On February 10, Cycle Network reached a significant milestone with the official launch of the Alpha mainnet. As a team dedicated to advancing cross-chain technologies, we are keenly aware of the challenges in the current multi-chain ecosystem: fragmented liquidity, cumbersome bridging processes, and the complex balance between efficiency and security. With the launch of the Cycle mainnet, we aim to offer the community a new solution: a fully interoperable architecture that eliminates the need for cross-chain bridges, along with the first live application, Golden Goose. Furthermore, we have formed a deep partnership with Symbiotic, a modular restaking protocol that supports a wide range of assets, to jointly build a more reliable foundation for decentralized ecosystems.

Achieving Bridge-less Cross-Chain Transactions

In traditional cross-chain solutions, users are forced to rely on centralized bridges or complex multi-signature mechanisms, which not only introduce security risks (such as the billions of dollars lost in cross-chain bridge attacks) but also lead to fragmented liquidity and high operational costs. Our team has re-engineered this process from the ground up. Through Verifiable State Aggregation (VSA) technology, Cycle achieves three key improvements:

1. Bridge-less Asset Transfer: Users can seamlessly transfer assets between EVM and non-EVM chains as if operating on a single chain, without relying on centralized bridges or complex mechanisms.
2. Zero-Latency State Synchronization: Real-time cross-chain transactions are verified through ZK proofs, instantly confirming transactions and eliminating the typical wait-for-confirmation delays.
3. Balance Between Security and Efficiency: A three-layer architecture (Extend Layer, Cycle Layer, and Security Layer) separates validation, execution, and finality assurance, optimizing both security and operational efficiency.

To help users better understand how Cycle operates, we break down the roles of each layer:

When users initiate a transaction through the Cycle platform, the request is first sent to the Extend Layer, which handles the protocol translation and relays the request from the source chain to the Cycle Layer. This layer is responsible for aggregating and validating the transaction data, utilizing VSA to consolidate state information from multiple blockchains. The validity of the transaction is verified through ZK proofs, ensuring that the data is both secure and transparent. Once validated, the data is passed to the Security Layer, where consensus mechanisms from secure blockchains — such as Ethereum — are used to confirm the transaction’s legitimacy. After this final validation, the transaction state is executed on the target chain, completing the cross-chain transfer.

Symbiotic Partnership: Strengthening Cross-Chain Security

Although Cycle has constructed a robust three-layer security system, we firmly believe that true decentralization requires ecosystem collaboration. This is the core reason for our strategic partnership with Symbiotic — by incorporating its staking security model, we add an economic constraint layer for cross-chain operators.

As part of Cycle’s security layer, Symbiotic’s staking security mechanism provides additional protection for cross-chain transactions. Specifically, Symbiotic requires nodes participating in cross-chain transaction validation to stake collateral in vaults. If incorrect cross-chain state proofs are submitted, the collateral will face penalties (slashing). This mechanism ensures that the transaction state on each chain is accurately verified, preventing dishonest behavior and thus improving the security and reliability of cross-chain transactions.

Showcase: How Golden Goose Defines a New Paradigm for Full-Chain Yield?

This bridge-less cross-chain model, combined with Symbiotic’s staking security mechanism, has been successfully piloted in Golden Goose’s cross-chain asset pool, substantially lowering the risk of malicious behavior by operators. Golden Goose is a hybrid yield platform built on Cycle Network technology and the first full-chain yield game. It utilizes Cycle’s cross-chain liquidity abstraction to support multi-chain assets, providing users with stable APY and rewards through gamified experiences.

Golden Goose combines DeFi and GameFi, allowing users to enjoy stable yields and earn additional rewards, project airdrops, and high returns through interactive gaming experiences such as incubating blind eggs and raising geese. Golden Goose offers two yield models: Professional investors can choose Pro Mode, focusing on stable and sustainable growth, while general users can enjoy a more interactive and engaging investment experience through Game Mode.

Since its launch, Golden Goose has attracted over 140,000 registered users, with 9,000 users making deposits and more than 2,000 users spending over $100 on the platform. Its TVL has surpassed $10 million. The platform’s gamified design and cross-chain liquidity have greatly enhanced user participation and provided new growth opportunities for Web3 projects.

The Future Begins Here

The launch of Cycle’s mainnet marks the transition of bridge-less cross-chain technology from theory to practice, but this is just the beginning. Cycle Network will gradually enable asset flows between non-EVM and EVM networks, enhancing cross-chain interoperability. We are moving towards a future where multi-chain ecosystems operate seamlessly and securely, without users having to worry about the underlying complexities.

About Cycle Network

With the development of rollup technology and heterogeneous blockchains like Bitcoin, Solana and Ton Network, fragmented liquidity and complicated user experience has been a significant problem.

As a universal and secure solution, Cycle Network offers bridgeless liquidity abstraction through verifiable state aggregation, supporting all Bitcoin and EVM networks. This enables users to interact and transact across chains and dApps in a trustless, secure, and omni-chain environment, without the need for bridges. It also provides developers with a unified interface to access all-chain liquidity without having to manage underlying complexities by themselves.

Cycle Network boasts a robust community of over 600k users and 800k+ transactions across 20+ top-tier blockchains. It is incubated by Binance Labs and led by Vertex Venture, a member of Temasek Holdings, in its funding round.

Cycle Network & Symbiotic

Cycle Network will utilize the shared security from Symbiotic as a network on its upcoming alpha mainnet to further safeguard cross-chain transactions and enhance interoperability across Bitcoin and EVM-compatible blockchains.

