[REDACTED] 2024 | Cross Chain Future is NEAR

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1. 0:01

   today uh yeah I'm going to talk about cross chain uh non- custody cross chain protocol known cccp so yeah I'll start with a core principle of this new protocol actually no that's the main point of building Home Solution was to build non- custody solution and the only way we know to build it is to use uh a Atomic swaps protocol so most of the existing cross Chain Solutions they are actually proof of stake proof of authority some

2. 0:41

   sometimes this is also called U cross-chain oracles uh next point is uh permissionless extendability this means that uh any entity company team can build implementation for any chain and start operating as operator provide D app to their users permissionless without requirement to talk to one inch or any other Contra party so yeah and all the potential restrictions which they want to apply to their users like limited set of resolvers or I don't know fees if they want to charge they can

3. 1:26

   define those things in offchain order data structure structure that's why they don't need to negotiate with the other parties and one more thing is Dutch auction with uh resolvers competition that's the way how we achieve the best possible rates how this protocol is implemented technically it's a stack of different uh software Solutions first of them is 1 in limit order protocol introduced I think more than 3 years ago now uh it's

4. 2:04

   something what is intent like system uh and yeah it's basically limitor protocol I think everyone knows what it is user users give their digital signatures for order data structures and uh this can be used by any other cont party or limited set of Contra parties and this protocol itself is very agile this mean that it can it's fors for example non-fixed amounts you can came up to Dynamic amounts you could can use

5. 2:36

   predicates or any other things you could build limit orders which prices are based on oracles or whatever and that's what Fusion does Fusion is a extension of limit order protocol which uses limit order protocol in special way it just added ddge auctions and resolvers compet ition actually 1in Fusion is in production for more than 2 years and uh yeah it's like intent way for users to swap not perform transactions as they did in the past they do just provide

6. 3:13

   digital signature and enjoy transaction lless uh swaps on their side and fusion plus is uh our implementation on of non- custody cross chain protocol uh that all all what's above plus uh hash time lock escrows that's implementation of atomic swaps basically uh yeah in terms of Technology uh we have a order data structure we have field methods and uh you can see we have maker trades and taker trades this is the thing where all the magic is

7. 3:57

   hidden actually and yeah for sure yeah we have two methods to fill fill order and fill order arcs the difference is that order itself is static structure its size is static it's like uh 8 fields of 32 bytes uh but it's possible to have additional data for the order we call it extension and if extension is presented for the order you have to use other method fill order arcs arcs will have different things it could have a separate Target it could have extension

8. 4:37

   related to order it could also have uh interaction or taker interaction for those who is calling the field and it could have take your permit so we also have uh same methods with the word contract here and different uh format of signature to support smart contract signatures etherum Improvement proposal 1271 and others which are like similar on other chains for example so yeah uh what is maker trades it's like uh field full of different

9. 5:17

   flags you can put see there are series nonsense expiration time also AOW with sender if you want to restrict sander you put latest buys of cender here so yeah and bunch of Flags uh also for for different meanings for example you could make your order to be one short one short order this means that it can be filled only once but can be partially filled for example pmms provide orders like that but there is a another option

10. 5:54

    you could make your order to be to be fully filled to not allow partial Fields it's different use case but it could be useful if you're using one of these options this means that basically order can be filled once and this also have hidden uh optimization under the hood it's like using bit invalidator instead of amount invalidator and it's dramatically cheaper like 15K gas cheaper or something like that and yeah when order have uh

11. 6:30

    extension this extension could have this set of different uh strings it's like different suffixes different predicate calls perits pre interaction extra data a lot of different things and if uh extension exist this mean that part of the Sol 20 bytes of the salt uh should be uh hash of of of the extension and on other side there is a taker traits when someone who is filling the order is

12. 7:09

    uh can also specify some Flags some uh yeah some extra arguments like if they have interaction take your interaction they they can achieve it with this with extension yeah with anything and threshold amount so yeah you can make swap providing providing making amount and getting taking amount as a threshold or you can have specify taking amount and having making amount as a threshold

