Token Migration | Color Crypto Pay
LANCER
Lancer:
<= 2 resources OR <=3 weeks effort OR <=$3000 USD
Growth:2 - 4 resources AND upto 4 months OR
upto $30000 USD
Enterprise:Everything else
(Development)
Project Description
Color Crypto Pay required an interoperable blockchain solution to enable seamless token migration between Binance Smart Chain (BSC) and Polygon. They aimed to ensure secure and efficient cross-chain transactions by automating token minting and withdrawal processes. Oodles developed a solution that detects burn events on BSC and triggers corresponding minting actions on Polygon, ensuring accurate and verifiable token transfers.
Scope Of Work
The client engaged Oodles to build a cross-chain interoperability mechanism for their token migration process. The project required developing an automated system that detects token burns on BSC and mints corresponding tokens on Polygon. To achieve this, Oodles implemented a Node.js service to listen for burn events, integrated Solidity-based smart contracts for token minting and withdrawal, and ensured secure event logging. The solution also included rigorous testing to validate performance across various scenarios.
Our Solution
Our solution for the Color Crypto Pay project includes the following services and technologies:
- Developed a Node.js service to detect burn events on Binance Smart Chain (BSC) and trigger actions on Polygon.
- Implemented a Solidity smart contract to mint equivalent tokens on Polygon and ensure proper logging of events.
- Integrated a withdraw function within the smart contract to manage token vesting based on deposit time.
- Utilized Web3.js and Ethers.js to facilitate communication between the BSC and Polygon networks.
- Deployed and tested the solution using Hardhat to validate functionality under different conditions.
- Conducted unit tests to verify the reliability and security of the smart contracts.