Receiving Request
The gateway protocol B (contract) receives an approval message from gateway A and the validator node on the secondary chain verifies the message and initiates the mint contract to create (mint) the wrapped equal amount of the locked asset on the target chain.
Wrapped token can be redeemed to native token on the primary chain through the glitter bridge. The secondary chain smart contract sends a request to unlock locked assets on the primary chain which the oracle protocol certifies the existence of the wrapped asset and the collateralized locked asset. Equal amount of the native asset is unlocked on native chain and the equal of the wrapped asset is burnt and completely removed from circulation.
This is the chain where a minted token will be received by the user or burnt after a bridge transfer action that lock/unlock token on the primary chain has been executed.
Glitter Bridge protocol uses the mint and burn protocol smart contract function to mint wrapped token on destination chain and burn wrapped token when unwrapping the asset. This allows the Glitter bridge to ensure wrapped tokens do not get circulated without the peg of native assets.
Last modified 10mo ago