Transferring assets from Ethereum to Namada

In order to facilitate transferring assets from Ethereum to Namada, There will be two internal accounts with associated native validity predicates:

  • #EthBridge - Controls the /eth_msgs/ storage
  • and ledgers of balances for wrapped Ethereum assets (ERC20 tokens) structured in a "multitoken" (opens in a new tab) hierarchy
  • #EthBridgeEscrow which will hold in escrow wrapped Namada tokens which have been sent to Ethereum.

Wrapped ERC20

If an ERC20 token is transferred to Namada, once the associated TransferToNamada Ethereum event is included into Namada, validators mint the appropriate amount to the corresponding multitoken balance key for the receiver, or release the escrowed native Namada token.

pub struct EthAddress(pub [u8; 20]);
/// An event transferring some kind of value from Ethereum to Namada
pub struct TransferToNamada {
    /// Quantity of ether in the transfer
    pub amount: Amount,
    /// Address on Ethereum of the asset
    pub asset: EthereumAsset,
    /// The Namada address receiving wrapped assets on Namada
    pub receiver: Address,

For 10 DAI i.e. ERC20(0x6b175474e89094c44da98b954eedeac495271d0f (opens in a new tab)) to atest1v4ehgw36xue5xvf5xvuyzvpjx5un2v3k8qeyvd3cxdqns32p89rrxd6xx9zngvpegccnzs699rdnnt

                += 10

Namada tokens

Any wrapped Namada tokens being redeemed from Ethereum must have an equivalent amount of the native token held in escrow by #EthBridgeEscrow. Once the associatedTransferToNamada Ethereum event is included into Namada, validators should simply make a transfer from #EthBridgeEscrow to the receiver for the appropriate amount and asset.