Bridged Assets

[Anonymous No.50214355]

Seeing what happened with the Harmony one bridge has made me take another look at bridged assets. Should I just move everything over to Ethereum if I'm not using it? Are things like Multichain and anyswap secure? Or was this something only happened because Harmony one is coded by amateurs?

[Anonymous No.50215841]

>>50214355
not your keys not your coins

[Anonymous No.50215854]

>>50215841
not even remotely relevant retard

[Anonymous No.50215881]

>>50215854
bridged tokens are IOUs for tokens held in another wallet that you do not control

[Anonymous No.50215938]

>>50215881
more relelvant, you should have just led with that

[Anonymous No.50216113]

>>50215938
the statements are equivalent

[Anonymous No.50216158]

aggregator, dex? what is it

[Anonymous No.50216503]

>>50216113
Not exactly, although maybe in the case of multichain. Projects like LINK for example are chain agnostic, I believe it just got deployed on ERC-20 ETH before mainnet. So that right there means none of us are really holding "LINK" So I think it's more complicated than that, although otherwise i agree

>>50216158
Multichain itself is something that's used just to bridge tokens from one to another. It's not a multichain thread though, it's just the most popular one. Essentially how it works is you deposit an asset in ethereum (so USDC for example) and then it mints new USDC on another chain (AVAX/FTM/BSC). But it doesn't burn that token, it holds it in its liquidity pool. Which is a problem