13. 7:41

    so yeah you you can specify this by the flags so and yeah next important thing to understand is what is interactions in limit orders so yeah important part is that before maker asset are sent to the Target pray interaction call happens then taker interaction calls happens then uh taker funds are being transferred back to maker and then post interaction call happens so how how you can use it uh for example in 1in Fusion

14. 8:21

    resolvers what they are able to do they able to fill multiple orders recursively inside of take your interaction you you start filling one order get to take your interaction it will call you back and then you can start filling another order so that's the way you can start filling as many orders as you wish you will get all funds from all those makers then you can make some swaps or pretend you are doing swaps by just uh exchanging their

15. 8:53

    assets to each other and then you can finalize everything with just returning back so yeah that's the way to have multi of multiple orders it's kind of hidden inside field of order and take care interaction functionality uh next important point is that actually amounts in order they can be not hardcoded they can be dynamic this mean that if you would provide an extension uh you will provide special flag and in extension you will have have uh call data which will be uh sent as

16. 9:34

    extra data to external smart contract which can have any logic but what we have 1in Fusion is basically contract which Implement uh this methods and makes uh DCH auction while parameters of DCH auction are part of extra data and finally 1 in Fusion plus uh is something which allows fill user order and make sure user funds are getting escr first then resol put their own funds on another chain into escrow and

17. 10:12

    then when user will be ready when they both will be happy about finality uh user will release own secret and this secret will unlock funds on both chains from on both escrow so yeah that's the chge which uh shows like steps of this thing so basically uh user funds are being locked in uh escrow then uh resolver funds are being locked in escrow and then they could successfully share a secret and unlock both funds but yeah if something is wrong we can uh can if for example

18. 10:55

    resolver uh do not want or can't finalize everything any other resolver could finalize everything still successfully but if uh cancellation period started for resolver then this means that we have to revert everything we have to revert user funds we have to revert resolver funds and resolver can still do this on on on their own because they have incentive to do this because they have deposit safy deposit but even if they don't have uh like they like un

19. 11:29

    ailable to do this any other resolver can do this so basically it's a atomic swap scheme but it's spice it up with intents so yeah users don't need to make transaction on their own resolvers are incentivized to finalize all the floor or other resolvers will be able to do this is if resolver who started this is unavailable to finalize then yeah any other resolver will be able to do

20. 12:01

    this so yeah that was fast yeah but by the way I'm here in near t-shirt not not Photoshop this is a OG t-shirt photo was made in January of 2020 in Buenos Cirus when I was part of near team yeah we have time for questions don't have that okay yeah we have I see we have two more minutes yes yeah I'll repeat your question to be heard you asked if this cross chain swap only among M chains or not uh the answer

21. 13:01

    is that we developed uh Fusion plus its implementation for evm chains but it's possible to develop implementation for any chain almost any chain for sure there are chains which are unable to do anything but the thing that Atomic swaps idea was introduced back into 2013 means that it was working for Bitcoin like chains like Litecoin Bitcoin Dodge coin yeah so it's possible to implement this thing for every chain

22. 13:33

    which have Smart contracts and for chains which are uto based similar to bitcoin so yeah the one of the important things here here is permissionless oh oops permissionless extendability this means that any other team can Implement Bitcoins protocol according to this specification which we're going to publish soon and they can run their implementation on their website without asking us about asking anyone without negotiating uh any

23. 14:15

    like fees trades anything so that that's why it's like a huge opportunity for many teams to develop those protocols implementations for different chains to provide this service and yeah one more time the the main reason why we started doing own thing is non custody so user is owning their funds at every step of this protocol yeah and yeah the only way we know to achieve this without proof of authority proof of stake things is atomic swaps that's why this is this

24. 14:55

    thing is like uh Atomic swaps but with modern in T and yeah