Multichain Infrastructure: Global Funding Without Bridges

Bondi implements a multichain architecture that enables global funding rounds across multiple blockchain networks without the security risks and complexity of traditional cross-chain bridges. Through the AccountingToken system and automated deposit mirroring, users can participate from their preferred blockchain while contributing to unified funding pools.

Cross-Chain Architecture Overview

Distributed Funding, Unified Accounting

Traditional multichain approaches face significant challenges:

• Bridge Security Risks: Billions lost to bridge exploits and liquidity attacks
• Complex Protocols: Cross-chain messaging introduces multiple failure points
• User Experience Issues: Complex bridging processes deter participation

Bondi solves these problems through a lock-and-mirror approach that keeps real assets on their origin chains while maintaining unified global accounting.

Lock-and-Mirror Architecture

The Bondi multichain system operates on a simple but powerful principle:

Real Assets Stay Put:

• USD stablecoin deposits remain on their original blockchain
• No cross-chain asset transfers required
• Eliminates bridge liquidity risks entirely

Accounting is Mirrored:

• Deposit events are detected and mirrored across all chains
• AccountingTokens track cross-chain contributions
• Global funding totals maintained on every chain

Distribution Stays Local:

• Users receive Bond Tokens on their participation chain; BTs are distributed based on local USD stablecoin deposits only
• No complex cross-chain token distributions

Automated Event Detection

The Multichain Watcher Service monitors investment events across all supported blockchain networks:

Event Monitoring Process:

1. Investment Detection: Monitor InvestmentMade events on all chains
   
2. Unique ID Generation: Create replay-resistant deposit identifiers
   
3. Cross-Chain Mirroring: Call mirrorDeposit on all other chains
   
4. Accounting Update: Mint AccountingTokens to maintain global totals
   

Supported Networks: See Deployed Addresses for currently supported networks and their deployment information.

Unique Deposit Identification

To prevent replay attacks and ensure accurate accounting, each deposit receives a unique identifier:

Deposit ID Formula:
Deposit ID = keccak256(abi.encodePacked(sourceChainId, investor, timestamp))

Component Breakdown:

• sourceChainId: EIP-155 chain identifier (prevents cross-chain confusion)
• investor: Depositor's address (ensures investor-specific uniqueness)
• timestamp: Block timestamp from investment event (time-based uniqueness)

Replay Protection:

Each Handler contract maintains a processed mapping that prevents duplicate deposit IDs from being mirrored multiple times.

Mirror Deposit Process

When an investment occurs, it's automatically mirrored to all other supported chains:

Step-by-Step Process:

1.Investment Event: User deposits USD stablecoin on Chain A, receives FpUSD receipt
2.Event Detection: Watcher service detects InvestmentMade event
3.ID Generation: Unique deposit ID created using chain, investor, timestamp
4.Mirror Transactions: Watcher calls mirrorDeposit on Chains B, C, D
5.Accounting Update: AccountingTokens minted to Funding contracts
6.Global Consistency: All chains now show updated total funding amount

AccountingToken System

Non-Transferable Accounting Records

AccountingTokens serve as pure accounting entries that mirror cross-chain deposits without creating transferable value:

Technical Specifications:

• Token Standard: ERC20 with all transfers disabled
• Decimal Precision: 6 decimals (matching USD stablecoin exactly)
• Minting Authority: Only Handler contracts with MINTER_ROLE
• Lifecycle: Minted for mirroring, never burned or transferred
• Purpose: Pure accounting –no economic value or redemption rights

Global Funding Calculation

Each Funding contract calculates total funding using both local and mirrored deposits:

Total Raised Formula:
Total Raised = Local USD Stablecoin Balance + AccountingToken Balance

Example Scenario:

• Chain A: $400,000 USD stablecoin deposited locally + $600,000 AccountingToken = $1,000,000 total
• Chain B: $300,000 USD stablecoin deposited locally + $700,000 AccountingToken = $1,000,000 total
• Chain C: $300,000 USD stablecoin deposited locally + $700,000 AccountingToken = $1,000,000 total

All chains show the same $1,000,000 total funding while keeping real assets on their origin chains.

Security Model and Trust Assumptions

Limited Trust Requirements

The Bondi multichain architecture minimizes trust requirements compared to traditional bridge solutions:

What's Centralized:

• Multichain Watcher Service: Operated by Bondi team with WATCHER_ROLE
• Event Detection: No single‑provider dependency: redundant websocket and webhook event streams via providers (e.g., Alchemy, Thirdweb, QuickNode) with deduplication
• Mirroring Timing: Deposits may have brief delays before appearing on other chains

What's Decentralized:

• Fund Custody: Real USD stablecoin remains in decentralized smart contracts
• Accounting Verification: All operations verifiable against source chain events
• Withdrawal Rights: If a round fails, refunds are cryptographically guaranteed and executed automatically via refundInvestors; otherwise funds remain locked until distribution
• Smart Contract Logic: All accounting and distribution logic is onchain

Risk Mitigation Strategies

Multiple safeguards protect against potential issues:

Operational Risk Controls:

• Service Monitoring: Comprehensive uptime and performance monitoring
• Redundant Event Detection: Multiple websocket and webhook providers (e.g., Alchemy, Thirdweb, QuickNode) ensure high availability with no single point of failure.
• Manual Recovery: Procedures for handling missed events or service downtime
• Emergency Pause: Funding contracts can be paused if inconsistencies detected

Security Safeguards:

• Limited Permissions: Watcher role restricted to mirrorDeposit function only (minting of AccountingTokens). Cannot move user funds, alter token balances, or withdraw assets — zero financial risk even if compromised.

• Non-Transferable Tokens: AccountingTokens cannot be traded or redeemed
• Unique ID Enforcement: Smart contracts prevent duplicate or invalid operations
• Verifiable Operations: All mirroring can be verified against source events

Blast Radius Limitation:

• Watcher compromise cannot drain user funds
• Maximum impact limited to temporary accounting inconsistencies
• Users retain full access to originally deposited funds
• Service restoration corrects any inconsistencies

Industry Context and Validation

Established Cross-Chain Patterns

Bondi's approach follows proven patterns used across the DeFi ecosystem:

Lock-and-Mint Precedents:

• LayerZero OFT Standard: Tokens locked on source, synthetic minted on destination
• Astria Bridge: "Locks funds on sequencing layer, derives synthetic deposit" pattern
• Chainlink Documentation: Recognizes lock-and-mint as standard bridge pattern
• ERC-3643 Cross-Chain RWA: Demonstrated for real-world asset tokenization

Bondi Innovation:

Applies proven lock-and-mint pattern with non-transferable accounting tokens, eliminating traditional bridge liquidity risks while maintaining cross-chain fund visibility.

Audit Considerations

The architecture aligns with established security practices:

• Battle-Tested Pattern: Lock-and-mint used in audited protocols
• Reduced Complexity: Simpler than full cross-chain messaging protocols
• Clear Trust Boundaries: Explicit documentation of centralized components
• Verifiable Operations: All cross-chain operations independently verifiable

According to EY's guidance on digital asset audits, cross-chain schemes are evaluated based on proper controls, unique identifiers, and trust model transparency - all implemented in Bondi's design.

Future Decentralization

The multichain infrastructure is designed for progressive decentralization, moving from centralized watcher operations to multi-signature governance and eventually fully decentralized cross-chain messaging through CCIP, LayerZero or similar protocols.

The multichain infrastructure represents a careful balance between innovation and security, enabling global funding rounds while prioritizing user safety and regulatory compliance. Bondi unlocks the full potential of multichain DeFi without the traditional risks and complexity of cross-chain bridges.