Introducing deBridge to LFG

Jupiter DAO LFG Introductions
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deBridge is a @JupiterExchange LFG launchpad candidate.

Where did deBridge come from, what are we all about, and how did this happen?

Well, like many founding journeys, our story began because we wanted to solve a problem for ourselves.

When Binance Smart Chain (now BNB Chain) launched in 2020, me and my future co-founder were running some arb strategies between Ethereum and BSC. But the brakes came on quickly. As we became increasingly successful, and started to increase our activity and size, CEXes (which we were using for liquidity management) started blocking our accounts without explanation. The seed was sowed right there and then — it became obvious the market deserved and needed a decentralized and unstoppable solution for cross-chain liquidity and data transfers. We did too.

With the design concept in mind, the 2021 Chainlink Global hackathon triggered us to build a proof-of-concept for deBridge, winning us a first place among 150 teams worldwide, and launched us on our mission of creating the most secure, efficient, and scalable foundation for cross-chain infrastructure.

Fast-forward nearly 4 years to today, deBridge is known for its best-in-class security, having 100% uptime and 0 discovered vulnerabilities, high speed and capital-efficiency — why is this?

0-TVL Liquidity Model

At deBridge, we believe that liquidity pools have been holding back the potential of cross-chain. That’s why we pioneered a new 0-TVL model based on cross-chain intents, enabling the fastest and most secure bridging experience for users, without compromises on scalability and capital-efficiency.

Our 0-TVL model is key because:

  1. Minimal TVL At Risk — No Liquidity Pools means that there is very little TVL at risk of infinite-mints or other smart-contract vulnerabilities, like the Wormhole Exploit in the past.
  2. Reduced Reliance on Financing – We didn’t need as much VC investments to get going, and onboarded smaller investors who shared our vision and drive. This also allows us to be more decentralized to users instead of VCs and institutions.
  3. Strong Governance – deBridge is the only candidate that has a chance to establish a truly decentralized DAO — without outsized dominance from venture funds, which is a key in cross-chain infrastructure.

deBridge is the first cross-chain infrastructure (we know of) to break even, with protocol profits far exceeding all costs. As of today — the protocol generates ~$23k of daily profits and is just about to cross $1M accumulated revenue in the treasury, which comes from three sources:

  • deBridge messaging fees
  • DLN trading fees,
  • IaaS (interoperability-as-a-service) subscription fees

All of which are now accrued towards the treasury of the future DAO, giving the future token-holders a treasury and a revenue-generating protocol to govern over.

Growth

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Why Jupiter LFG?

  1. While being chain-agnostic, we’re bullish on Solana and have always been. That’s why we’ve been building on Solana from the very start of deBridge and kept going through hard and good times non-stop:

https://twitter.com/AlexSmirnov__/status/1723000170227400750

  1. High-performance infrastructure enables higher capital efficiency with lower capital requirements — this is true both of deBridge, which can process tens or hundreds of millions of dollars in volume each day without any statically locked liquidity, and it’s also true for Solana — which despite having lower TVL processes larger trading volumes than most other ecosystems. That means it’s a natural fit to issue our token on Solana.

  2. Solana volumes are taking a big part of our traction. We have seen ~$300M+ in volume bridged through Solana and we believe this traction will continue growing as more builders and projects are entering Solana.

Based on Syndica’s analysis, deBridge is the fastest-growing bridging solution on Solana:

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  1. We believe in the Solana ecosystem long-term and think that the Jupiter team has built a very important product that will continue to play a crucial role, with LFG being a tool that reinforces synergies with products that extend each other and help grow the pie for everyone.

We started to work closely with the Jupiter team in the early days of our project, and their product was the first we integrated with Solana. That made all deBridge users implicitly use Jupiter while bridging To/From Solana, and meant they were eligible to receive 4.6M JUP in the first airdrop distribution:

https://twitter.com/deBridgeFinance/status/1751984553844195731

  1. deBridge was integrated into the Jupiter Bridge Comparator and quickly became a fan favorite. Jupiter users have generated $138M+ of total volume and 12% of all fees accrued into the deBridge treasury, which will mean that both J.U.P DAO and Jupiter users become participants of the deBridge future DAO:

The deBridge points campaign will be launched in the coming weeks with Season 1 being live for a few months culminating in the TGE event. Points campaign will be the last mile to define the first wave of future DAO participants among our users and projects integrating deBridge infrastructure.

