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Normal transfer
To initiate a normal cross-chain transfer, a user sends a request that locks their BTC on the Bitcoin network. This is accomplished by sending the assets to the Locker's wallet. The user writes her transfer request in the OP_RETURN field of the Bitcoin transaction.
When initiating a cross-chain transfer request, the user specifies important data such as the chain ID, app ID, recipient address, Teleporter fee, and more. Once the request is finalized on the Bitcoin network, a Teleporter collects and submits it to the TeleSwap contract. The contract then verifies the inclusion of the request on Bitcoin and mints teleBTC tokens for the user on the Polygon network. The contract also pays the Teleporter fee and protocol fee from the minted tokens, ensuring a seamless and efficient cross-chain transfer experience for the user.
Users have the option to burn their teleBTC and receive BTC back on Bitcoin. To do so, the user sends a burn request along with their teleBTC tokens on the Polygon network. Once the burn request is submitted, the teleBTC tokens are burned and the request is recorded on the TeleSwap contract. The Locker then has a limited amount of time to send BTC to the user's designated address on the Bitcoin network, otherwise, the Locker will get slashed.
Last modified 2mo ago