The figure above illustrates the three primary components within the Cycle Network framework: the Security Layer, the Extended Layers, and Cycle Layer. The Extend layer consists of source chains and destination chains, such as Layer 2 and appchains. In Cycle Layer, an aggregated Cycle state will be generated from all transactions including the cross-chain transactions across Extend Layer and internal transactions within Cycle Layer. This whole process will be safeguarded by Security Layer where Cycle Network inherits security and stability from Ethereum and Symbiotic. The consensus mechanism guarantees state security so that two nodes will not present conflicting results. It also provides the finality guarantee that the transactions will be finalized within the bounded time.

Symbiotic enjoys a permissionless, multi-asset, and network-agnostic design, enabling scalable and capital-efficient sourcing of economic security. It enables networks like Cycle Network to control and adapt their own (re)staking implementation in a permissionless manner. This partnership will further enhance the security of the Verifiable State Aggregation (VSA), the cornerstone of Cycle’s chain abstraction infrastructure, bridgeless SDK and Dapps in the Cycle ecosystem.

What’s Next

Cycle Network will continue to move towards the goal of realizing Web3 Mass Adoption. With the successful launch of Alpha Mainnet, it will gradually expand and support more blockchain networks to further break down the communication barriers of the current Web3 multi-chain ecosystem. For example, supporting the community to vote for the networks to access, ensuring that the platform continues to innovate and expand to meet diversified needs, and providing connection and collaboration opportunities for more chains. Through seamless inter-chain interaction, it promotes the integration of Web3 and Web2, and becomes a key bridge connecting the two worlds.

On the application side, Cycle will continue to introduce innovative features, including an onchain game that supports chain-abstracted yield and a live streaming Launchpad platform tailored for TikTok. This platform will provide more than 3 billion TikTok users around the world with brand-new yield opportunities, further advancing the connection between the Web2 social platform and the blockchain world and enabling more users to easily access the decentralized ecosystem.

For technology development updates, Cycle Network will further optimize the chain abstraction API to provide smoother inter-chain application deployment experience for Web2 and Web3 developers, further promoting the expansion and popularization of the Web3 ecosystem.

Cycle Network will launch its highly anticipated alpha mainnet on January 28, 2025, marking the start of the Pre-TGE phase. In collaboration with Symbiotic, a modular restaking protocol supporting a wide range of assets. Cycle Network aims to build a bridgeless liquidity network secured by shared security infrastructure, addressing dApp fragmentation and promoting a unified Web3 ecosystem.

Growth and User Expansion

Cycle Network’s first testnet, launched in February 2023, has attracted significant developer and user interest, leading to its inclusion in Binance Labs’ S7 program. Golden Goose, the first GameFi platform on Cycle Network, has seen over 800,000 active test addresses, with more than 100,000 users from TikTok. The platform is expanding into Brazil and Japan, showing strong international growth.

Breakthrough Market Achievements

Golden Goose is the first Web3 product to leverage TikTok for Web2-to-Web3 transition, utilizing Cycle Network’s Bridgeless technology. This innovation is not only revolutionizing GameFi but also enabling successful cold-starts for partners.

Strategic Support and Future Plans

Cycle Network’s Alpha mainnet launches on January 28, 2025, with incentive and developer reward programs. After the Alpha mainnet launch, Cycle Network will gradually enable asset flow between Non-EVM and EVM networks, enhancing cross-chain interoperability. And keep supporting more chain abstraction developers to catch more retails around web2 and web3.

For more details, visit the official website.

About Cycle Network

Cycle Network is a Web3 infrastructure project focused on full-chain interoperability and bridgeless liquidity for DeFi. It is setting the stage for a more efficient and secure blockchain future.

Learn More:

Official Website｜Twitter | Telegram

TL;DR

The journey of chain abstraction was inspired by centralized exchanges (CEXs), and has progressed through stages like DEX + Bridge and the Intent Model, ultimately arriving at the concept of Chain Virtualization. This innovative infrastructure abstracts the complexities of interacting with multiple blockchain networks, providing seamless cross-chain functionality while maintaining security and decentralization. Projects like Cycle Network are leading the change with technologies like Verifiable State Aggregation (VSA), offering developers and users unified interfaces and bridgeless cross-chain liquidity. This marks a critical step towards the future of decentralized applications (dApps) and mass adoption of blockchain technology. The transformation of Uniswap into Unichain further illustrates this evolution, showcasing how chain abstraction can resolve bottlenecks in decentralized finance (DeFi) and enable the next generation of Web3 applications.

1. Introduction

With the increasing need to improve user experience, simplify multi-chain development and unify fragmented liquidity, the concept of chain abstraction went debut under the spotlight in 2023 and is expected to be the critical match point towards mass adoption. The fundamental ideology of chain abstraction has been deeply rooted in many remarkable products throughout the development of blockchain industry. In fact, we have witnessed an evolution of chain abstraction since 2017. To further elaborate this evolution, I feel the necessity to spin up a discussion on the three ultimate philosophical questions: What is chain abstraction? Where does it come from? Where is it going?

2. Definition: What is Chain Abstraction

The rapidly increasing number of chains has posed the challenge of fragmentation to both users and developers. Users have to handle complicated procedures of cross-chain transactions, as well as multiple cross-chain fee and slippage brought by liquidity fragmentation. Developers need to deploy on multiple chains to address all-chain audience. Incompatibility of factors such as finality, security model and validation proof also restrict developers from building multi-chain environment innovation. For example, in the recent article, Vitalik highlighted the significance of open standards like cross-L2 transfers for achieving better alignment and open collaboration in the Ethereum ecosystem.

To address these issues, chain abstraction aims to abstract and encapsulate the functionality of multi-chain systems, allowing users and developers to interact with blockchains without interpreting the underlying operations.

• For users: chain abstraction can significantly flatten the learning curve for interpreting complex cross-chain operations in Web3 applications.
• For developers: through unified interfaces, chain abstraction can significantly lower the development barriers to creating dApps and greatly enhance the portability of dApps across different blockchain ecosystems.

