The Rosen design allows for transfer between any 2 supported chains.
Ergo, Cardano, Bitcoin, Binance Smart Chain, Ethereum, etc.
2022 saw bridges fail because they were poorly made and overmarketed.
It is time for a new standard. Built on clear assumptions.
@Ergo_Platform
RosenLite is LIVE -
The UI to Rosen Bridge has been enabled, allowing public cross-chain liquidity transfers between
#Ergo
and
#Cardano
for an initial subset of assets:
โช๏ธADA
โช๏ธERG
โช๏ธRSN
โช๏ธSigUSD
โช๏ธSigRSV
The first of many bridges and assets to come!
Wen Rosen?โฆ Now.
The RSN/ERG pair has been locked on Spectrum and is now live.
This marks the start of our journey. Those of you who have been following the development of this project over the past 2 years.
Thank you!
@ergo_platform
๐ Rosen Bridge opening markets!
@liqwidfinance
is requesting input for creating a new liquidity market to support wrapped $ERG for lending and borrowing on the Liqwid protocol
#Ergo
#Cardano
๐จโ๐ป
#Bitcoin
bridge update!
The Bitcoin explorer, Esplora, is implemented! This means Bitcoin requirements are implemented for the Guard service!
We are now working on wallet support in the app starting with
@xdefi_wallet
, and researching others
๐ป โฆ
Monumental day!
Guards have initiated successful test transfer
ERG to
#Cardano
63 event reports by Watchers - 81%
ADA to
#Ergo
35 event reports by Watchers - 66%
Further testing and optimizations will continue before the public release of the UI!
Once a network is supported by Rosen, it will be interconnected between all of Rosen's supported networks, with contracts only deployed on Ergo!
Supported Networks
โ
#Ergo
โ
#Cardano
โ๏ธ
#Ethereum
(in dev)
โ๏ธ
#Bitcoin
(in dev)
โ๏ธ
#Doge
โ๏ธ more...
๐ป
All major Cardano wallets will be supported in real Rosen launch. Currently, we are in public beta testing.
Rosen chose to support Nami in testing because it is open source and offers auditable assumptions.
@NamiWallet
Catalyst Fund 11 - EVM bridge proposal successfully funded!
We are extremely grateful for the community support, and the value you believe we bring to the
#Cardano
ecosystem with our opensource bridge
Development has commenced!
#BridgeBetter
#Blockchain
XMR will be delisted by another liquidity gatekeeper,
@Binance
.
In time, Rosen Bridge can open markets to trade $XMR and privacy coins on DEXs
#Monero
#PrivacyMatters
A part of beta testing is refining the user experience.
Thanks to all the Ergonauts putting time and energy into helping refine the Rosen experience.
@Ergo_Platform
#Bitcoin
Bridge integration, research is underway!
Our team is investigating and testing different solutions for writing data on the Bitcoin
#blockchain
and what type of addresses are the best to use.
๐
#RosenBridge
Quick Update!
EVM Extractor that's based on RPC API has been implemented and is under review
The Extractor is used to monitor, retrieve, and analyze data and activity on
#EVM
chains
๐ป
#BridgeBetter
#Ethereum
#Crypto
After 2-3 weeks of cross-chain test transactions, the bridge is technically live and the UI could go live at any moment
We're collaborating with Cardano projects to establish initial pairs on
#Cardano
dexes
Stay tuned for more details
Wrapping up our EVM chain research with the team. A few minor problems to solve, but nothing stopping us from starting to build EVM support.
Ready to make EVM happen. Stay tuned!
#EVM
#Ethereum
#blockchain
#crypto
Exciting times ahead!
We had a great time presenting our bridge framework as part of the Ergo meetup at
#CardanoSummit2023
.
Thanks for attending!
#Ergo
#Cardano
We wanted to take a moment and thank the community
@ergo_platform
for the support.
We are currently working on educational content and putting together the process for turning on the bridge.
