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In the Web3 space, the need for a fast, secure, and composable bridging solution has become increasingly important. However, bridging cross-chain has been risky due to vulnerabilities and inefficiencies of existing bridging solutions. Altitude is a composable native asset bridge built on LayerZero that addresses these concerns.
LayerZero is a cross-chain communication infrastructure designed to ease the constraints of omnichain activity. Altitude is one of the first dApps built on LayerZero. As such, it has positioned itself as a frontrunner, taking advantage of new technology for Web3 users by setting the standard of secure bridging for all DeFi users.
Altitude's cross-chain bridge provides a guarantee that funds on the source chain are committed when a transaction is successfully processed on the destination chain. This is different from Instant Guaranteed finality which guarantees the funds on the destination chain once the transaction is successfully committed on the source chain.
Altitude enhances security through the use of Chain Paths, which are connections for a single asset between two different blockchains. These Chain Paths establish a reference for all possible connections, made up of assets executing on both the source and target chains, with each path being unique. Liquidity Providers on Altitude do not need to worry about Impermanent Loss as they will only add liquidity via Single Asset Staking pools. Furthermore, in case of an imbalance between liquidity pools on different chains for a specific asset, they are always able to withdraw their liquidity on a chain that is different from the original chain they deposited their liquidity into.
Altitude utilizes the HUB, an Ethereum-based router connecting each Chain Path to their respective chains. To enhance security and stability, Altitude utilizes separate liquidity pools for each chain path. This renders each chain path independent of the others, making the entire system resilient to chain outages. This comes with the drawback of dispersed liquidity between all chain paths. To mitigate that, Altitude utilizes the HUB, which each chain path is connected with only one liquidity pool. To bridge between two chains, of which neither is the HUB, users can always route through the HUB to reach their desired destination chain.
Altitude supports the following networks upon launch and can add additional LayerZero compatible networks in the future: Ethereum, Avalanche, BNB Chain, Polygon, Fantom, Arbitrum, Optimism, and Metis.
The team at Altitude recognizes the need for a secure, inexpensive, and fast bridging solution for Blue-chip assets. With the increase of retail users in the DeFi space, Altitude aims to provide a secure and reliable option for users to transfer their assets between different chains and mitigate risks.
In conclusion, Altitude provides a secure and scalable solution for bridging cross-chain. Built on LayerZero, it leverages the latest technology to offer users a seamless experience when transferring their assets between different chains. With its focus on security, decentralization, and providing liquidity, Altitude is poised to be a major player in the Web3 space.