3. Journey: Where does Chain Abstraction Come from and where to Go

3.1 CEX: Early Chain Abstraction and the Centralization Dilemma

As the solution with the largest user base in the industry, CEXs are the first and the most successful application to implement cross-chain transactions up to now. CEXs provided Web3 users with an affordable and efficient trading environment, addressing the primary needs of early Web3 adopters. With the advent of decentralized mining solutions and the expansion of multi-chain ecosystems, CEXs eliminated the need for users to manage multi-chain assets independently. Instead, through the centralized intermediary, they offered streamlined access to on-chain products such as DeFi liquidity mining, PoS staking, and even financial services. Notably, at one time, exchanges acted as delegations for voting in PoS projects.

However, in an industry fundamentally driven by decentralized technologies, the reliance of the majority of users on centralized intermediaries to engage with innovative products presents a clear contradiction to the core principles of decentralization.

3.2 DEX+Bridge: Solutions and Challenges in the Multi-Chain Era

As decentralized blockchain networks have evolved, DeFi products such as Uniswap emerged, providing a convenient and user-friendly interface that enables users to directly engage in on-chain transactions. However, the growth of multi-chain ecosystems has introduced substantial barriers for users entering the blockchain space. Consequently, the combination of decentralized exchanges (DEXs) and cross-chain bridges has become a widely adopted approach to address these multi-chain challenges. Users can leverage DEXs to exchange their existing assets for an intermediary token, which is then transferred to the target chain via a cross-chain bridge, and subsequently converted into the desired token on the destination chain through another DEX.

Nevertheless, the high gas fees and operational complexity on-chain, along with the associated security risks, have prompted many users to return to centralized exchanges (CEXs), positioning CEXs as key intermediaries connecting various blockchain networks.

This raises a key question: Amidst the challenges of high gas fees, operational complexity, and security risks inherent in DEX+bridge solutions, the question arises: How can we attain a user experience that rivals the seamlessness of CEX? The solution and focus therefore comes to Chain Abstraction.

4. Exploration: Where is Chain Abstraction Going?

Currently, the solutions for achieving chain abstraction can be broadly categorized into two main approaches.

4.1 Intent-Centric Solutions: Based on the Bridge+DEX Problem

First, the solution was proposed to address the issues arising from the DEX+Bridge combination. In the DEX+Bridge scenario, users often have the following demand: they want to exchange token b on chain A for token d on chain C, while needing to pay a (the gas fee on chain A) and also have c (the gas fee on chain C) to facilitate the future transfer of token d. This process involves at least three swaps and cross-chain operations, making it highly complex. However, the user’s actual intent is simply to exchange b for d. Therefore, the Intent model, which is centered on user intent, allows the user to express only the final outcome they desire, with the complex intermediate steps being handled by the protocol and application layers, providing an almost seamless user experience.

Although the Intent model simplifies on-chain operations for users, the growing complexity of on-chain demands, such as LRT redemption and cross-chain MEV, has led to the emergence of new challenges. The development of infrastructures like cross-chain bridges and abstract accounts, which aim to simplify these operations, has lagged behind the increasing complexity of on-chain activities. From a practical perspective, current Intent implementations have not significantly reduced the complexity of multi-chain interactions. Instead, transaction execution and the total cost heavily rely on third-party solutions, thus falling short of meeting the criteria for widespread adoption.

4.2 Chain Virtualization: Inspired by CEX Experience

An alternative solution, which addresses the fundamental issue of multi-chain fragmentation to replicate the seamless experience of centralized exchanges, is what I refer to as Chain Virtualization.

Within the Virtualization framework, the establishment of foundational liquidity unification is of critical importance. Drawing inspiration from the architecture of CEX, the concept of Chain Virtualization has been introduced. This innovative infrastructure technology aims to abstract the complexities of managing multiple heterogeneous blockchain networks, enabling developers and users to interact with various blockchain ecosystems through a unified interface. This eliminates the need for trust-based intermediaries like bridges, allowing developers to focus on innovation and programming rather than the intricacies of different blockchain protocols. Users can also enjoy a CEX-level seamless user experience while natively on-chain, which proves beneficial for enhancing user acquisition and fostering the widespread adoption of blockchain technology.

Virtualization was proposed by core members of Cycle Network in 2019, and by the end of 2022, they commenced the development of Cycle Network. In 2023, Placeholder also mentioned the significant importance of virtual rollups in an article, thereby validating the promising trajectory of Cycle’s research direction since 2019.

Through Verifiable State Aggregation (VSA), Cycle Network supports bridgeless cross-chain liquidity abstraction, enabling secure and trustless interactions across networks like Bitcoin and EVM-compatible blockchains. This infrastructure is a game-changer in the blockchain space, making cross-chain decentralized applications (dApps) easier to develop while maintaining security and verifiability across chains.

As Chain Virtualization matures, it can be likened to the development of cloud infrastructure on the traditional internet. Just as cloud technology abstracts the complexities of physical server management, paving the way for a massive surge in internet applications, Chain Virtualization will accelerate the arrival of true Web3-native universal programmability, opening the door to the next wave of dapp innovation growth and mass adoption.

5. Chain Abstraction Frontier Example

I chose the following projects as examples to further illustrate the significance of chain abstraction. Each of them is a representative of their technology approach.

5.1 Intent

5.1.1 Everclear: Making Intent Solver More Efficient and Decentralized

Tech / Product Features

As mentioned above, In the Intent model, users specify the desired outcome, and solvers (fillers, relayers) fulfill the intent and get paid. In this process, most operations rely on third-party execution, with solvers playing a crucial role. However, currently many solvers are still centralized.

