As the DeFi ecosystem expands, the need for cross-chain liquidity increases. Users often interact with different blockchains for DeFi, NFT, and metaverse platforms, making it challenging to transfer assets seamlessly between chains. Existing bridging solutions have vulnerabilities and inefficiencies, leading to a risky experience for users. With the rise of hacks on high-volume bridges and unpredictable block confirmation times, there is a demand for a secure and efficient bridging solution.
Introducing Altitude, a composable native asset bridge built on LayerZero. The platform enables Web3 users to transfer Blue-chip assets cross-chain with secured guaranteed finality. As one of the first dApps built on LayerZero, Altitude positions itself as a frontrunner, taking advantage of new technology to set the standard for secure bridging.
LayerZero is a cross-chain communication infrastructure designed to ease the current constraints of omnichain activity. Unlike other bridging solutions requiring users to lock and mint assets, LayerZero relays messages between a growing number of L1 and L2 blockchains, making it a versatile, interoperable platform in the Web3 space. LayerZero uses Relayers and Oracles to ensure the security of the bridging mechanism. An application has to choose a single Relayer and Oracle, but the system is open for third-party providers, making it decentralized and reducing the impact of malicious Relayers.
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, ensuring secured guaranteed finality. Altitude enhances security through the use of Chain Paths, connections for a single asset between two different blockchains. These 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. In case of an imbalance between liquidity pools on different chains for a specific asset, they can withdraw their liquidity on a chain different from the original chain they deposited their liquidity into. Altitude introduces the HUB, an Ethereum-based router connecting each Chain Path to their respective chains, enhancing security and stability. Altitude utilizes separate liquidity pools for each Chain Path to make the system resilient to chain outages, with the HUB making the system more effective, stable, and secure.
Following the rapid expansion of LayerZero, Altitude supports several networks upon launch and can add additional LayerZero compatible networks in the future, including Ethereum, Avalanche, BNB Chain, Polygon, Fantom, Arbitrum, Optimism, and Metis.
The team at Altitude has recognized the need for a secure, inexpensive, and fast bridging solution for Blue-chip assets. As retail users enter the DeFi space, Altitude seeks to provide a secure and efficient bridging solution. With its secured guaranteed finality, Chain Paths, and HUB, Altitude sets the standard for cross-chain bridging. By utilizing LayerZero, Altitude ensures that users can transfer assets seamlessly between different chains without worrying about vulnerabilities or inefficiencies. Altitude is the solution for bridging made easy in the Web3 ecosystem.