Product Overview and Background

Ferrum takes a problem-driven approach to product development. We have utilized this approach in developing and deploying our Staking products and Incubator. Learning from those experiences, when it came time to allocate resources to the development of a next-generation multi-chain aggregator, we adopted the same due diligence process to assess the viability and need for another interoperability protocol in the market. We start with a series of “why” questions when evaluating product development.

1. Why is a multi-chain aggregator needed?

2. Why aren’t other multi-chain aggregators filling the demand and or issues outlined?

3. Why would users care about another multi-chain aggregator?

4. Why should we be the ones to build this multi-chain aggregator?

Answers to these questions are typically formed through a review of the technical architecture along with product deployment strategies of existing bridge providers. Our research found that indeed there is an unfulfilled need for a secure cross-chain swapping and secure bridging platform in the market. A multi-chain solution that conforms to the highest standards of security through technical architecture and business process security. We’ve committed ourselves to building the infrastructure needed to support such an interoperability protocol.

The general application stack is MERN. The front-end utilizes cloud-front and AWS S3 deployments to host the application interface whereas the back-end is deployed on EC2 instances through VPC and ELBs. Our dev, qa, uat, staging and prod environments are segregated.

From a smart contract, module, and blockchain interaction standpoint there are a few core components that enable multi-chain bridging and swapping of assets through the MultiSwap protocol.

1. FIBER - Ferrum Inter Blockchain Express Routing Engine

   1. API

   2. Router

2. FORGE - Ferrum Optimal Routing Gas Estimation Engine

3. Bridge Pool

4. Fee Distributor - TODO

5. Node Infrastructure

Let's dive into these core components to understand how MultiSwap facilitates multi-chain swapping and bridging of assets.

MultiSwap's routing engine, FIBER, categorizes assets into three distinct types depending on their liquidity setup.

There are three main categories of assets currently:

1. Foundry Assets

2. Refinery Assets

3. Ionic Assets

Assets that have single asset liquidity added to the bridgePool are categorized as Foundry Assets. This liquidity can be added by Ferrum or the Token Administrators of listed tokens.

A major benefit of Foundry Assets is that swaps involving Foundry Assets typically skip interaction with an aggregator (1inch) or DEX (UniSwap). Instead, FIBER will prepare a path for Foundry assets to interact directly with the bridgePool. Saving liquidity provider fees for the part of the cross-chain swap that involves the Foundry Asset.

It's important to note that Foundry Assets are the only assets that are bridgeable across chains as their liquidity is managed by the bridgePool. All other assets must be converted to Foundry Assets to facilitate bridging across chains. This is further described in the MCSF and Bridging & Settlement Sections.

Introducing FIBER Engine

At a high level, FIBER is responsible for finding the optimal path to conduct swaps across chains, as well as bridging and settlement; depending on the asset type. If the asset has liquidity in the bridgePool these assets are classified as Foundry Assets. All foundry assets benefit from reduced fees during a swap across chains as one less swap needs to be conducted on the source or destination chain. FIBER conducts its work through FIBER Engine which interacts with the FIBER Router, Fund Manager, and external entities.

Typical multiChainSwap request sent to FIBER Engine

A typical FIBER call includes the following parameters:

1. sourceCABN

2. sourceFerrumNetworkIdentifier

3. destinationCABN

4. destinationFerrumNetworkIdentifier

5. amountSourceCABN or amountDestinationCABN

   1. One of these values must be provided

6. destinationAddress

7. slippage: default max 2% per chain

8. platformFeeCABN

9. isFeeEnabled

Assets that don't fall into the or categories are categorized as Ionic Assets. This includes any asset with available liquidity on an ecosystem DEX.

Ionic Assets typically have to go through multiple swaps to get to the bridgable USDC asset. This means the cross-chain swap for Ionic Assets incurs higher liquidity provider fees as a result of the required additional swaps.

FIBER Engine is the brains behind MultiSwap. It is the main source of contact for anyone looking to do a MultiChian swap utilizing MultiSwap.

The Checks

FIBER Engine receives a request, then starts conducting a set of checks on the source and destination networks, including FAC, RIAC, and ABQC checks.

