Infrastructure

Cross Chain Transfer Protocol & Noble Relaying

Funded

Project link

Funding amount

$120,000

Start date

March 2023

Execution

12 months

Team

Strangelove Ventures

Description

With the upcoming dYdX Chain, the protocol will be dependent on the new Noble chain to support USDC collateral. Strangelove, as the lead developing team of Noble and experienced relayer in Cosmos, will support Noble relaying in testnet and mainnet launch to enable USDC deposits, and build a cross chain relayer ("CCTP"). The CCTP relayer will support relaying between dYdX Chain USDC and Ethereum ERC20 USDC for deposits and withdrawals, allowing users from Ethereum to continue trading on dYdX without having to first bridge their tokens.

Purpose

To maintain the existing user base, and improve the onboarding flow on the new chain, users must be able to seamlessly deposit ERC20 USDC to their dYdX account. By building the CCTP relayer for dYdX, dYdX will be accessible to both Cosmos and Ethereum based traders at no interruption of user experience. We expect this relayer to play a significant role in the launch of dYdX Chain.

Payment structure

$25,000 upfront, $75,000 at completion of CCTP, $20,000 paid monthly at mainnet launch

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Impact & Metrics

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