Peggy

Abstract

The peggy module enables the Injective Chain to support a trustless, on-chain bidirectional ERC-20 token bridge to Ethereum. In this system, holders of ERC-20 tokens on Ethereum can convert their ERC-20 tokens to Cosmos-native coins on the Injective Chain and vice-versa.

This decentralized bridge is secured and operated by the validators of the Injective Chain.

Contents

1. Definitions

2. Workflow

3. State

4. Messages

5. Slashing

6. End-Block

7. Events

8. Parameters

Components

1. Peggy smart contract on Ethereum

2. Peggy module on the Injective Chain

3. Peggo (off-chain relayer aka orchestrator)

   • Oracle (Observes events of Peggy contract and send claims to the Peggy module)

   • EthSigner (Signs Valset and Batch confirmations to the Peggy module)

   • Batch Requester (Sends batch token withdrawal requests to the Peggy module)

   • Valset Relayer (Submits Validator set updates to the Peggy contract)

   • Batch Relayer (Submits batches of token withdrawals to the Peggy contract)

In addition to running an injectived node to sign blocks, Injective Chain validators must also run the peggo orchestrator to relay data from the Peggy smart contract on Ethereum and the Peggy module on the Injective Chain.

Peggo Functionalities

1. Maintaining an up-to-date checkpoint of the Injective Chain validator set on Ethereum

2. Transferring ERC-20 tokens from Ethereum to the Injective Chain

3. Transferring pegged tokens from the Injective Chain to Ethereum