The Requests

Once FIBER Engine has conducted the necessary checks and determined the most optimal route for the MultiChain Swap request, it sends the request to the FIBER Router to process the request.

The Nodes

FIBER also interacts with the nodes and waits for verification from the MultiSwap node infra before authorizing withdrawAndDeposit or withdrawSwapAndDeposit requests on the destination networks through the FIBER Router.

Assets that have pair liquidity added with USDC to an ecosystem DEX are categorized as Refinery Assets. This liquidity can be added by Ferrum or the Token Administrators of listed tokens.

A major benefit of Refinery Assets is that swaps involving Refinery Assets typically require less swaps to facilitate the cross-chain swap. Saving liquidity provider fees for the part of the cross-chain swap that involves the Refinery Asset.

Fund Manager is the smart contract responsible for liquidity management, the configuration of Foundry Assets, and bridging settlement. Thanks to the FIBER Router, the Fund Manager does not need to interact with any external wallet or DEX router contract directly, adding additional layers of security to the MultiSwap architecture.

Let's take a typical FIBER call and add some example parameters to understand the flow of events.

1. sourceCABN: BUSD

2. sourceFerrumNetworkIdentifier: BSC

3. destinationCABN: USDT

4. destinationFerrumNetworkIdentifier: Polygon

5. amountSourceCABN: 100000000000000000000 (wei value)

6. destinationAddress: 0xdestination

7. slippage: 2% per chain (4% total)

8. platformFeeCABN: BNB

9. isFeeEnabled: true

FIBER Asset Categorization

When FIBER receives this call, it starts the process of categorizing the sourceCABN and destinationCABN. In order to categorize the FIBER engine conducts the following checks:

Foundry Asset Check (FAC)

Conducts abridgePool liquidity check on destination network to determine if the asset has sufficient liquidity available in the bridgePool to be categorized as a Foundry Asset for this swap.

Refinery or Ionic Asset Check (RIAC)

Conducts if there is pair liquidity available with the bridgeable asset. i.e. Is it possible to convert user's asset to bridgeable asset in a single hop or swap. If the user's asset can be swapped for the bridgeable asset in a single hop, then the asset will be categorized as a Refinery Asset. Otherwise the asset will be categorized as an Ionic Asset.

Aggregated Best Quote Check (ABQC)

aggregatedBestQuoteCheck a check for the best price on source and destination networks. Checks quotes from aggregators such as 1inch and compares those quotes against DEX quotes from DEX Router contracts. Suggest all options available rated from best to worst.

FIBER Router is the single point of contact with the MultiSwap and is responsible for the movement of assets from user wallets to Dex Routers and/or to the Fund Manager and vice versa.

Thanks to the FIBER Router, no wallet or smart contract directly interacts with the providing additional layers of separation for any attack vectors targeting the liquidity stored in the .

Requests from FIBER Engine

The FIBER Router receives requests from the and processes them according to the requirements of each given request. These can include swaps for , or , or even liquidity-related events.

Foundry Asset swap requests for FIBER Router

When the FIBER Router receives a swap request from the on the source network, it takes the requested tokens out of the user's wallet and deposits them in the while sending the Fees to the if this is a fee-enabled transaction.

On the destination network, when the FIBER Router receives a withdrawAndDeposit request from the , it takes the requested tokens from the and deposits them in the destination wallet provided in the request.

Refinery Asset or Ionic Asset swap requests for FIBER Router

When the FIBER Router receives a or swap request from the on the source network, it takes the requested or tokens out of the user's wallet, moves them to the FIBER Router, then initiates the relevant DEX or Aggregator swap of this or to a . Once the swap is completed, the DEX or Aggregator router deposits the into the FIBER Router. The router then deposits these tokens into the while sending the Fees to the if this is a fee-enabled transaction.

On the destination network, when the FIBER Router receives a or withdrawSwapAndDeposit request from the , it takes the requested tokens from the , deposits them in the FIBER Router, then initiates the relevant DEX or Aggregator swap of this to the requested or . Once the swap is completed, the DEX or Aggregator router deposits the or into the FIBER Router. The router then deposits these tokens into the provided destination wallet.

The flow of a MultiChain swap

Any MultiChain swap begins with a call to the . After receiving the multiChainSwap request, the FIBER Engine conducts a series of checks to categorize the source and destination assets involved in the swap. The section covers these checks in detail.

