ERC-20 (or similar) Bridge to access DEFi Universe

ERC-20 (or similar) bridge to access DEFi Universe

The current decentralized and open-source PAI protocol was originally forked from BTC and has gone through several upgrades over the years by the developer community. Some of the upgrades include:

  1. Adding a storage layer
  2. Upgrading to a hybrid consensus mechanism which incorporates both mining and staking
  3. Permissionless mining
  4. Identification / Authentication protocol

All of the open source code can be found here:

One of the requests from the vibrant PAI community is to have smart contract functionality, similar to that offered by Ethereum’s ERC-20 protocol. PAI developers have been researching solutions which can be leveraged by the existing PAI protocol. One promising option is to launch a PAI-backed ERC-20 token (or similar) to create a bridge between the PAI blockchain and the DeFi universe. This venture would be modeled after Wrapped BTC:

With Wrapped PAI (WPAI), users will be able to seamlessly transfer between the native PAI blockchain and Ethereum (or similar) blockchains, granting PAI holders access to the full wealth of the burgeoning DeFi ecosystem (DEXs, staking, farming, lending, NFTs, and much more).

Projects are not under developing for months.

We do not need yet another bridge to transform native PAI to ERC-20 token, we need true smart contract integration like BSC of Binance.