Everclear has proposed a solution from the perspective of decentralized solvers, aiming to reduce reliance on centralized entities and achieve a more decentralized process for fulfilling intents.

Everclear focuses on the problems emerged from Intent model such as inefficient rebalancing. To eliminate this ineffective cross-chain overhead, Everclear proposes a clearing layer where intents with opposite directions can be netted so that the cost of rebalancing can be socialized and reduced.

Here is its architecture and the steps for a solver to fill an intent:

• Create Intent message: users generate intents and the Intent messages are dispatched periodically from the source chain to the Hub Domain using the transport layer (Hyperlane)
• Auction: In the Hub domain on Everclear Rollup, intents that can be matched become deposits while intents that cannot be matched become invoices. The invoices will join a Dutch Auction where they will be discounted (up to a max threshold) until it is purchased and cleared
• Fill message: When a solver fills an intent, the Fill message will be sent from Target Domain to the Hub Domain also using the transport layer (Hyperlane)
• Settlement message: when both the Intent and Fill messages arrive in the Hub Domain, the Settlement message will be sent from Everclear Rollup to Target Domain. The solver gets paid.

Stakeholders

About product:

• Intent-based dApp who want to increase the efficiency of rebalancing
• Intent creators and intent solvers

About Infrastructure:

• Everclear is an Arbitrum orbit L2 launched with Gelato Network. It uses Hyperlane as transport layer and EigenDA for data availability

Roadmap

• 2017 Connext was founded
• 2024/3 Connext was renamed Everclear; Everclear Testnet
• 2024/9 Everclear Mainnet. What’s next:
• Rebalancing: Solvers, market makers, arbitrageurs, and intent-based bridges can now tap into the Clearing Layer for greater efficiency and reduced rebalancing costs.
• Token Model: The vbNEXT model aims to incentivize productive clearing behavior on underutilized pathways.
• About Connext: With Everclear live, the liquidity-based Connext Amarok system will be phased out. Routers can transition to one of the bridging partners, who will leverage Everclear’s infrastructure.

5.1.2 Particle Network: User-friendly Universal Account

Tech / Product Features

To address the problems of incomposibility of cross-chain assets and the high entry barrier due to complicated user interfaces, Particle Network has been dedicated to Wallet Abstraction since 2022 and expanded to chain abstraction early this year, according to blog record.

1. Wallet Abstraction

The first stage of Particle Network focused on wallet abstraction, which lowers the entry barrier of Web3 for Web2 users. Smart Wallet as a Service (WaaS) has the following features:

• Embedded Wallet: The wallet and hence the actions of authorising transactions and signatures are directly embedded in the application so that users don’t bother moving to a third wallet
• Social Login: In addition to web3 wallet, users can also log in using web2 social accounts such as Google, Apple, X account and email
• Integration with Account Abstraction (AA): Developers can add AA to their dApp, thus support smarter functions like gas sponsorship and batch transactions

2. Chain Abstraction

Particle Network expanded to chain abstraction by introducing the Modular Layer 1 in 2024/3 and Universal Account in 2024/7.

At the application level, Universal Account has two highlights:

• Universal Accounts: The slogan summarizes very concisely, “One account, one balance, any chain”
• Universal Gas: e.g. Pay $ETH as the gas on Particle testnet

However, the necessary condition for these two features is Universal Liquidity. Particle Network achieves Universal Liquidity through a “Swap and Release” design:

• Swap: When a user performs a cross-chain transaction, their UA interacts with native DEX to swap the existing tokens for an intermediary token e.g. $USDT) accepted by Liquidity Providers (LPs)
• Release: LPs receive these assets on their source chains, deduct a small fee, and then release the equivalent amount of the necessary assets at the destination chain. It is analogous to the solver in the intent model.

Stakeholders

About product:

• Apps that need an easier approach for Web3 newbies to log in, mainly consumer-facing apps like games and social app
• Network of liquidity providers (Despite its significant role in Universal Liquidity, there is a lack of information about the value distribution and source of the LP. More information is needed)

About Infrastructure:

• Data Availability Partner: Near, Avail, Celestia
• Account Abstraction: Biconomy

Roadmap

• 2022 Particle Network was founded
• 2024Q1 Upgraded from wallet abstraction to chain abstraction and introduced Particle Layer 1
• 2024Q3 Introduced Universal Account

5.2 Virtualization

5.2.1 Polymer: Bring Cosmos IBC to Ethereum

Tech / Product Features

With the vision of becoming a port city among blockchains, Polymer is designed to introduce Cosmos IBC to Ethereum to enhance its interoperability. However, Ethereum doesn’t speak IBC. Thus Polymer proposed the solution of Virtual IBC.

Natively, in the IBC framework, there are 4 steps in relaying a packet (data)：

• Pass: a packet with data is passed to a channel
• Update: the relayer fetches the latest chain A state and updates with chain A client in chain B
• Relay: the relayer relays the packet to chain B
• Verify: chain B verifies the packet against its view of the state of chain A

However, Ethereum or its Layer 2 does not speak IBC, so can not adopt this design. Instead, it can outsource the transport task (IBC-related overhead) to Polymer. Polymer solves this by its magic wand, Virtual IBC, which consists of:

• vIBC Core on Layer 2

This is a smart contract implementation of IBC handler. It acts like an IBC post office, handling cross-chain messages, so that they can be understood by Layer 2.