Example swap scenarios

The scenarios include

1. 1. 100 USDC on Ethereum to 3,164.5569620253 FRM on BSC

2. 1. 100 USDC on Ethereum to 0.345793423 BNB on BSC

3. Foundry Asset to Ionic Asset Swap

   1. 100 USDC on Ethereum to 20.5912 XVS on BSC

4. Refinery Asset to Foundry Asset Swap

   1. 0.345793423 BNB on BSC to 100 USDC on Ethereum

5. Refinery Asset to Refinery Asset Swap

   1. 0.06422277597 ETH on Ethereum to 0.345793423 BNB on BSC

6. Refinery Asset to Ionic Asset Swap

   1. 0.06422277597 ETH on Ethereum to 20.5912 XVS on BSC

7. Ionic Asset to Foundry Asset Swap

   1. 20.5912 XVS on BSC to 100 USDC on Ethereum

8. Ionic Asset to Refinery Asset Swap

   1. 20.5912 XVS on BSC to 0.345793423 BNB on BSC

9. Ionic Asset to Ionic Asset Swap

   1. 896.059 ALPHA on Ethereum to 20.5912 XVS on BSC

Foundry Asset to Foundry Asset swap request

Example: 100 USDC on Ethereum to be swapped for FRM on BSC

First, let's go over how these were categorized.

Foundry Asset to Refinery Asset Swap

Example: 100 USDC on Ethereum to 0.345793423 BNB on BSC

Let's go over how these were categorized.

To be continued - Optimal Path FA to RA

After reviewing the parameters of a FIBER request, the FIBER engine determines the categorization of the assets involved into one of the following categories.

1. Foundry Assets

2. Refinery Assets

3. Ionic Assets

The categorization of assets defines the available paths to swap and bridge assets across chains. Foundry Assets will typically skip interaction with an aggregator (1inch) or DEX (UniSwap). Instead, FIBER will prepare a path for Foundry assets to interact directly with the bridgePool. Saving liquidity provider fees for the part of the cross-chain swap that involves the Foundry asset.

In each case, FIBER not only determines the optimal path between bridgePool vs DEX swaps, but also queries multiple ecosystem aggregators, and DEXs to determine the best possible rate for the swap and bridging of assets across chains.

It is possible for the sourceCABN to be a different category than the destinationCABN. FIBER's flexibility allows different asset categories to be swapped across chains in the most efficient manner possible.

Bridging & Settlement Process

The overall bridging and settlement process follows the MCSF protocol. The following key components come into play when different edge cases arise.

1. MultiChain Settlement Flow (MCSF)

2. Bridging of Assets

3. Settlement

Foundry Assets are considered bridgeable assets. This means there is sufficient liquidity available for this asset on the destination network to facilitate bridging for the amount requested by the users.

All other asset types must be converted to a Foundry Assets in order to facilitate bridging of these assets across chains.

MultiSwap enables any asset $x$ on network 1 to be swapped for any asset $y$ on network 2. To facilitate these multi-chain swaps, FIBER uses MCSF.

The flow of swap and bridging of assets across chains follows four steps known as MultiChain Settlement Flow (MCSF)

1. Swap from User Asset to Bridgeable/Settlement Asset

2. Bridging of Asset

3. Swap from Bridgeable/Settlement Asset to User Desired Asset

4. Deposit of Desired Asset Into User's Wallet

Once an asset is converted to a Foundry Asset the bridging process is initiated. Foundry Assets are deposited into the bridgePool on the source chain. After the verification of the deposit is completed, a signed withdrawal item and a Release and Deposit Request (RDR) is initiated on the destination network.

Settlement events take place when the Refinery Asset or Ionic Asset swap on the destination chain falls outside of the desired slippage tolerance parameters provided as part of the FIBER request.

In this scenario, the asset is settled in a Foundry Asset, typically USDC.

Introducing FORGE Engine

FORGE is responsible for calculating gas and MultiSwap fees for swapping and bridging of assets across chains.

FORGE has two main responsibilities:

1. GAS estimation

2. MultiSwap Fee Estimation

FORGE calculates GAS cost for the swap and bridging transactions on the source chain, as well as any necessary Refinery Asset or Ionic Asset swaps and RDR transactions on the destination chain.

