Incognito - Polygon Bridge

Incognito - Polygon bridge is the next Incognito bridge. After bridging to 11 major blockchains (Bitcoin, Ethereum, BSC, etc,…), we want to continue bringing privacy to those who hold MATIC or tokens on the Polygon network.

What problems are the bridge solving?

Open interoperability to Polygon’s tokens and dApps.

Polygon was gaining huge traction lately with massive adoption as well as rapid ecosystem development so having a bridge to it is a natural desire to expand interoperability for Incognito to wider users. Furthermore, users who hold Polygon’s tokens can benefit from the work too since they can:

  1. transfer Polygon’s tokens privately.
  2. trade for tokens anonymously, especially non-EVM tokens.
  3. interact with Polygon’s dApps anonymously, e.g., swapping anonymously on Uniswap v3 that’s launched on Polygon a few weeks ago.

Faster and cheaper Shielding/Unshielding.

Polygon is an Ethereum layer-2 blockchain - a solution for Ethereum’s scalability. It solved Ethereum’s low throughput and high transaction fees then the bridge also benefits from the improvement: shielding/unshielding transactions would be faster and cheaper as compared to its layer 1.

The following table shows the comparison of the shielding and unshielding fees between bridges at the writing time:

Gas used shielding Gas used unshielding Gas price (Gwei) Native token price ($) Shielding fee ($) Unshielding fee ($)
Ethereum 67200 262000 120 3080 25 97
BSC 58000 204000 5 462 0.14 0.47
Polygon 58000 204000 33 2.07 0.004 0.014

How it works

The Incognito - Polygon bridge mechanism is quite similar to the Incognito - Ethereum trustless bridge that also applies the locking, minting, and burning mechanisms to maintain the 1:1 ratio between the private token on Incognito and the original token on Polygon.

Polygon :arrow_right: Incognito

  • Step 1: To convert Matic/ERC20 on Polygon to private Matic/ERC20 on Incognito (pMatic/pERC20), the user simply needs to send Matic/Polygon token to the Incognito’s Polygon bridge smart contract to lock funds.
  • Step 2: After the depositing transaction has at least 35 block confirmations in the Polygon chain, user can get the deposit proof and submit it to the Incognito chain.
  • Step 3: The Incognito chain will verify the proof and extract its content to get the deposit amount and the user’s incognito address. If the proof is valid, the Incognito chain would mint the corresponding pToken with the same deposit amount to the user’s incognito address.

The process is shown in the following diagram.

Incognito :arrow_right: Polygon

  • Step 1: Conversely, to get the public MATIC/ERC20 tokens back from pMATIC/pERC20 tokens, a user only needs to burn pToken on Incognito.
  • Step 2: And then submit the burn-proof to the Incognito’s Polygon bridge smart contract.
  • Step 3: The smart contract will verify the proof and unlock MATIC/ERC20 tokens in Polygon to the user’s address if the proof is valid (the unlocking amount would be equal to the burned amount from step 1).

The process is shown in the below diagram.

:warning: Note: Please take into account that rebase token and some specific tokens which deduct transaction fee directly from the sending amount won’t be supported over the bridge.
Refer to this post for further information: Unsupported ERC20 tokens on Incognito

Conclusion

We hope that the Incognito - Polygon bridge will help Incognito expand its utility by opening new interoperability to one of the most popular Ethereum’s scaling platform like Polygon. Apart from the bridge, the team was also working on Polygon’s dApps integration to build up Incognito pApps ecosystem.
Thank you! :hugs:

Download the Incognito app and start providing liquidity for FTM :iphone:

appstore.7bf52fb9 play.d7c4cecdapk.818b2bb7

Learn about the wallet >
Join community conversation >
Provide liquidity for MATIC and earn rewards >

21 Likes

Thank you! Looking forward to swapping on Uniswap. Now onto the Solana bridge :stuck_out_tongue::stuck_out_tongue::stuck_out_tongue:

In all seriousness, expanding incognito into all these different ecosystems is powerful. People are sleeping on this when you consider the three pillars (infrastructure, apps, markets).

A number of different ways to participate.

Great work devs!

