HelixBridge is built on top of a universal messaging bridge, introducing a market-making mechanism, allowing users to transfer assets between different chains more securely, conveniently, and at lower costs. It is completely open-source and decentralized, and is compatible with any EVM-compatible chain.
Traditional asset bridges face security issues such as liquidity pool asset custody risks and the risk of generic message attacks. HelixBridge disperses liquidity across various market maker accounts, and liquidity assets do not require custody, effectively reducing asset custody risks. Simultaneously, relying on a high degree of decentralization and decoupling from generic messages, only a small amount of in-transit funds are affected by generic message security concerns, effectively reducing the risks associated with cross-chain message security. With the introduction of a market-making mechanism, the execution fees for each cross-chain transaction are very low, and the speed is also faster.
We have drafted and implemented a market maker protocol called Liquidity Node (refer to https://docs.helixbridge.app/helixbridge/liquidity_node_v2 and https://docs.helixbridge.app/helixbridge/liquidity_node_v3). This protocol introduces three roles: users, relayers, and slashers. After users initiate transactions, relayers provide liquidity while monitoring messages and completing asset exchanges with users. Slashers are responsible for supervising relayer behavior and ensuring the closure of user transactions in case of relayer failures. On-chain, we use Solidity contracts to implement the protocol, and off-chain, we use The Graph for indexing.
Here are the main repositories for our engineering implementation.
We deploy contracts on different chains and aggregate information from each chain using indexing services to provide to users. Meanwhile, relayer clients are distributed across various relayers, forming a complete cross-chain asset system. Under normal circumstances, neither slasher nor generic messages are required. Only when a relayer malfunctions or behaves maliciously, the slasher can help users complete cross-chain transactions and penalize the relayer by activating generic messages through the system.
Delivering messages between different blockchains is relatively complex and costly. But this is a secure and stable communication between decentralized blockchains. User asset security is always paramount, and at the same time, it is also the most difficult and complex aspect for protocols and systems. Separating asset bridges from generic bridges allows HelixBridge to focus more on protecting user asset security. The potential risks brought by asset custody are enormous, and asset bridges should strive to minimize this risk as much as possible.
By integrating a wider range of chains and introducing more incentives to encourage relayers to add liquidity, we can reduce user transaction fees and enhance trading depth, thus creating a positive feedback loop. Conducting more in-depth contract security audits to help mitigate the security risks introduced by engineering implementations.