Allbridge Core is a cross-chain swap platform that facilitates seamless transfers of dollar-pegged tokens (stablecoins) between different blockchains. It operates without the need for wrapping tokens and works by maintaining liquidity pools for the supported tokens on each blockchain. In this article, we will explore how Allbridge Core works in detail.

‍Overview of Allbridge Core

Allbridge Core simplifies the process of cross-chain stablecoin swaps by focusing on the most commonly used tokens. It allows users to send tokens via the Allbridge Core platform, which then exchanges the incoming tokens into their dollar value in the token pool for that specific token. The value is then sent to the destination chain via the underlying messaging protocol. On the destination chain, the bridge contract swaps the dollar value back into the desired tokens from the liquidity pool and sends them to the recipient.

Transaction Lifecycle in Allbridge Core

‍The transaction lifecycle in Allbridge Core involves several steps to ensure a smooth and secure transfer of assets between blockchains. Here is a breakdown of the process:

Step 1: Initiation

Users send assets to the liquidity pool on the source chain.Allbridge Core exchanges the incoming tokens into their dollar value in the token pool for that specific token.

Step 2: Messaging Protocol

‍The dollar value is sent to the destination chain via the selected messaging protocol.Allbridge Core supports multiple messaging protocols, such as Wormhole messaging for transfers between Solana, Ethereum, Polygon, and BNB Chain, Allbridge messaging for cross-chain swaps between Tron and other supported chains, and CCTP messaging for USDC-to-USDC swaps.

Step 3: Swapping Tokens

On the destination chain, the bridge contract receives the dollar value and swaps it back into the desired tokens from the liquidity pool.The tokens are then sent to the recipient's wallet on the destination chain.

Gas Tokens and Additional Features

‍Allbridge Core offers an option to receive additional gas tokens on the destination chain by charging an extra fee in source chain gas. This feature is useful for entering a new chain or topping up a newly created wallet.

Security and Trust Assumptions

‍Allbridge Core employs non-upgradable smart contracts, which contribute to the bridge's security by removing potential attack vectors. The bridge's architecture has undergone multiple audits to ensure its robustness and has an open bounty program for security researchers to identify vulnerabilities. In the event of a security breach, the Allbridge team takes prompt action to fix the issues and compensate affected users.