Stablecoin Bridge
Summary
- Stablecoins have become a huge part of the cryptocurrency economy. Solving for high levels of volatility, and more familiar to end users, they’re a large part of how end users onboard to BCH and also how commerce among & between different cryptocurrency ecosystems happen
- Stablecoin projects are also growing within BCH. Most prominently:
- ParyonUSD (BLAZE sponsors!!) paryonusd.com
- MoriaUSD moria.money
- BCH is still small, and one of the ways it can most easily facilitate growth in its liquidity & transactions is to grow our stablecoins, which can happen by lowering the barrier to entry from stablecoin users on other chains
- Build a bridge connecting BCH stablecoins to stablecoin liquidity & tokens in other (and much larger) ecosystems! This will help bring in fresh liquidity & excitement from spare capital in other projects.
Requirements
- Build a project that allows users to bridge or swap stablecoins into & out of BCH
- Ie. to be able to convert stablecoins on other chains to BCH stablecoins (eg USDC on ETH into PUSD on BCH)
- And vice-versa, BCH stables to other-chain stables (eg PUSD on BCH into USDC on ETH)
- A swap from BCH stables to stables in one other ecosystem is sufficient, but from BCH stables to multiple/any other ecosystems would be even better. More liquidity, more flexibility!
- The faster, cheaper, and easier to use the bridge is - the better.
- On the BCH side, WizardConnect is highly recommended.
- On the other chain side, WalletConnect is probably essential - but it depends on the paired chains and what is popular/easiest for their wallet integration stack.
Stretch goals
Additional considerations (outside of the basic spec) but receive extra credit
- Project only needs to support 1 BCH stablecoin, but supporting multiple would be better
- Contacting influential members of other ecosystems that would be willing to facilitate and promote the bridge for users of the other side of the bridge is a laudable business win.
- Especially good would be integration or collaborations that route through large popular and existing multicoin providers like ShapeShift, ThorChain etc.
Additional Notes
ParyonUSD is sponsoring BLAZE this year, so they are an excellent choice for first priority integration & demo purposes.
