Aryze Docs
  • 🌱Introduction
    • Introduction
    • What Are Stablecoins?
    • Why Choose Aryze?
  • 🪙Our Services
    • Quick Start Guide
    • Branded Stablecoins (SaaS)
    • Treasury Optimization
    • FX API Integration
  • 💻Technical Overview
    • Stablecoin Architecture
    • reForge FX Engine
  • 💻API
    • reForge API
      • Get started
      • Endpoints
      • Usage examples
    • Aryze Orders API
      • Get started
      • Endpoints
      • Usage examples
  • Faucet
  • 🪙$RYZE
    • What is $RYZE?
    • Tokenomics
    • Ecosystem Utilities
    • Future Developments
  • 📄Documentation
    • Contracts List
    • Audits
  • 🏛️Company
    • Legal Framework
    • Backing & Solvency
    • Entities
    • Mission
    • Roadmap
    • Resources & Links
    • Media Kit
    • Contact Us
Powered by GitBook
On this page
  • How reForge works?
  • Asset Transfer Across Blockchains
  • Moving Between Blockchains
  • Moving Between Variants
  • Security and Integrity
  • Fees

Was this helpful?

Export as PDF
  1. API
  2. reForge API

Get started

How reForge works?

Asset Transfer Across Blockchains

reForge leverages built-in support within E-Assets smart contracts to enable direct, secure transfers across blockchains. This process eliminates the need for users to trust third-party bridging or wrapping services with their assets.

  • Proof of Burn: A valid proofOfBurn transaction on one blockchain allows reForge to mint new E-Asset on another blockchain, ensuring no duplicate or double representation of assets.

  • Minting to Same Address: reForge mints new E-Asset tokens to the same address (msg.sender) across supported blockchains, significantly lowering the risk of potential man-in-the-middle attacks during asset transfers.

Moving Between Blockchains

For example, when transferring 100 eEUR from Ethereum to Polygon, reForge executes a function that destroys the 100 ERC20 eEUR tokens on the Ethereum blockchain and issues 100 eEUR tokens on the Polygon Blockchain.

Moving Between Variants

reForge enables industry professionals to convert one currency variant to another (e.g., eEUR to eUSD or eGBP) using the same 'burn and mint' mechanism. This conversion process eschews traditional exchanges, liquidity pools, or third-party services, fostering a more secure, transparent, and trustworthy forex environment.

  • On-chain Price Oracles: To ensure accurate and reliable foreign exchange rates, reForge utilizes on-chain price oracles provided by Chainlink.

Security and Integrity

  • No Double Representation: reForge's mechanism eliminates the possibility of double representation of E-Assets and misrepresentation of the total circulating supply.

  • Reduced Hacking Risk: By not accumulating large amounts of assets in a single wallet, reForge minimizes the risk of hacking.

Fees

  • A fee of 0.3% is applied to the transferred amount through reForge, with half of these fees allocated towards fulfilling commitments to RYZE token holders. This includes utilizing revenues for further development and community benefits.

PreviousreForge APINextEndpoints

Was this helpful?

💻