TON Bridge
TON Bridge (The Open Network Bridge) is a service for exchanging assets between blockchain networks. It is designed to seamlessly transfer assets between blockchains. Currently, the bridge works with Binance Smart Chain, Ethereum Network and The Open Network, allowing the transfer of almost any token.
Technology & Architecture
TON Bridge utilizes components that provide functionality and security:
Smart Contracts — control the process of blocking assets in one chain and creating equivalent assets in another chain, ensuring transparency of all transactions;
Relayers — trusted intermediaries that confirm and record transactions, ensuring the correctness and integrity of their execution;
Bridge Nodes — interact with relays and smart contracts to ensure reliable and secure data transmission;
Wrapped Tokens — are used to represent assets from one blockchain in another. For example, when Ethereum is transferred to TON network, a wrapper token is created that represents the equivalent value of $ETH on TON network. This process provides liquidity and flexibility for asset management between blockchains.
Working principle
- Asset Locking — when a user wants to transfer assets from one blockchain to another, the smart contract blocks those assets in the original blockchain. For example, if a user wants to transfer $ETH from the Ethereum network to TON network, the corresponding smart contract blocks the specified amount of $ETH.
- Creation of Wrapped Tokens — after blocking assets in the source chain, an equivalent number of wrapper tokens are created in the target chain. For example, after blocking $ETH on the Ethereum network, a corresponding number of wrapper tokens are created on the $TON (Wrapped ETH) network.
- Confirmation and Transfer — relayers confirm the blockchain assets and initiate the process of creating token wrappers. Bridge nodes ensure the correctness and integrity of data transfers between blockchains, ensuring that the process is performed correctly and securely.
- Asset Unlocking — in reverse asset transfer, the wrapper tokens in the target blockchain are destroyed and a corresponding number of assets are unlocked in the source blockchain. This process organizes a two-way transfer of assets, allowing users to move them freely between blockchains.
Fees
When transferring tokens, TON Bridge's fee is fixed at 1 $TON, but a second blockchain fee is required: in Binance Smart Chain fees are paid in BNB, Ethereum fees in ETH.
When transferring $TON coins, the service fee is 5 $TON + 0.25% of the transfer amount, and the second blockchain fee — $ETH or $BNB.