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Rainbow Bridge

Rainbow Bridge

Rainbow Bridge is a transfer tokens between Ethereum, Aurora & NEAR founded in 2021.

OverviewStructured DataIssuesContributors

Contents

rainbowbridge.app
Is a
Organization
Organization
Cryptocurrency
Cryptocurrency
Company
Company

Company attributes

Industry
Decentralized application (dApp)
Decentralized application (dApp)
Decentralized Finance
Decentralized Finance
Financial technology
Financial technology
Blockchain and cryptocurrency
Blockchain and cryptocurrency
Finance
Finance
Technology
Technology
Cryptocurrency
Cryptocurrency
...
B2X
B2B2C
B2B2C
CEO
Alex Shevchenko
Alex Shevchenko
Investors
Folius Ventures
Folius Ventures
Zee Prime Capital
Zee Prime Capital
6th Man Ventures
6th Man Ventures
Alan Howard
Alan Howard
Santiago Roel Santos
Santiago Roel Santos
MetaWeb Ventures
MetaWeb Ventures
Stani Kulechov
Stani Kulechov
Libertus Capital
Libertus Capital
...
Founded Date
2021
Business Model
Commerce

Other attributes

Company Operating Status
Active
Source Code
github.com/aurora-is...bow-bridge
Written in
Go
About the Rainbow Bridge

The Rainbow Bridge is the official bridge for transferring tokens between Ethereum, NEAR and the Aurora networks. The bridge is the product of Aurora, the Ethereum-compatible scaling solution built on NEAR.

You can use the bridge to move tokens between any of the three networks. Depending on the selected direction, bridging can involve one or two transactions. Transfers to NEAR & Aurora require a single transaction, and take up to 10 minutes. Transfers to Ethereum require two transactions, and can take up to 12 hours. To learn more, check out our FAQs.

The Rainbow Bridge is unique among bridges, and we’re proud of both its user experience and its technological underpinnings. We hope you enjoy using it, and if you do, mabye consider giving us a shout out on Twitter!

Finally, we’d would love for you to join our community in Discord, and stop by to say hello!

Inside the Rainbow Bridge

The ETH ↔ NEAR Rainbow Bridge is a trustless, permissionless protocol for connecting blockchains. The bridge protocol removes the need to trust anyone except the security of the connected chains. Anyone can deploy a new bridge, use an existing bridge, or join the maintenance of an existing bridge without getting approval from anyone else.

The Rainbow Bridge allows any information that is cryptographically provable on NEAR to be usable in Ethereum contracts and vice versa — including the ability to read the state and schedule calls with callbacks on the other chain. This means a user can vote with their ETH balance in a NEAR DAO without sending a transaction on Ethereum.

The nature of the Rainbow Bridge means its fully decentralized and adaptable to any future protocol changes. For more details about the architecture of the Rainbow Bridge, read the technical deep dive here.

How the Rainbow Bridge works

The bridge is accessible and easy to use. All you need is the ETH Faucet and a MetaMask wallet.

  • Once on NEAR, transactions will confirm in 1-2 seconds and cost well under $1 in most cases.
  • Since the Bridge requires transactions on Ethereum for NEAR <> Ethereum, the following costs are expected.
  • Sending assets from Ethereum to NEAR takes about six minutes (20 blocks) and for ERC-20 costs about $10 on average.
  • Sending assets from NEAR back to Ethereum currently takes a maximum of sixteen hours (due to Ethereum finality times) and costs around $60 (due to ETH gas costs and at current ETH price). These costs and speeds will improve in the near future.

Timeline

No Timeline data yet.

Funding Rounds

Products

Acquisitions

SBIR/STTR Awards

Patents

Further Resources

Title
Author
Link
Type
Date

"Connect Ethereum Assets to the NEAR Network with Rainbow Bridge" -Tutorial Video - Ref Finance

https://www.youtube.com/watch?v=DKpjE5TPAA8

Web

September 13, 2021

Rainbow Bridge

https://rainbowbridge.app/about

Web

Rainbow Bridge

https://rainbowbridge.app/faq

Web

Rainbow Bridge | DappRadar

https://dappradar.com/near/other/rainbow-bridge

Web

Rainbow Bridge Guide (full version)

https://www.youtube.com/watch?v=zbmnITYLE-M&ab_channel=NEAR

Web

April 6, 2021

References

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