Originally we anticipated a potential Guard set of 30. Progression of Rosenet (the Guard p2p layer), we will likely see this extended to approx 100
This will create large thresholds of distributed actors, not seen before in
#DeFi
๐ป
#BridgeBetter
#crypto
@cardano_whale
While we're still in the RosenLite era making optimizations, in time
#Cardano
projects will be able to utilize Rosen to access markets and liquidity in other ecosystems such as
#Ethereum
, bypassing CEXs
All with the assistance of the community running Watcher and Guard instances
๐กCatalyst Fund 11
EVM bridging enhances liquidity and exposure for
#Cardano
and
#Ergo
native assets in
#EVM
environments
The Rosen model is secure, transparent, auditable, and eliminates the financial burden of high listing fees
Soon we'll cautiously initiate the launch with a limited number of transactions allowing us to address any bugs or issues
Watchers and Guards will handle events, giving everyone a chance to view how the bridge operates before opening the UI to the public
The latest
#Cardano
Community Digest is now available!
In this weekโs edition:
๐นFirst Decentralized Data Storage Now Live on Cardano Mainnet -
@IagonOfficial
๐นFirst Ever Cardano
@buidler_fest
Confirmed
๐น
@RosenBridge_erg
Is Now Live Between Ergo And Cardano
Catch the fullโฆ
Bitcoin Bridge Update
Implementing the following:
โพScanner based on
#Bitcoin
Esplora Block Explorer API
โพEsplora Observation Extractor
โพReviewing Rosen-extractor implementation based on Esplora Block Explorer API
#BridgeBetter
#Blockchain
#Crypto
๐งโ๐ป
#Ethereum
/EVM Technical Update!
Bridge support is ongoing and progressing well!
โช๏ธEVM
#blockchain
scanner - Implemented observation extractor
โช๏ธUniversal EVM Rosen Extractor - Implemented along with a change to the RPC txn format
โช๏ธTxn validation - Checking
#EVM
fee beforeโฆ
With the help of the public running our Watcher software, we will provide the opportunity for projects to have access to markets by interconnecting the industry!
๐ป
#BridgeBetter
#Blockchain
#Crypto
Post-launch, Rosen saw an influx of activity. Unfortunately, this resulted in congestion on the Ergo to Cardano bridge, partly caused by a large number of Watchers with a relatively low permit count
Issue identified, funds are safe, fix being implemented
Statement by
@mhs_sam
Congestion on the
#Ergo
to
#Cardano
side of RosenLite has been processed!
Thank you for your patience, RosenLite is providing the opportunity to make improvements and optimizations before supporting project assets
๐ฐ Exciting news for crypto enthusiasts! The Rosen Bridge is now live between the
#Ergo
and
#Cardano
blockchains and is gearing up to add two popular meme coins, Hosky and Comet, to test its infrastructure further!
Read more ๐
#Bitcoin
integration is underway!
EcDSA key management is now supported, a major keystone for integration!
Ongoing integration requires modifications and updates to the current infrastructure and core modules.
#BridgeBetter
#Crypto
#Blockchain
#Cardano
โฆ
๐ Rosen is back online after the major update to increase the Watcher sets.
1999 Watcher IDs are now available for each bridged network. This increases community participation to further aid in the resiliency and security of the platform!
โฆ
Rosen Bridge Expanding DeFi: The Benefits of Integrating Proof-of-Work Collateral into DeFi Frameworks
One of the latest proposals in this space is the integration of
#Ergo
's ERG as collateral within the
@liqwidfinance
protocol on
#Cardano
Read more ๐
Exchanges have too much power in the crypto industry.
With increasing pressure for KYC, regulatory attacks, and middlemen showing they often lack common sense in business and security practices, alternative competing solutions are needed.
@Ergo_Platform
Rosen Bridge is opening the
#Ergo
ecosystem for people and projects to utilize the products and unique features on offer
This also opens opportunities for
#Cardano
and others to bridge assets to their platforms!
#interoperability
๐ฅ We're getting started to update Rosen to expand the Watcher sets.
Here's what to expect in the next few days! ๐
โช๏ธNew config tokens and contracts will be created and deployed (new tokens are internal system tokens and are not something you should care about).
โช๏ธGuards willโฆ
We aim to be the insustry backbone of secure cross chain liquidity transfers, employing and incentivising the public to run services to harden the transfer process.
Watcher numbers are growing!
