Integrating NEO into Equito cross-chain messaging protocol.

[grantshares-dapp]

Abstract

What would you like to do? Describe your project/idea in a few sentences.

Equito would like to integrate our cross-chain messaging solution with the NEO ecosystem.

Proposal Information

Description

Equito is an infrastructure-as-a-service provider. We create cross-chain messaging solutions that are easy to implement with low-code and open-source SDKs. With Equito, projects can easily transmit data, digital assets, or create cross-chain dApps. Our vision is to make bridges a safe and permissionless commodity with real-time execution, open-source code, and fully decentralized validators.

Motivation

The Equito protocol wants to focus on non-EVM networks so as to further connect the ecosystems. We believe in the NEO's underlying technology and potential market growth.

What are the main goals, and why? How would you bring value to the community?

When it comes to web3 infrastructure, more is better. Additional cross-chain gateways extend NEO's reach to new users, communities, and liquidity. Competition among bridge protocols also encourages improved performance, security, and transparency across the board. By offering the fastest cross-chain transactions, we are empowering NEO users with unprecedented speed and reliability, enabling seamless interactions across different blockchain networks. This not only fosters innovation and collaboration but also attracts new participants, both developers and users, to the NEO ecosystem. We believe that Equito will contribute to ecosystem growth by making it more robust, inclusive, and future-ready.

Deliverables & Roadmap

Milestone 1 - Network and Assets integration - Timeline 3 weeks:

Project Initiation:

• NEO Network integration will commence with a kick-off meeting to introduce all project stakeholders

• Equito will establish secure communication channels and encrypted data rooms with key members of the NEO Network development team to gather all necessary information for SDK customization such as:

• Language/software stack

• Access/credentials to relevant code repository

• Conduct research study on targeted destination chains to understand potential software development obstacles, security considerations,

Preliminary Software Development:

• Create Vault - Minter mechanism for supported blockchain

• Create Minters for all compatible assets required for NEO Network on each supported chain

• Update documentation to describe additional features and security

Deliverables:

• Vault & Minter creation

• Documentation delivery

Milestone 2 - SDK Update - Timeline 1 week:

• Upon integrating the new blockchain and assets, Equito will update the SDK to propagate the latest version to all SDK clients.

As a new blockchain is integrated, Equito validators expand and secure the network and all SDK clients will receive an update to the latest SDK version.

Enable Feature-rich Support:

• Provide Equito SDK access to the NEO DeFi ecosystem

• Enable relevant wallet support for NEO Network

• Enable bridge analytics functionality

Deliverables:

• Testnet release of updated SKD

• NEO chain & assets support on Equito SDK

• Deploy documentation on GitHub

Deliverables:

• Report on findings

• Bug fixing

• Open testnet

Budget x Milestones:
Milestone 1 - Network and Assets integration -
Timeline: 3 weeks
Budget: USD 6 k
FTE: 2

Milestone 2- SDK Update -
Timeline: 1 week
Budget: USD 2 k
FTE: 2

Total Budget: USD 8k

Deliverables Verifiability

How would the community be able to verify that the promised deliverables (or milestones) were successfully achieved?

Deliverables will be published on GitHub.

Budget Plan

• What are the overall required resources (i.e., budget)?

Equito requires USD 8k for development efforts.

• Provide reasons why the requested budget is a good fit for the proposal.

We estimate that this scope of work will require approximately 320 man hours or USD 25 per hour in development.

• How the budget would be used to achieve the project goal?

Funds will be used only for development efforts.

About You / Your Organization

• Individual/Entity Name: Equito
• Website: https://equitofinance.com
• GitHub Organization (if applicable): https://github.com/orgs/EquitoBridge/repositories

Short-Bio

Few sentences about you or about your organization.

Equito has already developed the fastest cross-chain bridge currently on the market. We are live on Mainnet and continue to innovate new network-to-network security solutions. Our team is committed to delivering safe and reliable infrastructure for users to explore new markets and participate in new communities. For our work, Equito received the Algorand Developer Award for excellence in coding.