• vIBC Relayer

It establishes communication between Layer 2 and Polymer Hub. Like a “bilingual” post man who can speak both IBC and smart contract

• vIBC Modules on Polymer Hub (the Layer 2 of Polymer)

Gets the vIBC Core event on Layer2 and translates for standard IBC Module to understand. Like translating a letter in foreign language and telling local people what to do

There are 2 major differences between native IBC relaying and vIBC relaying:

Stakeholder

About product:

• Layer 2, Raas providers and abstraction protocols who need integration of IBC interop
• Relayers who want to get awarded by relaying packets

About infrastructure:

• Validation service providers: Lagrange, Witnesschain, and similar services can be integrated with the Polymer Hub, to provide developers with different verification schemes that can optimize their use-case.

Roadmap

• 2021 Polymer was founded
• 2024/3 Launched testnet

5.2.2 Cycle Network: Virtualization

Tech / Product Features

To fundamentally achieve virtualization (definition in section 4.2) across chains, it is crucial to secure verifiable and trustless aggregation of states across different chains which may have incompatible definitions of finality.

Cycle Network presents an omni state solution based on Verifiable State Aggregation (VSA) and Omni State Channel Indexer (OSCI). From the perspective of layered blockchain architecture, the framework of Cycle can be represented as the Security Layer, the Extended Layers, and Cycle Layer.

• Security Layer

This layer inherits security and stability from Ethereum. The consensus mechanism guarantees state security so that two nodes will not present conflicting results. It also provides the finality guarantee that the transactions will be finalized within the bounded time.

• Extend Layer

Extend layer consists of the source chains and destination chains, such as Layer 2 and appchains. Cycle Network establishes an endpoint on each chain, which validates that the received message constitutes a comprehensive set, so that the Omni Decentralized Indexer can achieve extended DA for those chains.

• Cycle Layer

All transactions in the Cycle Network, including the cross-chain transactions across Security Layer and Extended Layers, as well as internal transactions within Cycle Layer, collectively generate the aggregate Cycle state. The root state of Cycle is generated by a zkEVM, which is submitted to chains on Extend Layer for validation.

The core module in this design is the VSA via OSCI. The following diagram depicts the state machine transition as the cycle network continuously increases its extended layers.

• State Synchronization

As shown by the vertical arrows, the chains in Extend Layer will have their states updated to Cycle Layer. The horizontal arrows from left to right within Cycle indicate ongoing block production. Each block in Cycle Layer is also synchronized to Ethereum mainnet for verification and finalization.

• Cycle State Update

When a new chain joins the Extend Layer, as shown below, its transaction (white tx) will join those transactions from other chains (yellow and red tx) to be handled by the OSCI together, which leads to the state update in Cycle VM (green). As long as the transaction arrangement is determined, the final state is determined. Because the necessary data to reconstruct Cycle is available, every third-party can verify every state that is finalized on Cycle.

Thanks to the verifiable and trustless design of Cycle Layer, Chain Virtualization is seamlessly achieved through the Rollin and Rollout interfaces, which takes only 30 minutes for developers to integrate. This streamlined process not only enhances development efficiency but also offers bridgeless access to comprehensive cross-chain liquidity, empowering developers with unparalleled capabilities in their projects. Furthermore, the imminent release of the Cycle Application SDK will extend support to a broader array of assets and offer direct access for implementing specific use cases. This advancement will cater to a variety of customized requirements, tailoring solutions to meet specific use cases and development environments effectively.

Stakeholders

About product:

• Layer1/Layer2 that intent to increase the number of addressable users for long-term ecosystem expansion
• Developers who want to significantly increase development efficiency by virtualization
• Dapps who need access to all-chain liquidity
• Assets that are looking for use cases across chains

About infrastructure:

• Polygon zkEVM to enable Ethereum scalability as well as better performance and security by ZK proofs

Roadmap

• 2022 Cycle Network was founded
• 2023/3 First demo worked
• 2024/2 The first testnet StarFish and the first product PiggyBank were launched
• 2024/4 Connect to BTC Testnet
• 2024/5 PiggyBank V2 was launched
• 2024/6 The first TG mini app was launched with 200,000+ participants in one week
• 2024/7 The second testnets Jellyfish and CuttleFish were launched; the Alpha mainnet was launched
• 2024Q4 The beta mainnet is coming soon
• Up to now, there have been 777k+ transactions on Cycle Network, with 1.57m+ connected wallets, 300k+ users and 80+ partners. As the first all-chain asset management platform on Cycle Network, PiggyBank has witnessed the issuance of 250k+ assets.

6. Uniswap to Unichain: Rollup-based Cross-chain as the Future

From Uniswap v1 to v4, to UniswapX and Unichain, the path of Uniswap Labs is a perfect example of the evolution mentioned above. Over the 6 years, it follows a consistent rule: Spot the Bottle Neck for DeFi, and Solve it.

When analyzing the history of Uniswap shown above, the following features are noteworthy:

• Three Era from DEX to Appchain

As the mission changes, versions can be categorized into three eras. The DEX era marked the foundation of DeFi, the intent era showed the experiment to improve UX, while the Defi Chain era indicates that rollup-based cross-chain solution may be the most promising approach to trigger the future of DeFi.

• Inspire a troop of similar projects

Each new version is usually followed by many similar projects inspired by its solution, not only within Ethereum ecosystem but also DeFi in other Layer 1. Examples are AMM in v1, concentrated liquidity in v3, netting transaction in v4, and intent model in UniswapX.

• Target chain abstraction as the trigger to next-gen of DeFi

While ensuring decentralization and seamless UX, Uniswap embraces chain abstraction as the next step and announces Unichain as the new strategy to solve liquidity fragmentation.

With the same ideology as Chain Virtualization, this choice further proves the feasibility and reliability of Chain Virtualization to support future innovations in Web3 and become the home for future DeFi.

Link of Hayden’s post: https://x.com/haydenzadams/status/1844794529658097899?s=46

Cycle Network has been dedicated to Chain Virtualization for two years, with the aim of making developers in all chains accessible to Chain Virtualization with a unified interface without migrating to other chains. The intricacies of handling multiple blockchain networks have been simplified into the Rollin and Rollout interfaces, which can be seamlessly integrated within 30 minutes, granting projects access to cross-chain liquidity while remaining on their original blockchain.

