🟩Teleporters - trustless postmans

Teleporters submit users' requests for bridging from Bitcoin to EVM chains on the TeleSwap contract. They enhance user experience as users don’t need to submit their requests manually and also by covering the fee of EVM blockchains for executing the request. This means that users pay all the fees in Bitcoin assets, while the request requires native assets of the EVM chain for execution.

When users send their bridge request on Bitcoin, this request needs to be submitted to the TeleSwap contract after it gets confirmed on Bitcoin, which usually takes around 40 minutes. The request should be submitted after confirmation along with a proof that shows the inclusion of the request on Bitcoin. Teleporter nodes collect users' requests from Bitcoin, wait for them to be confirmed, and then submit them with a valid proof to the TeleSwap contract.

What is the incentive for Teleporters?

Teleporters take a fee from users for their service, which covers their cost for submitting requests on the EVM chain and also running the Teleporter node. This fee is paid from user Bitcoin assets. In their bridge request on Bitcoin, users determine the amount of wrapped assets which goes to the Teleporter. The Teleporter who submits this request receives the determined amount from the TeleSwap contract, which is in the form of wrapped assets

Who can become Teleporter?

One honest Teleporter is enough to guarantee the liveness of the TeleSwap protocol. Anyone can become a Teleporter by running the Teleporter script to process bridge requests from Bitcoin to EVM. This includes users themselves, who can submit their own requests to be processed in the case that their request is not submitted by other Teleporters. Teleporter nodes compete with each other to submit requests faster, as only the first Teleporter who submits the request will get the fee.