zachchan105 / tmewc

Trustlessly tokenized Meowcoin everywhere

TMEWC

For many Meowcoin holders, one question remains: how can I move my assets across blockchains to make them more useful while maintaining Meowcoin’s core values?

Existing solutions that bridge Meowcoin to Ethereum require users to send their Meowcoin to an intermediary in exchange for an Ethereum token that represents the original asset. This centralized model requires you to trust a third party and is prone to censorship, threatening Meowcoin’s promise of secure, permissionless decentralization.

Threshold aims to solve this problem with TMEWC.

The second generation of TMEWC is a truly decentralized bridge between Meowcoin and Ethereum. It provides Meowcoin holders permissionless access to DeFi and the expanding web3 universe.

TMEWC replaces centralized intermediaries with a randomly selected group of node operators on the Threshold Network. This group of independent operators works together to secure your deposited Meowcoin through threshold cryptography. That means TMEWC requires a majority threshold agreement before operators perform any action with your Meowcoin. By rotating the selection of operators, TMEWC protects against any malicious individual or group of operators seizing control. Unlike other solutions on the market, users on TMEWC are reliant on math, not hardware or people. Additionally, TMEWC is open and accessible to anyone.

TMEWC allows anyone to use Meowcoin in the expanding DeFi and Web3 universe without a third-party intermediary.

Table of Contents

• Overview
• Repository structure
• Contributing
• Security

Overview

tMEWC uses the Random Beacon and Sortition Pool to generate governable-sized (starting at 51-of-100) threshold ECDSA Meowcoin wallets at a governable frequency (starting weekly). The youngest wallet accepts new deposits, and the oldest wallet serves redemptions.

Depositing Meowcoin into the tMEWC bridge grants a transferable Bank balance, which can be used to mint a supply-pegged ERC-20: TMEWC. For an in-depth explanation about the design, see RFC 1: tMEWC Design.

Repository structure

This repository contains the following modules:

• Core smart contracts,

• SDK TypeScript library,

• System tests

• Documentation,

• Yearn vault smart contracts,

• Monitoring tool,

• Cross-chain smart contracts.

Please refer module-level README for specific module’s installation and usage instructions.

Contributing

Contributions are always welcome! Feel free to open any issue or send a pull request. Please see CONTRIBUTING.adoc to learn more.

Security

Please see SECURITY.adoc to learn more about tMEWC security policy.