Canonical Bridge (Lock, Mint & Burn)

In a Canonical Bridge operating with Lock, Mint, and Burn mechanisms, transfer scenarios typically involve moving tokens between different blockchain networks, especially those built with other protocols and having different token standards, while maintaining a pegged value.

Transfer from Chain A (Avalanche) to Chain B (Polygon):

A. Locking Process on Chain A ( e.g. Avalanche):

1. User Initiation:

- The user initiates a token transfer process on Chain A (Avalanche) through Emmet Finance Bridge.

2. Locking Mechanism:

- The Mapping Bridge locks a user-defined token amount in a designated contract.

3. Validator Confirmation:

- Validators listening to blocks and transactions on Chain A catch the relevant transactions and confirm the locking fact.

B. Minting Process on Chain B ( e.g. Polygon):

1. Cross-Chain Verification:

- Validators on chain B arrive at a consensus and submit a signed transaction on chain B.

2. Minting Tokens:

- Upon the validators' signature verification, the contract on Chain B (Polygon) mints an equivalent amount of tokens, creating a one-to-one correspondence.

3. User Notification:

- The user is notified of the successful minting on Chain B.

Transfer from Chain B (Polygon) to Chain A (Avalanche):

A. Burning Process on Chain B (Polygon):

1. User Initiation:

- The user initiates the token transfer process on Chain B (Polygon) through the Emmet Finance bridge.

2. Burning Mechanism:

- The Mapping Bridge burns a user-defined amount of tokens on Chain B and emits the corresponding event.

3. Validator Confirmation:

- Validators listening to Chain B catch the relevant transaction and confirm the legitimacy of the fact of burning.

B. Unlocking Process on Chain A (Avalanche):

1. Cross-Chain Verification:

- Validators on Chain B arrive at consensus and submit a signed transaction on chain A.

2. Unlocking Tokens:

- Upon verification of the validators's signature, the smart contract on Chain A ~ Avalanche) unlocks an equivalent amount of tokens, restoring the user's balance.

3. User Notification:

- The user is notified of the successful token unlocking on Chain A.

Overall, the Canonical Bridge facilitates the movement of tokens between different protocols while ensuring the pegged value is maintained. The integrity of the process is upheld through lock, mint, and burn mechanisms.