To sum up, we believe that there are many, many synergies between J.U.P. and the future deBridge DAO that we have yet to unveil, as well as lots of product synergies that we have yet to explore and implement.

Leadership Team

Alex Smirnov: CEO and Co-founder

Alex is a mathematician, researcher, developer, and blockchain enthusiast. He was the founder of Phenom – a research and development company in the area of blockchain technologies. Alex has led teams that have won numerous hackathons and developed various blockchain solutions and dApps. Alex came out of academia where he was doing his Ph.D. in mechanics and mathematics. Today, he and the team are full-time in the development of deBridge, where he’s the project lead focusing on protocol design, product management, partnerships, and operations.

Twitter: https://twitter.com/AlexSmirnov__
LinkedIn: Alex Smirnov - deBridge | LinkedIn

Yaroslav Artyukh: CTO and Co-founder

Yaroslav has ten years of experience in software development, five of which were involved in the development of fintech and blockchain solutions which is crucial for this type of role. Yaroslav is the project’s CTO and leads the development of all components for the deBridge protocol.

Github: artyukh (Yaroslav Artyukh) · GitHub

Alexander Ghahremany: COO

Alexander has extensive marketing and operations experience from various startups in both traditional and crypto including Forte Digital, FundingPartner, Wanchain, and DeepDAO. He was an integral part of FundingPartner’s journey to become one of Norway’s leading fintech companies and led marketing for Forte Digital – the fastest-growing consulting firm in Norway. Alexander has been in the blockchain space since 2016 and involved in several blockchain projects, which are beneficial to the marketing and operation side of deBridge.

Twitter: https://twitter.com/alexghahremany

LinkedIn: Alexander Hagen Ghahremany - deBridge | LinkedIn

Jonnie Emsley: CMO

Jonnie has over seven years of experience helping Web3 companies establish and grow their brands. He has significant experience in brand identity, product marketing, and communication, and was one of the earliest employees at high-growth companies including CryptoSlate and MoonPay. At deBridge, Jonnie is responsible for creating and accelerating the company’s marketing strategy and developing a strong brand with consistent messaging.

Twitter: https://twitter.com/EmsleyJonnie

LinkedIn: https://www.linkedin.com/in/jonnie-emsley-03411288

Gal Stern: Head of Growth

Gal has been working in the Web3 space since 2017, starting his career managing and growing BEN Australia to a nationwide organization from ground zero. He later joined various leading Fintech and Blockchain startups such as Lumi (fastest growing SME lending startup in Australia) and GDA Capital (leading digital asset investment and advisory firm) to streamline and scale their BD operations, laying strong foundations for growth. At deBridge, Gal is responsible for leading business development activities and ensuring the ecosystem is developing from a position of strength.

Twitter: https://twitter.com/gal_stern

LinkedIn: Gal Stern - deBridge | LinkedIn

Some of the partnerships in the Solana ecosystem:

Jupiter:

https://twitter.com/JupiterExchange/status/1691813708236829165

Solflare x Metamask

https://twitter.com/deBridgeFinance/status/1701626869244936553?s=20

Zeta integration:

https://twitter.com/AlexSmirnov__/status/1755944836346081588?s=20

Helius:

https://twitter.com/deBridgeFinance/status/1714627542269743607

Neon:

https://twitter.com/deBridgeFinance/status/1755230101279752609

Bideye:

https://twitter.com/deBridgeFinance/status/1725514225668493744

We will be available here on this forum post, and in Discord to answer any questions. You can also reach out to us on

Twitter: https://twitter.com/deBridgeFinance

Telegram: Telegram: Contact @deBridge

Discord: deBridge

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Impressive growth stats, and appreciate that you guys worked with the Jupiter Bridge Comparator already. Imo, most bridges have a big challenge with the UX, how did you meet this challenge?