Portfolio of Projects / Past Experience

Provide information about what you've done in the past. What is your experience? What did you build/achieve in the past?

There's no problem if you don't have vast past experience or a portfolio. We just want to hear more about what you've done or have been doing.

Equito previously developed a DEX on the Algorand Network and our team has created backend infrastructures for TradFi banks and financial institutions in Europe.

---

Proposal Info 📋

• Proposal Type: request-for-funding

• Amount Requested: 1000

• Token: 0xef4073a0f2b305a38ec4050e4d3d28bc40ea63f5 (NEO)

• Receiver Address: Ndbmr1niiSLJDhPmyVbmqYtTWvXJh2igdh (0x2856d90dc46531128997086439f7f9d0714f01c2)

• Created by: @paolodipp 🚀

• Raw Intents: 👀

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  "target_contract" : "0x6276c1e3a68280bc6c9c00df755fb691be1162ef",
  "method" : "releaseTokens",
  "params" : [ {
    "type" : "Hash160",
    "value" : "ef4073a0f2b305a38ec4050e4d3d28bc40ea63f5"
  }, {
    "type" : "Hash160",
    "value" : "2856d90dc46531128997086439f7f9d0714f01c2"
  }, {
    "type" : "Integer",
    "value" : "1000"
  } ],
  "call_flags" : 15
} ]

---

👇 React with 👍 if you liked it, or 👎 if you think this proposal can be enhanced!

[csmuller]

Hey @paolodipp, welcome to GrantShares and thanks for your proposal.

I'll start the discussion with one simple question: Does every token on Neo that wants to be cross-chain "compatible" need a new minter contract on the other compatible chains?

[paolodipp]

Hello @csmuller , Equito can support any token on the NEO blockchain. Equito creates its own wrapped version of the token on each chain and yes, every token has one specific minter.

[DylanNNT]

Great to see this proposal for GrantShares, the Neo ecosystem should constantly be on the lookout for new bridges. I'm excited to delve in a little more and have some questions to get the convo rolling.

What are some of the lessons learned from bridge hacks and exploits over the years? How does Equito implement solutions for these potential attack vectors?

Beyond token migration, what are some other types of cross-chain communication the Equito x-chain platform seeks to facilitate?

Beyond Ethereum, BSC, and Algorand, what are some other chains the team is looking to support?

The same bridge can have multiple exploits, especially as new elements from an L1 are deployed on new smart contracts, dApps, etc. What does long-term support look like for the Neo blockchain? How will the team ensure utmost security when bridging on and off Neo?

Are there any dApps or projects in the Neo ecosystem the Equito team is looking to collaborate with?

Will the Equito team need a direct line of communication with the core devs or the lead dev team at Neo Global Developoment?

Thanks for taking the time to provide your responses!

[paolodipp]

Hi @DylanNNT , thank you for interacting with our proposal.

The majority of exploits in the bridge industry have something in common: centralization.
If we learn a lesson from history, centralization opens the door to corruption and exploitation.

Equito is building towards a fully decentralized cross-chain protocol with a truly innovative validator network.
Equito protocol bridges all types of cross-chain data.
Our team is focused on connecting all blockchain ecosystems with emerging technology and communities.

In terms of security, Equito follows a different path:

1. Internal and external audit:
   Before integrating any network, Equito’s team conducts rigorous internal stress testing and third-party audits.

2. Validator network – multi-signature validation of every transaction:
   To achieve decentralization, technology is not the only essential component.
   The architecture of the consensus mechanism is equally as important. A proper governance and consensus mechanism is required to avoid SPOF.
   Equito has adopted an approach that allows the protocol to achieve decentralization and security by scaling the adoption of the protocol itself.

Equito is looking forward to providing seamless interoperability to the NEO ecosystem via the Equito SDK. We are ready to collaborate immediately with projects actively building in the NEO DeFi ecosystem.

Communication with the NEO development team is helpful to better understand the ecosystem's requirements at present and in the future.

Thank you again @DylanNNT for your questions.