The GAS estimation is transparently shown to the user in the MultiSwap interface. If the GAS gathered according to the forecasted estimation is greater than the actual GAS cost, FORGE stores the excess gas in reserve associated with the user's address that initiated the swap.

There is a small fee associated with each MultiSwap transaction. This fee can be paid by users in a FORGE token of their choice.

Fee Tokens

1. FRM

2. cFRM

3. Network Fee Currency (ETH, BNB, Matic etc)

4. USDC

The fee is currently set to $1 per transaction. FORGE gets updated price quotes every 30 seconds to represent the value of non-stable tokens equivalent to $1. Fees paid in FRM and FRMx are discounted by 25%. Whereas fees paid in cFRM and cFRMx are discounted by 50%.

Our previous bridge node architecture and related infrastructure were in their infancy stage. For example, the signing of withdrawals was centralized to favor speed and security. In general, a simplified architecture was favored for v1.0.0. With the support of major backers such as Algorand, Casper and others, Ferrum Network started updating the Node Signing Architecture and related Infrastructure (v2.0.0) to enable decentralized Node signing. This major update was geared to provide additional security and reliability layers while allowing stakeholders like Algorand, Casper, and other networks in the ecosystem to run Generator and Validator nodes for withdrawals. The ability for more stakeholders to run Generator and Validator nodes brings state-of-the-art decentralization to the multi-chain protocol. This major upgrade will be pivotal in improving MultiSwap's architectural security without compromising speed and maintaining reliability.

Node Signing Architecture and Infrastructure v1.0.0

New Node Infrastructure

The new node infrastructure is a culmination of three distinct node roles working together. Each adds an additional layer of security and authentication in order to reduce and discourage attack vectors on the system. The following nodes make up the bridging node infrastructure:

1. Generator Nodes

2. Validator Nodes

3. Master Node

Let's go over the roles of each node next.

View the full diagram by clicking the link below:

Node Signing Architecture and Infrastructure v2.0.0

Widgetization

We're excited to share that we are building a shareable and embeddable widget for MultiSwap. This widget can be added to any website for any token in the Ferrum Ecosystem.

Public APIs

We are open sourcing our work with MultiSwap, FIBER, FORGE and our MultiChain Liquidity Pool Bridge. We are also exposing APIs publicly to help developers utilize the foundational tools we have already built.

The Generator Node is one of the first components in Ferrum Network's Node Infrastructure that looks for, validates and generates withdrawal request items on destination networks for deposited tokens on origin networks.

The deposits are monitored through on-chain activity by these Generator Nodes. Once the nodes identify new deposits on-chain they submit those requests to the DB. At this point, the validator nodes come into play.

The validator node verifies the newly received requests from the Generator Node against on-chain data. Once the verification is complete that this is indeed an authenticated on-chain request and not a spoofed request, the Validator Node adds it's signature as a verifier of the request.

NOTE: Only authenticated validator node signatures are honored. If a validator node is not authenticated the master node will ignore these signatures.

The Master Node looks for requests that have met the verification threshold. The verification threshold is the number of authenticated validator node signatures required before a request is considered verified and authenticated. These parameters are configured by master node administrators through a quorum.

Once the Master Node has received the threshold signatures from authenticated validator nodes, it signs the withdrawal requests. The master node signature generates a valid one-time use withdrawal item.

We secure our systems by ensuring all access follows the principle of least privilege (PoLP) protocols. A good example of this is the segregation of accounts where the dev, QA, and UAT environments are set up vs staging and prod environments. Each account is only accessible by individuals who need to access them for their core job functionality and access to staging and prod accounts is further restricted to lead engineers. The management of user access is done in an entirely separate account, further restricting access control and adding another layer of protection against external phishing and related attacks.

FerrumNetworkIdentifier

A unique identifier that is assigned to all networks in Ferrum's integrated ecosystem. This identifier provides a uniform method to query network details for EVM and non-EVM chains. It can be queried by providing the chainId, networkId, or networkName.