7. Conclusion

In conclusion, the journey of Chain Abstraction from CEX inspiration to Virtualization marks a crucial advancement in blockchain technology. This journey, inspired by CEX, encompassing DEX + Bridge, and intent models, has culminated in Chain Virtualization which abstracts complexities and empowers developers and users through a unified interface. The evolutionary transition from Uniswap to Unichain also emphasizes that virtualization stands as the solution to the existing bottleneck in DeFi, paving the way for the establishment of a Home for DeFi.

After two years of diligent effort in Chain Virtualization, Cycle Network’s infrastructure will drive the blockchain industry into the era of super apps, where cross-chain dApps can scale seamlessly across different blockchain platforms. This innovation will spark an unprecedented level of innovation and growth, just as the cloud did for traditional internet applications, positioning Cycle Network as a foundational player in the decentralized future.

8. Reference

https://dl.acm.org/doi/pdf/10.1145/3319535.3355503

https://docs.everclear.org/

https://docs.unichain.org/

https://developers.particle.network/landing/introduction

https://en.wikipedia.org/wiki/Virtualization

https://vitalik.eth.limo/general/2024/09/28/alignment.html

https://www.cyclenetwork.io/whitepaper.pdf

https://www.placeholder.vc/blog/2023/11/22/virtual-blockchains

https://www.polymerlabs.org/blog/introducing-the-polymer-hub-a-rollup-built-for-interoperability

https://www.polymerlabs.org/polymer-whitepaper-pdf

Unbounded Web3 Campaign: Cycle & PumpBTC Genesis Boxes Mint is LIVE! Here is a tutorial on how to mint Cycle & PumpBTC Genesis Boxes.

Time: Sep.23 — Sep.27

Quantity: Limited to 5,000 boxes

Eligible: Hold the whitelist pass from the campaign’s first phase.

Check here to join.

1. Start by connect your wallet.

2. Request Testnet Tokens.

3. Click “Mint”.

4. The box will display a code upon successful minting.

Q&A：

1. Will this affect my real assets?
Answer: All operations are conducted on the testnet, so your real assets will not be affected.

2. Do I need to prepare testnet tokens myself?
Answer: All the testnet tokens will provided by Cycle.

3. What is the purpose of the Cycle & PumpBTC Genesis Boxes?
Answer: It’s the crucial credentials for Cycle and PumpBTC future airdrops.

4. What if the box is stuck on “Loading”?
Answer: Only the boxes that display a code are successfully minted.

Unbounded Web3 Campaign: Cycle & Artela Genesis Boxes Mint is LIVE! Here is a tutorial on how to mint Cycle & Artela Genesis Boxes.

Time: Sep.9, 18:00 — Sep.13, 24:00 (UTC+8)

Quantity: Limited to 3,000 boxes

Eligible: Hold the whitelist pass from the campaign’s first phase.

Check here to join.

1. Start by connect your wallet.

2. Request Testnet Tokens.

3. Click “Mint”.

4. The box will display a code upon successful minting.

Q&A：

1. Will this affect my real assets?
Answer: All operations are conducted on the testnet, so your real assets will not be affected.

2. Do I need to prepare testnet tokens myself?
Answer: All the testnet tokens will provided by Cycle.

3. What is the purpose of the Cycle & Artela Genesis Boxes?
Answer: It’s the crucial credentials for Cycle and Artela future airdrops.

4. What if the box is stuck on “Loading”?
Answer: Only the boxes that display a code are successfully minted.

Cycle and Berachain Honey Boxes Mint is LIVE! Here is a tutorial on how to mint Cycle & Berachain Honey Boxes.

Time: Aug.19, 17:00 — Aug.25, 24:00 (UTC+8)

Quantity: Limited to 5,000 boxes

Eligible: Hold the whitelist pass from the campaign’s first phase.

Check here.

1. Start by connect your wallet.

2. Click here and select the Binance Smart Chain Testnet.

3. Request Testnet Tokens.

4. Click “Mint”.

5. The box will display a code upon successful minting.

Q&A：

1. Will this affect my real assets?
Answer: All operations are conducted on the testnet, so your real assets will not be affected.

2. Do I need to prepare testnet tokens myself?
Answer: All the testnet tokens will provided by Cycle.

3. What is the purpose of the Cycle & Berachain Honey Boxes?
Answer: It’s the crucial credentials for Cycle future airdrops.

4. What if the box is stuck on “Loading”?
Answer: Only the boxes that display a code are successfully minted.

As a Bridgeless aggregate liquidity network, Cycle Network has been dedicated to breaking down the siloes between different blockchains. Our mission is to provide liquidity across the entire blockchain ecosystem — whether Layer 1s, Layer 2s, EVMs, or non-EVM chains.

Now, we’re really excited to collab with Berachain to launch an NFT minting campaign on the testnet.

This campaign will support users in minting Berachain testnet assets directly from various blockchains.

Users who complete this minting experience will receive the exclusive “Cycle’s Berachain Honey Boxes” The boxes will unlock fantastic rewards from the Cycle Network ecosystem.

Total:

5,000 units (Whitelist Only)

Timeline:

Phase1 (Aug.12 — Aug.18) Whitelist Campaign (raffle)

Phase2 (Aug.19 — Aug.25) Mint Honey Box (Whitelist Only)

How to participate:

1. Join Cycle’s points campaign for whitelist. Click here to join.

2. Whitelist holders can mint 「Cycle & Berachain Honey Boxes」 from EVM chains to Berachain testnet.

About:

Cycle: Cycle Network is a Bridgeless aggregate liquidity network for all blockchains, based on aggregate sequencer and chain abstraction. Cycle utilizes multichain zk-rollup technology to expand the traditional one-to-one native bridge between L1 and L2 into a full connection that supports all chains. This enables users to achieve Bridgeless, full-chain interoperability on Cycle.

