Navigator. They will help maintain the liquidity balance by accepting LP deposits.

Wharfs will show the platform’s products to Senders. Among these products are exchange, wallet, and various channels. However, the team might add more tools and features in the future.

Lastly, Navigator is a special server that plays an important role. It escrows Sender’s funds in the Source network and sends the assets to the Destination Networks afterward.

 

How do these features work? 

Navigator provides a Docker. Deployed in the EC2 server, it is always online, responding to the Sender’s requirements via RPC data. Customers can establish a database through RPC data. After that, they will be able to display the operation status of Maker’s addresses in statistical tables. Thanks to this data, Navigator can adjust the strategy if needed.

The company will also deploy in Rinkeby a series of smart contracts developed by Solidity. That will happen during the test stage. The team plans to use the ETH mainnet or a stable Rollup when it moves on to the official phase. Any user will be able to become a Navigator. They will only need to deposit a margin in ReturnCabin and make promises. ReturnCabin will ensure that even if OrbitalModule fails, Sender will still get the margin from the platform.

Orbiter is also developing SPV. This hybrid project will introduce the supporting facilities of ReturnCabin. According to the team, each Orbiter-supported environment will have a corresponding SPV-ProofCreater.js and SPV-Contract.sol. The latter’s deployment environment will be the same as ReturnCabin. However, the company will deploy SPV-ProofCreater.js in Sender Server. Thus, it will be open-source. Besides, SPV has no permission to control. As a result, anyone can use it.

 

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