X-Talk Token Swap
The ability to swap up a Fungible Token on Chain A with the Fungible Token on Chain B. The two chains may be EVM or Non-EVM compatible blockchain networks. The source token will automatically be burnt on Chain A, and the equivalent destination token will be minted on Chain B. This allows the Fungible Token to be swapped and used on any platform for various purposes.
Example:
The ability to swap a fungible token on Binance Smart Chain with a fungible token on Solana. The source fungible token will be automatically swapped with the destination fungible token. The token will be usable on the destination chain for transaction fees, staking, governance, and trading.
Technical Workflow
Workflow explained
User deposits Fungible Token to the L1X Smart Contract on the Binance Smart Chain. L1X Smart Contract sends these tokens to the L1X Liquidity Pool.
User initiates the Smart Contract on the L1X Chain that makes the Execution Manager ready in terms of listening to the L1X Smart Contract initiation events.
Execution Manager informs the Rule Engine about Transaction Type. In this use case, it’s ‘L1X_Swap’.
Rule Engine verifies the event and forwards it to the Rule Processor.
Rule Processor filters and sends relevant information to the Rule Database.
Rule Database gives the response for the associated function call.
Rule Engine sends an event for an empty struct to the Execution Manager with function/rules and its relevant variable/function parameter details.
Execution Manager requests the Execution Register to store the information about Fungible Token deposited to the L1X Smart Contract.
Execution Register stores the event information and informs Execution Manager.
Execution Manager invokes L1X Smart Contract on the Solana blockchain network to send Fungible Token from L1X Liquidity Pool to the destination address.
Event is triggered once Fungible Token is successfully transferred to the Solana destination address.
Rule Engine sends the corresponding event for the transaction struct to the Execution Manager.
Execution Manager provides the information about ‘the successful Fungible Token swapping to the Solana network’, to Execution Register.
Execution Register stores the information and updates the Execution Manager.
User is informed about successful FT swapping and availability of the Fungible Token on the Solana Blockchain network.
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