Twitter: https://x.com/cyclenetwork_GO

Telegram: https://t.me/cycle_network

Website: https://www.cyclenetwork.io/

Point System: https://points.cyclenetwork.io/airdrop

Piggy Bank: https://www.piggy-bank.finance/piggy-box

Berachain: Berachain is an EVM-identical L1 turning liquidity into security, powered by Proof of Liquidity.

Website: https://www.berachain.com/

Twitter: https://x.com/Berachain

FAQ:

「1」 Only whitelist users can mint the Honey Boxes? How to get the whitelist?
Answer: Yes, only whiteliste users can mint the Honey Boxes. The whitelist will be obtained through a raffle in the campaign’s first phase. Those who receive the whitelist can then participate in the second phase to mint the Honey Boxes.

「2」What’s the use case for the Honey Boxes?
Answer: The Honey Box owners will receive fantastic rewards from the Cycle Network ecosystem.

「3」Is there any cost to participate in this event?
Answer: No, there’s no cost. All the test tokens will be provided by Cycle Network, so users don’t need to spend any funds.

As blockchain technology continues to evolve, an increasing number of blockchain platforms have emerged, creating an ecosystem where multiple chains coexist. These platforms focus on different application scenarios, providing users with a wealth of choices. Unlike Bitcoin’s Proof of Work (PoW) consensus mechanism, the Proof of Stake (PoS) model significantly reduces the overhead for launching and maintaining networks, thus encouraging a surge in innovative projects. However, this diversity also brings about liquidity and usage fragmentation, greatly affecting user experience. Moreover, these innovative projects often pursue their maximum benefits, adopting different economic incentive measures, leading to a fragmented situation. Developers, influenced by these economic incentives, are more inclined to create new chains to obtain higher value rather than develop on existing ones, exacerbating liquidity and user experience fragmentation.

In contrast to web2, where applications switch seamlessly, web3 operations often rely on insecure or centralized tools for cross-chain interactions. This dependency exists because web3 lacks a unified protocol to manage these interactions securely and efficiently. In web2, applications communicate over standardized protocols like HTTP, enabling seamless and secure data exchanges across platforms. Web3, however, is made up of multiple isolated blockchains, each with its own protocols and rules, necessitating the use of bridges or centralized exchanges to enable cross-chain interactions.

These cross-chain bridges involve locking assets on the original chain and generating proof, then minting equivalent tokens or creating new assets representing the original ones on the target chain. While this mechanism facilitates asset flow across blockchains, it also introduces complex operational processes and potential security risks, with significant losses reported annually due to cross-chain bridge attacks. The reliance on these centralized tools or insecure bridges increases the risk of attacks and security breaches. Furthermore, the complex nature of these operations discourages new users from adopting web3 technologies and even pushes existing users back to centralized off-chain applications due to their convenience and perceived security.

Seamless Blockchain Interactions Through Chain Abstraction

To address these issues, the concept of chain abstraction has been introduced. Chain abstraction aims to simplify interactions between users and different blockchains by providing unified interfaces and tools, enhancing interoperability and user experiences.

When Cycle Network was founded in October 2022, the concept of chain abstraction was not yet defined. Initially, our goal was to enhance user experience. Over time, we realized that the main reason decentralized exchanges (DEX) haven’t surpassed centralized exchanges (CEX) is due to the ease of use and trust established by CEX platforms over time. Despite being the safest algorithms, decentralized mechanisms have not seen widespread adoption due to the complex operations required in web3. Realizing this, we found ourselves working towards the principles of chain abstraction even before the term was officially coined.

As the concept of chain abstraction has emerged, more and more projects are recognizing its potential and exploring the opportunities it offers. Different projects have various innovations in their chain abstraction solutions. For instance, some projects offer a universal account system that allows users to access and operate multiple blockchains through a single account, while others utilize cross-chain bridge aggregators to aggregate multiple cross-chain bridge protocols. At Cycle Network, we adopt a decentralized, bridgeless hub solution that seamlessly interconnects all blockchains. With the proliferation of Layer 2 solutions and numerous chains, this innovation ensures that end-users and developers are no longer isolated or fragmented. It enables everyone to share liquidity, pay gas fees, and sign transactions without the need for traditional bridges.

We will explore the impact of Cycle Network’s integration on end users and developers — two of the most crucial participants in the Web3 ecosystem.

Our Decentralized Bridgeless Transaction Flow

Cycle Network’s core technology leverages a multi-layered architecture based on Verifiable State Aggregation (VSA), combining the Security Layer, Extend Layers, and Cycle Layer to facilitate seamless cross-chain transactions.

Our system uses zk-rollup technology to aggregate transactions into batches. These batches are then processed by zk-rollup nodes, which generate zk proofs to validate the transactions without exposing their details. A Verifiable Aggregate Sequencer sequences and packages these batches. Following this, the Omni State Channel Indexer (OSCI) performs decentralized indexing and ensures the availability and verifiability of each transaction’s state. Verified transactions are recorded on the Cycle Layer, enabling direct cross-chain data operations via a single SDK interface. Finally, updates to the Cycle Layer are broadcast back to the respective chains, reflecting asset transfers or smart contract executions and ensuring that all nodes in the network have consistent and up-to-date information. This approach not only boosts security and integrity but also lowers transaction fees and supports seamless interoperability across various blockchain architectures, including EVM and non-EVM chains, as well as Layer 2 solutions.

