Polkalokr

Partner

LOKR

Polkalokr serves as an escrow platform, where they lock the tokens until the product is delivered and verified. Polkalokr fosters innovative project development over credible chains, initially started out with Ethereum. Their products are there to help build trust in Web3 projects, especially in the Defi space by introducing solutions which will pave the way for decentralized governance adoption. 

Polkalokr Bridgr

Blockchain technology has illustrated a great promise of utility over several fields including “Internet of Things” , finance, governance, identity management, web decentralization and asset-tracking but we have yet to see a single chain successfully achieve all with the ability to scale  and not get stuck into the blockchain trilema. Interoperability allows different chains to collaborate and enable the users to benefit out of other chains in case of facing any blockers on a single chain . LKR Bridgr was created to safely migrate the LKR tokens to other networks.  The vision was to make a cross-chain bridge which would support token migration on prominent chains and not limit the solution to just ethereum and Binance. Since Ethereum has a high gas price users would rather have their funds migrated to chains with low gas price as a standard for instance Binance and Ethereum L2 solution - Polygon chain

The bridgr is interoperable between three famous chains - Ethereum, Binance and Polygon. Polkalokr also opened an opportunity for businesses having their tokens on the above-mentioned chains, they can deploy bridge contracts for their respective tokens using the bridge service enabled by polkalokr platform. 

Architectural Diagram

Bridge User Flow

1. Connect Wallet:

Decentralized applications expect the user to connect their account to the Dapp via wallet extension or wallet application . 


Once the wallet is connected, the account which is currently activated will have its address in the From box. Considering EVM compatible chains have the same account address, users can opt for the source address to migrate the funds on the same account address on other supported EVM compatible networks.

2. Migration from primary chain to the secondary chain: 

After connecting your wallet, now you have to select the chain from the dropdown to which you want to migrate your LKR tokens.  

  • You will be asked to give approval of the tokens to be first transferred to the bridge contract of the native chain.
  • After the amount of token is entered, a fee is calculated which will be charged to migrate the funds from one chain to another, gas fee will be paid by the projects on every migration.
  • Before confirming the transaction a modal is prompted which entails a calculated amount of fees expected - ‘incurred fee’ on the other chain for claiming the funds in the form of tokens that are being transferred . 
  • The incurred fees will be deducted from the amount of the tokens getting migrated. 
  • The bridgr will directly transfer the funds to your account address on the selected chain without making the user worry about paying the fees on the secondary chain in native token. 
  • Once the tokens are transferred to the bridge contract, it takes 40-60sec for the migration to be successful on the secondary chain but the time will be impacted incase of congested network.

3. Migration check through explorer:

 Check the migration hashes using explorers, you can check the ins and outs of funds bia account address. 

Conclusion

Web3 space is all about creating a safe and decentralized space for users to engage and provide easy access to services in a decentralized capacity by ensuring security. Polkalokr enabled  businesses and individuals to escape from the hassle of creating the bridge from scratch and benefit from the service being made available for all. Polkalokr will soon launch bridge as a service, which will open doors for many projects to safely deploy their bridge contracts for their respective tokens and benefit from the inherent security provided by the platform. After the launch of bridge as a service, more evm compatible chains support will be added eventually. 
Checkout the bridgr live on mainnet https://bridgr.polkalokr.com/

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Polygon Migration

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Binance side migration

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Ethereum side Migration

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