MultiEco Convert

As the number of BRC20 and FERC20 projects continues to increase, their respective strengths and weaknesses are becoming more evident, and the demand for users to switch between the two ecosystems is growing. While BRC21 attempted to bring ERC20 tokens into the BTC ecosystem, cross-chain interoperability should not be one-sided. Therefore, we have designed MultiEco Convert to facilitate the conversion between BRC20 and FERC20 tokens, allowing users to quickly and trustfully transfer their tokens across different networks based on their needs.

During the conversion process from FERC20 to BRC20, we will use smart contracts to lock the assets on Chain A and mint the corresponding tokens based on our XRC20 standard on BTC. These tokens will then be sent to the user's specified address.

During the conversion process from BRC20 to FERC20, we will still rely on decentralized nodes using PSBT to receive the user's BTC assets and unlock them or mint the corresponding tokens based on the XRC20 standard using the smart contract on the target chain. These tokens will also be sent to the user's specified address.

The entire process is coordinated by oracles and relayers to achieve trustlessness. Oracles and relayers are responsible for their actions, with $OXRC serving as collateral for any malicious behavior.