Practical Uses of Our Bridgeless Solution

The decentralized, bridgeless hub solution that seamlessly interconnects all blockchains, eliminating the need for intermediary steps and reducing potential security risks. This approach provides substantial benefits for both new and existing blockchain platforms, as well as end-users and developers.

Piggy Bank is a pioneering all-chain asset management platform that leverages Cycle Network to deliver a revolutionary asset management experience. Designed to be a flagship product, Piggy Bank simplifies blockchain usage and serves as an accessible crypto asset management tool for everyone. It offers a bridgeless experience and harnesses Cycle’s all-chain liquidity sharing solution to automate and optimize investment strategies across multiple chains.

For End Users

1. All-Chain Bridgeless UX

Piggy Bank eliminates the complexities of different chains for both Web3 and Web2 users. Managing, trading, investing, and minting assets is entirely bridgeless. Users can handle their crypto assets on Piggy Bank as effortlessly as they manage traditional financial products, without needing to understand the nuances of various chains, gas tokens, or third-party bridges.

2. High-Yield Platform Aggregating All-Chain DeFi Protocols

Utilizing Cycle Network, Piggy Bank aggregates DeFi protocols from any network (L1, EVM, Non-EVM, BTC L2, etc.). AI-driven analysis evaluates security, yield, and stability, recommending personalized investment strategies. Users can select investment options with a single click, benefiting from superior returns due to aggregated and compounded yields across chains.

3. Wide Range of Asset Classes

Piggy Bank supports a diverse array of assets by integrating with Cycle’s all-chain DeFi Hub. Users can manage physical assets like real estate and artwork, access various financial derivatives (options, futures, leveraged tokens), and engage in asset borrowing, lending, and liquidity mining across all chains.

For Developers

1. Shared Liquidity Pool

Piggy Bank’s integration with Cycle Liquidity Aggregator consolidates fragmented liquidity resources into a shared pool. This approach enhances overall liquidity and capital efficiency, maximizing returns and simplifying liquidity management.

2. Secure and Low-Cost

Cycle Network provides Piggy Bank with a unified interface and protocol, streamlining blockchain operations and integrations. The shared liquidity pool reduces the risk associated with single-chain funding and minimizes potential for fraud.

Example: Bridgeless Mint NFT

Piggy Bank’s highly anticipated Piggy Box event has seen over 246K accounts, with nearly 190K assets minted in a bridgeless manner. Users from any chain can mint assets with a single click without leaving their native chain. Transactions, gas fees, and signatures are handled seamlessly on the user’s preferred chain, while receiving assets on the project’s issuing chain.

BEVM Partnership: In collaboration with BEVM, the first fully decentralized EVM-compatible Bitcoin L2 that uses BTC as Gas, Cycle Network’s bridgeless solution facilitated the minting of NFTs directly from Piggy Bank. This partnership attracted 40,000 new users in just three days, who were able to mint BEVM Genesis Boxes seamlessly without dealing with cross-chain operations or gas fees. The ease of use and efficiency provided by Piggy Bank highlighted the practical advantages of our bridgeless technology in real-world applications.

IoTeX Collaboration: Similarly, our partnership with IoTeX, the leading modular infrastructure for DePIN projects, showcased the power of Cycle Network’s bridgeless solution in a recent NFT minting campaign on the testnet. This campaign supported users in minting IoTeX testnet assets directly from various blockchains. Users who completed this minting experience received exclusive Genesis Boxes, unlocking fantastic rewards from the Cycle Network ecosystem. Over two days, 5,000 NFTs were minted through Piggy Bank, allowing users from any chain to participate without the complexities of cross-chain interactions.

Building on the success of these collaborations, our decentralized bridgeless information transfer has successfully served multiple new altchains. Cycle Network helps applications break free from the limitations of specific chains, enabling seamless operation across multiple blockchains. This capability is crucial for developers seeking to expand their reach and user base.

At the moment, the bridgeless SDK is open to any EVM chains and DApps, allowing any developer to provide users with a bridgeless experience without any gas limitations.

Conclusion

Cycle Network’s focus on chain abstraction through a bridgeless cross-chain solution offers a streamlined, secure alternative to traditional cross-chain bridges, addressing interoperability challenges effectively. By leveraging zk-rollup technology and aggregate sequencer, Cycle Network brings a new cross-chain experience to developers and users, fulfilling a wide array of cross-chain needs. This chain abstraction-based approach effectively overcomes the complexity and fragmentation of multi-chain environments and provides strong support for widespread blockchain adoption and interoperability. As blockchain continues to advance and the multi-chain environment matures, we are committed to further developing chain abstraction and cross-chain technologies, aiming to overcome existing limitations and explore new application domains.

Cycle and IoTeX Genesis Boxes Mint is LIVE! Here is a tutorial on how to mint Cycle & IoTeX Genesis Boxes.

Time: July 22, 18:00 — July 28, 24:00 (UTC+8)

Quantity: Limited to 5,000 boxes

Eligible: Hold the whitelist pass from the campaign’s first phase.

Check here.

1. Start by connect your wallet.

2. Click “Mint” and select the Network you want to experience.

3. Request Testnet Tokens.

4. Click “Mint”.

5. The box will display a code upon successful minting.

Q&A：

1. Will this affect my real assets?
Answer: All operations are conducted on the testnet, so your real assets will not be affected.

2. Do I need to prepare testnet tokens myself?
Answer: Except for the Arbitrum testnet, which requires users to bring your own, the other networks will provide testnet tokens by Cycle.

3. What is the purpose of the Cycle & IoTeX Genesis Boxes?
Answer: It’s the crucial credentials for Cycle future airdrops.

4. What if the box is stuck on “Loading”?
Answer: Only the boxes that display a code are successfully minted.