reForge
Last updated
Last updated
reForge is Aryze’s cross-chain liquidity solution, enabling the seamless movement of E-Assets between multiple blockchains. Designed to simplify asset transfers and swaps, reForge eliminates the need for traditional exchanges, liquidity pools, or third-party services, providing users with a more efficient and transparent way to manage their digital assets.
What Does reForge Do?
reForge provides three core functions:
Cross-Chain Transfers Move E-Assets between different blockchains securely. For example, when transferring 100 eEUR from Ethereum to Polygon, reForge burns the eEUR on Ethereum and mints the equivalent amount on Polygon. This ensures a seamless transition of assets between blockchains.
E-Asset Swaps Swap one E-Asset for another directly on the blockchain. For example, convert eEUR to eUSD without needing a traditional exchange or liquidity pool. reForge burns the original asset and mints the new one, simplifying the process.
Cross-Chain Swaps Execute a cross-chain swap between different E-Assets in a single transaction. If you need to swap eEUR on Ethereum for eUSD on Polygon, reForge burns the eEUR on Ethereum and mints the eUSD on Polygon, reducing the complexity of multi-step transactions.
How Does reForge Work?
reForge utilizes a burn-and-mint mechanism to ensure that assets are accurately represented across blockchains, preventing duplicates or double representations. Here's how it works:
Burning the Source Asset: reForge burns the asset on the source blockchain, providing on-chain proof of the burn.
Minting the Destination Asset: The equivalent amount of the asset is minted on the destination blockchain, ensuring a one-to-one correspondence between the burned and minted tokens.
Security Features: reForge mints new tokens to the same wallet address across blockchains, reducing the risk of security threats like man-in-the-middle attacks.
On-Chain Price Oracles: Using Chainlink’s price oracles, reForge ensures accurate and reliable exchange rates, reflecting current market conditions in real-time.
Why reForge Matters:
Interoperability: reForge enables true cross-chain interoperability, allowing users to move assets across different blockchains without relying on third-party services.
Efficiency: By simplifying complex transactions, reForge saves time and reduces costs for users managing digital assets across multiple chains.
Transparency & Security: reForge uses on-chain proof-of-reserves and is designed to eliminate the risk of double representation, ensuring that all transactions are secure and fully transparent.
Fees:
reForge applies the following fees to transactions:
Weekdays: 0.3% transaction fee.
Weekends: An additional 3% markup is applied between 5 pm Friday and 6 pm Sunday (New York time) to account for potential currency price fluctuations while foreign exchange markets are closed.
50% of the fees collected support $RYZE token holders through buy-back-and-burn initiatives, strengthening the ecosystem.
Please note: The FX rate displayed in your Reforge transaction history is the actual rate applied after deducting all applicable fees. This rate differs from the market price used for the transaction calculation at the time of execution, which you can find in the transaction input parameters on the blockchain.