We will see a boost in the
#Cardano
numbers as the SPOs who participated in the workshops start to spin up their instances
Collateral locked
$RSN 1,530,000
$ERG 40,800
๐ก๏ธ Guards are a federated group of entities managing the Rosen core
We are proud to introduce our initial Guard set. These entities were selected from within the
#Ergo
ecosystem having made significant contributions and building robust reputations
๐งต๐
๐งโ๐ป As we move towards launch, this week our developers updated the following
โช๏ธImplemented UI event page
โช๏ธp2p node broker message logic
โช๏ธGuard manual TX signing API
โช๏ธWatcher Koios and improved logging
โช๏ธUpdated Cardano token IDs in codebase
๐ Watcher collateral requirements are set!
Each Watcher instance will be required to provide collateral* of
โพ800 ERG and
โพ30,000 RSN
As well as acquire a Permit** with a further 3,000 RSN
*Collateral is fully redeemable
**Permit can be seized for fraudulent reporting
The update that will increase the number of available network Watcher slots is ready and undergoing final testing
This will be a multistage update and if all goes well with testing, we will release it in the coming days!
#BridgeBetter
#Ergo
#Cardano
Rosen is a new design for secure liquidity swaps between
#blockchains
with a 2-layer design:
๐ Watchers report
๐ก๏ธ Guards verify
Distributed actors are pivotal in the operation of Rosen, rewards are provided for direct community involvement!
๐ป
#Crypto
Rosen Bridge is an Ergo-centric bridge enabling users to send and receive coins and tokens between Ergo and any other chain.
For more information, open code, and visuals to understand the process, visit our Git.
Enjoy Beta testing
@Ergo_Platform
Watchers, we have identified an issue in the observation queue
This has been resolved and a mandatory Watcher update will be released ASAP
No action is needed right now, stay tuned for further announcements on updating your Watchers ๐
Watchers! Please update to the latest version: 1.0.10
It will take a few hours to organize the observation congestion and then the bridge will start processing events.
Please be patient as the process is slow but finally, weโll reach a stable and steady point!
@freeelancer76
@Ergo_Platform
People should always be cautious. Trust assumptions should be transparent in this industry.
The guard set in Rosen will build up to a threshold of 30.
Chainlink is secured by a 4-9 threshold. It backs how many Defi applications and how much TVL?
Rosen is not necessarily revolutionary. It is designed to be conservative. That is the goal.
Minimize the attack surface as you scale, and be transparent about the threshold needed for execution.
Avoid complexity and poor security assumptions.
@Ergo_Platform
Which chain would you like to see interconnected with the Rosen Bridge web?
Ergo and Cardano are supported with Bitcoin and Ethereum support in active development!
$RSN is the utility token of Rosen
Watchers are required to put collateral in RSN and $ERG allowing them to acquire reporting permits
Guards need to lock RSN as collateral. Funds will be emitted to the Guard Set and involved Watchers in case of any successful bridge transfers
๐ Rosen Bridge fee to perform a cross-chain transfer is currently 0.5% with a minimum of $10, payable in the asset being transferred
๐ The fee is converted to the equivalent value in RSN and distributed as rewards between Watchers and Guards
Our Watcher numbers are climbing after the limit upgrade!
#Cardano
53 (526 permits)
#Ergo
80 (932 permits)
Thanks to the community's assistance and perseverance in getting people back up and running!
Rosen is an Ergo-centric
#crypto
bridge fortified with multi-layered security concensus
๐ Watchers monitor network activities and report valid bridge-related events
๐ก๏ธ Guards then carefully process the reported events and execute required actions
The top 10 DEXs trade ~$5 Billion in daily volume
A Rosen Bridge listing can interconnect chains to provide coins and native tokens an avenue to markets to gain significant exposure to liquidity!
#BridgeBetter
#Ergo
#Cardano
#Ethereum
#Bitcoin
156 Watchers, a new ATH!
An open set of community members contributing to the bridge security, made possible after the 2.0 upgrade!
#Ergo
Watchers: 95, Permits: 1018
#Cardano
Watchers: 61, Permits: 596
Watcher TVL
124,800 ERG, 9.5m RSN
๐ป โฆ
Rosen is not sacrificing security for speed
To detect and avoid forks, double spending, fraud, and race conditions:
๐ Watchers wait for a few
#Ergo
confirmations to reach a consensus before triggering an event
๐ก๏ธ Guards wait for more confirmations to validate an event