Alcor DEX: BOS IBC Integration

How does IBC work?

  • Original token: the original token (EOS, project tokens, user tokens, etc.).
  • Peg token: a new token that is a copy of the original token. Each 1:1 peg token is backed with an original token.
  • Original blockchain: the blockchain on which the original token was created.
  • Peg blockchain: the blockchain on which the peg token of the original token is issued.
  • IBC Contract: bosibc.io (according to the standard in each blockchain) a contract that blocks / unlocks the tokens being moved.

IBC Hub

Using Alcor for trading between blockchains

The User makes a Deposit EOS → WAX, enters the WAX blockchain, opens WAX/EOS and sells EOS for WAX.
In the EOS blockchain, the user opens the EOS/WAX market, buys WAX for EOS, and withdraw WAX peg in the WAX blockchain.

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