8 Likes

This is definitely a good move and I look forward to eventually using this on Incognito, but I’m hoping in the future this process will be more automated and less manual. Some of us are quite lazy… It’s me. I’m the lazy one.

If we move ETH to Incognito via Polygon will we be able to use provide or pools and treat it like pETH or will there be some differences? This would make it easier to provide liquidity for a large cap coin without having to pay a ton in transaction fees to get it on the network.

1 Like

Hey @fiend138, in the current version, pETH shielded via Ethereum bridge is different from pETH shielded via Binance Smart Chain bridge (and Polygon bridge once we finish it). This is obviously inconvenient and inefficient.

Yes, we get what you mean, it’s far better if we have a “unified pCoin” (e.g., pETH) for every currency regardless of which bridge the public coins (e.g., ETH in Ethereum or WETH from BSC) shielded from since this might help improve UX for users and mitigate Incognito exchange’s liquidity fragment situation. Also, users can use their shielded coins with any supported privacy dApps (e.g., PancakeSwap in BSC, Uniswap in Polygon, Solen in Solana, etc) in an anonymous manner and they don’t need to convert, for example, USDT (Ethereum) to USDT (BSC) if they want to swap USDT with PancakeSwap or USDT (Ethereum) to USDT (Polygon) if they want to swap USDT with Uniswap in Polygon. This is exactly what we’re working on, a proposal for the improvement will be published soon for feedback. Thanks.

6 Likes

I like that idea of unified coins. To me it makes sense. Layer 2 solutions like polygon or the lightning network are essentially moving around real ETH and BTC. On that note, are there any plans for lightning network integration in the works?

100%. Incognito is actually an extremely powerful hub, and I feel more certain about that lately after my research on the other projects.
Literally the only thing we’re missing is to transition to more decentralization, get up liquidity again, and market the hell out of this thing. It’s a powerhouse.

6 Likes

Hey @Jared, can you ask the core team whether they are reconsidering a Growth Marketing Team in the near future?

2 Likes

Thanks for the update @hiennguyen, this is awesome news.

Given the recent bad press about hacks (E.g. Solana’s Wormhole), I’m curious as to whether the code for the existing and new bridges are audited by a 3rd party?
Also does the Incognito Team offer any Bug Bounties?

I’m sure the dev team are super capable and check their code over-and-over, but accidents do happen and the last thing we’d want is for a hack to occur, funds lost and the project’s reputation and credibility damaged.

@Jared, can someone on the dev team please shed some light on how the code is audited for bugs? Perhaps that could be a separate post.

1 Like

I am also very curious about this. At what point on the Roadmap is this reimplemented?

2 Likes

As of Decemeber (pDEX v3 launch), Incognito has fired up a new growth team. This team is immediately responsible for listing PRV (Incognito) on various other sites and starting partnerships (new pools and liquidity) with other coins/projects.

I have been drafting posts regarding their efforts and will post a transparency report soon. :sunglasses:

I will discuss this further with the devs.

1 Like

Hi everyone, as posted in the topic, the Polygon bridge was on our testnet and it’s ready for release on mainnet too. By having this, we believe not only does it help expand utility for Incognito but also be a partnership opportunity with Polygon team. We’re applying for the Polygon’s grant but it would be much quicker if someone in the community who has a relationship with Polygon team, connect us to their team. Thanks in advance for your help.

@Mike_Despo If I recall rightly, you used to create a post to ask how Incognito differs from other privacy platforms. This is a good question and we hope the topic could somewhat answer it.

@Linnovations Coinspect audited the EVM-based bridges already, you can check the audit report at the topic.

3 Likes

Thanks @duc for providing the link to the audit report. That report was done in May 2021 for the Ethereum bridge. Just curious will it be necessary for the Incognito Dev team to engage Coinspect again to audit the more recent bridges, E.g. Polygon bridge?

This is already answered :slight_smile: Polygon is an EVM-based chain.

2 Likes

Ah OK… Thanks for schooling me @abduraman :slight_smile:

Sorry, I’m not a developer, but does this mean the Incognito team can roll-out other Incognito bridges to EVM-based chains without the need to have code audited?

As I know they use the same contract code, so yes.

2 Likes