🌉How Haven1 Bridge works

Haven1 Bridge is truly decentralised and maximally secure tech to onramp and offramp your assets into Haven1 from and to other chains

Haven1's Asset Bridge and Storage system is designed to ensure secure and efficient handling of digital assets within the Web3 environment. This page outlines the key features and functionalities of the system, focusing on safety, transparency, and user convenience.

Introduction to Haven1's Asset Bridge

Haven1's asset bridge enables safe and efficient token transfers between Haven1 and other blockchains. This document outlines the key features, security measures, and operational procedures of the bridge to ensure users can manage their assets securely.

Cryptographic Attestation and Best in class security

Haven1 implements rigorous security protocols such as cryptographic attestations to uphold the highest standards of asset security:

• 1:1 Verifiable Asset Backing: Every token on the Haven1 bridge is backed 1:1, ensuring full transparency and constant accessibility for users to verify their holdings. This backing can be verified in accompanying proof of reserves(Example Link)

• Advanced Security Guarantees : Haven1's bridge security exceeds typical multi-sig setups found in many Ethereum L2 , employing distributed keys among seven globally recognized validators across the Web2 and Web3

• Bridge vault security: Withdrawal processes incorporate rate limits and time delays, managed securely through Fireblocks to ensure safe and orderly transactions

• Bridge Audits: The bridge will undergo a comprehensive security audit before the mainnet launch, with results published to strengthen community confidence.

These security measures are crucial in maintaining trust and integrity within the Haven1 ecosystem, safeguarding user assets with the utmost reliability.

Deposits and Withdrawals Process

• Deposits and Token Issuance: Tokens deposited into Fireblocks Vault in the source network are mirrored by minting corresponding backed tokens on Haven1, facilitating seamless asset transfers.

• Withdrawal Safeguards: Similarly when the user withdraw these backed tokens via the bridge, these backed tokens are burnt and the corresponding assets are sent to user wallet on destination network from our Fireblocks vault

Permissioned Token support

• Controlled Access: The integration of tokens from external blockchains is subject to a comprehensive whitelisting and approval process, allowing only secure and pre-vetted assets into the Haven1 ecosystem.