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This is an extremely strong project and natural partner (further to the Bridge Comparator) but also given the growth of cross-chain Defi and other activities. There is a critical need for supporting cross-chain interoperability and deBridge has already been recognized via the Chainlink Global Hackathon and a ground-breaking protocol. I very strongly support deBridge being added to the LFG. I am also excited at the potential DAO partnerships and links that will naturally occur between the Jupiter DAO as well as the deBridge DAO.

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Hey @alex_smirnov, thanks for being interested in Jupiter’s LFG process! Loved reading this proposal.

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Impressive stats! I love projects with profitable products, so you don’t really need to issue tokens to make money.

Could you give us more information about the token (utility, tokenomics)?

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We’ve worked on trying to solve the bridging issue to connect liquidity across chain. After we’ve understood how deBridge works, we quickly realized it was the best solution to the bridging problem.

The growth stats only affirm that the team can pull it off.

Best of luck!

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Thanks for taking the time to read through — this is a great question! For background, at deBridge, we believe the bridging experience should feel as quick, intuitive, and frictionless as making a trade on a centralized exchange. This means UX should be:

  • Fast — settled virtually instantly
  • Intuitive — in one transaction, without needing gas on the destination chain etc.
  • Predictable, capital-efficient, and reliable — you know exactly what you’ll get on the destination chain, no wrapped assets to mess around with, no slippage

With the classical bridging approach that uses liquidity pools, we realized it’s not possible to achieve any of this. That led us to develop a new 0-TVL/Intents-based model that can settle trades natively and instantly with guaranteed rates (no exposure to slippage or MEV). It took a TON of leg work to get our new model to the point it is today, but we persisted as we knew that the UX improvements it brought to the market were 1000% worth it — where any size bridge/cross-chain transfer can be settled basically instantly with a frictionless experience.

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I have been using DeBridge for a while. it is pretty easy to use and user-friendly.

Glad to see DeBridge team in LFG.

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Thanks Richard, we’re stoked to be working with you!

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Glad to have you with us!

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Thanks for taking the time to read it Soju!

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I think Debridge is best opinion for LFG then others.

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100% — economic sustainability is central to our protocol design and approach at deBridge, we think this is an area that is not thought about enough in the cross-chain space.

The main utility of the token is participation in governance. That incorporates:

  • Governance of all of our smart contracts and adjustment of protocol parameters
  • Voting for active validators of the deBridge messaging layer
  • Management of the protocol’s treasury

We’ll share more information on tokenomics in a separate post after we launch points.

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@alex_smirnov

Thanks for the big introduction. Appreciate it.

How do you see the midterm to longterm goal for deBridge? How could Jup and deBridge grow together?

Epic candidate for the LFG plattform.

Cheers

Perry_Hope

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LFG! Super bullish on the progress of deBridge - the growth metrics look super promising.

Excited for the future developments and deBridge.

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What is your token utility ?

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Love this for multiple reasons, but the main one is that this platform is already working and profitable.

No chance for cash grab on this one, and any sort of raise that comes through would benefit deBridge for long-term runway, but would probably benefit $JUP holders and Jupiter as much or more than it benefits deBridge.

Where do I sign up? :grin:

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Two questions.

  1. If the protocol doesn’t use LPs and doesn’t rely on TVL. Then what do you use?
  2. If there is no need of capital, why issuing a token? What will be the token goal/value?
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Impressive numbers!

I tried from the “ Solflare x Metamask “ partnership and know you off course from the Jupiter Bridge Comparator. Smooth bridge experience.

But I’m a full Solana maxi, so no way I will compete with the points meta :wink:

1 Like
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Great proposal, have been using deBridge for awhile now and can say it’s the best bridge UX in crypto by far!

Considering your project is already profitable without needing token incentives, out performs against competitors in the ecosystem, and an already existing integration into the Jupiter platform, this makes to be a great opportunity for our community. Hope to see this launch soon!

LFG