CONVERTING BRIDGED TOKENS TO NATIVE TOKENS ON A BLOCKCHAIN
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United States of America
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Issued Date -
Jan 30, 2025
app pub date -
Aug 24, 2023
filing date -
Aug 24, 2023
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Abstract
Certain aspects of the present disclosure provide techniques for converting a bridged token on a blockchain to a native token on the blockchain. An example method generally includes pausing a token bridge between a first blockchain and a second blockchain. Minting privileges on the second blockchain are adjusted such that a designated user is granted privileges to control token minting on the second blockchain and no other users are allowed to control token minting on the second blockchain. It is validated that a quantity of a bridged token has remained unchanged since a freeze time at which the token bridge was paused. Based on validating that the quantity of the bridged token has remained unchanged since the freeze time, the bridged token is converted to a native token existing on the second blockchain.
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