Polkadot Summit 24' - Snowbridge

Hi all, please see below a write up from one of the Polkadot Summit sessions that was held in Bangkok in 2024.
You can use the polkadot-summit tag to see all the other posts, and navigate to the summary post for a recap of the event.

Session: Snowbridge update

Hosts: Vincent and Ali

Short summary of session:

Vincent and Ali from the Snowbridge team took us through their progress to date and covered off specifics around their launch plans, process to register tokens and more detail into the protocol design.

Main discussion points:

  • The bridge is currently deployed on Rococo <> Sepolia
  • Kusama to be released AFTER Polkadot given the session time on Kusama will cause Snowbridge to be 4x more expensive to run.
  • Planning to launch on Polkadot in Q2 2024, however Snowbridge requires 67% key rotation. (Currently 68% at the time of the talk → https://beefy.rotko.net/)
  • Requires approval for runtime#130 to be initiated
  • The bridge will be deployed disabled and then require a governance proposal to activate it.

There will be no centralised oracle for price feeds and instead will rely on the Polkadot Governance to update the price feed.

The team are also creating a javascript api for dapps:

  • Being published soon
  • Covers input validation to ensure basic mistakes aren’t made when bridging assets
  • The team have also created a basic UI for transfers

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