Coinbox Finance Features

CoinBox Multi-Chain Bridge

Executive Summary

CoinBox Finance aims to develop a platform that allows users to transfer their DDK tokens from the ETH network to Binance Chain and vice versa.

The Bridge feature has made the process of moving coins with various chains easy, safe, and comfortable without relying on middlemen.

This makes it easy for the users to exchange their ERC20 and BEP20 tokens without leaving their wallets. This also allows users to organize their assets to take advantage of volatile prices.

Solution Overview

The project's overall scope comprises developing a tunnels/bridge platform, where the users will be able to swap their tokens from the ETH chain to Binance Chain and vice versa. There will be a wrapped token created for DDK coin on the ETH chain and the Binance Chain. The wrapped token will be able to peg the value of the DDK coin.

This wrapped token can be listed and use in the decentralized exchange and DEFI apps of the ETH chain and the Binance Chain. The swapping will be possible in between the EDDK and BDDK tokens. The user will be able to connect their MetaMask, TrustWallet, and CoinBox Wallet to the platform. The platform provides the functionality to migrate tokens from Binance Smart chain to Ethereum and vice versa.

Users will be able to select the token they want to convert and its amount. Next, users will be able to select the token to which they wish to convert; once the token is selected, users will view the amount of new token they will receive. Once the transfer function is initiated with the miner fees on the particular chain, the tokens will be converted and deposited in the user wallet.

Features

General Requirements

  • A wrapped token will be created for the DDK coin on the ETH chain and the Binance Chain.
  • The wrapped token will peg the value of the DDK coin
  • The token will be listed in the decentralized exchange of the ETH chain and the Binance Chain for pairs of EDDK and BDDK.