Router Protocol AMA recap : Updates on Audits and a sneak peak into Router V2
Recapping Important Q and A from our AMA Session on 28 September on Discord.
Router Protocol team shared updates from the Router & Dfyn ecosystem. Router mainnet is on its way with the Halborn audit. Chief Technical architect of Router Protocol informed the community about the vision for Router V2 — an IFTT (If this, then that) system on various blockchains powered by XCLP.
How far along is the Router Mainner, 2021 or 2022?
A: Very much 2021! The code is freezed and audits are going on. We do not want to rush the Halborn audit — but we are confident that audit should be done soon. In the meanwhile as the audit completes, we have also started building Router V2. We will be building a fundamental SDK that will act as a foundational infrastructure that allows any smart contract to interact with smart contracts on other chains.
Any updates on the Router Protocol next’s fund raise ?
Some exciting news on the funding side — within a week we are 5x oversubscribed — well known VC firms and at least three major blockchains are investing in us. This will be the first major fundraise of Router as we raised less than $500,000 in our seed round.
What is the tech roadmap for v2?
We have identified that there exists a very unique problem for bridges: they are 1:1. What we want to build is 1:Many and handle the entire accounting of it from one central chain and having it totally decentralized. 1:Many is a problem, as of now there is no bridge which does this. The entire system can look like an IFTTT on a blockchain. It will work as a rule engine where users can make step-by-step actions or use existing recipes to leverage multi-chain rule based actions.
What we are seeing today are islands of ecosystems — Bitcoin, Ethereum, Solana, etc., we want to connect these — transfer funds, information or even vaults. Most of the bridges are getting hacked because there is no common accounting system — we intend to fix that.
Could you tell us a bit more on the Router timelines?
A: We are going to prioritize the EVM chains, some of them have a very strong China focus. In addition, Router will be bridging to Terra & Algorand in Q4. So broad timelines, assuming Halborn audit comes through soon, we will be pushing out the closed alpha on Ethereum and Polygon by November.
We are having a detailed all-system audit not just an audit of smart contracts by Halborn so a lot of attack vectors are being explored.
China-Ban: how do you think that will affect the inflow of new users on Decentralized exchanges?
A: Surely it is a great opportunity to attract these new users moving to DEX’es — we are working with one of the biggest media companies in China— for getting our product news and updates translated and transmitted across the Chinese community of influencers and users. We plan to extend the bridge to chains which are more popular in China.
What are the product level improvements you are doing to capture for Dfyn?
A: We are also working on a few transformation changes such as UI/UX improvements, blender tool, a dust collector, a farming dashboard — to make it easy and less cost for the user. Once the Router mainnet launches, we can launch multiple farms and guide users to choose the one with maximum returns.
About Router Protocol
Router Protocol is building a suite of cross-chain liquidity infra primitives that aims to seamlessly provide bridging infrastructure between current and emerging Layer 1 and Layer 2 blockchain solutions.
Telegram announcements: https://t.me/router_ann