ABQC

Aggregated best quote check

CABN

Currency Address by Network

FAC

Foundry Asset Check

RDR

Release and Deposit Request

RIAC

Refinery or Ionic Asset Check

SCABN

Smart Contract Address by Network

MCSF

MultiChain Settlement Flow

FAQs

Frequently Asked Questions

Currently there are no platform fees for using MultiSwap, you just pay for the gas charged by the network. Otherwise, MultiSwap is fee free for the time being.

Following EVM networks are supported in MultiSwap BSC Arbitrum Fantom Polygon

The following NON EVM network is supported in MultiSwap: Cudos

You can report bugs through the "Report a Bug" button shown on the MultiSwap dApp as shown in the picture below:

Once you report a bug, grab the bug ID then follow the instructions below to submit a support ticket to notify a member of our team through our ticketing system. We have launched a ticketing system to ensure we can get you the best support from relevant team members.

Submitting a Ticket in Discord

Our support system is in Discord.

If you are already in our Discord Server

1. Go to the #mod-support channel

2. Click create a ticket and submit your bug ID along with a description of the issue

If you have not joined our Discord Server yet

1. Join our Discord by clicking this link: https://discord.gg/TfrWeN8Vtq

2. Accept the rules, and grab the community-member role if you haven't already done so

3. Go to the #mod-support channel

4. Click create a ticket and submit your bug ID along with a description of the issue

A team member will respond to your query as soon as they review the ticket request.

The following wallets are supported in MultiSwap Metamask for EVM chains and Kepler wallet for non-evm chains i.e. Cudos

What is Mulitswap?

MultiSwap is a smart routing multichain DEX aggregator that enables cross-chain swaps.

Seamlessly swap any asset on any network for any asset on any network with MultiSwap!

How to Swap between EVM chains?

Select any EVM Network as FROM and To, and then select a token for swap. You will see the quotation after selecting tokens, and then you will be able to click on the Swap button.

Users can also swap to any wallet address by entering the address in the Send To field. Please refer to the following screencast

How to swap between EVM and NON EVM or NON EVM and EVM chains?

You can swap by selecting EVM/Non-EVM as a From and selecting EVM/NON EVM as a To address. The user needs to provide an address in the Send To field to conduct a swap.

Which networks are supported in MultiSwap?

Following EVM networks are supported in MultiSwap BSC Arbitrum Fantom Polygon

The following NON EVM network is supported in MultiSwap: Cudos

Which Wallets are supported in MultipSwap?

The following wallets are supported in MultiSwap Metamask for EVM chains and Kepler wallet for non-evm chains i.e. Cudos

How to get support and report bugs?

You can report bugs through the "Report a Bug" button shown on the MultiSwap dApp as shown in the picture below:

Once you report a bug, grab the bug ID then follow the instructions below to submit a support ticket to notify a member of our team through our ticketing system. We have launched a ticketing system to ensure we can get you the best support from relevant team members.

Submitting a Ticket in Discord

Our support system is in Discord.

If you are already in our Discord Server

1. Go to the #mod-support channel

2. Click create a ticket and submit your bug ID along with a description of the issue

If you have not joined our Discord Server yet

1. Join our Discord by clicking this link: https://discord.gg/TfrWeN8Vtq

2. Accept the rules, and grab the community-member role if you haven't already done so

3. Go to the #mod-support channel

4. Click create a ticket and submit your bug ID along with a description of the issue

A team member will respond to your query as soon as they review the ticket request.

What minimum amount is allowed on MultiSwap for swap?

The minimum amount for any swap is set as 0.01

How to check the status of your previous swap or previous swap history?

You can check the status of your previous swaps by going to the My Trades section from the left menu under MultiSwap. You can see the statuses of your previous swaps, which will be marked as Completed.

What is the functionality of the switch network?

If you are connected with a different network, and you selected a different network as From network then it will show you Switch Network. After clicking the Switch Network button you will be shifted to the required network in MetaMask.

How to search for available tokens?

You can search for available tokens by typing in the token name or pasting the token contract address in the search token field.

Which wallet extensions should be installed on your system for making a swap?

MetaMask and Kepler wallet extensions are required for making swaps between EVM to NON-EVM; however, only MetaMask is sufficient if you swap between EVM to EVM chains.

Are there any fees for using MultiSwap?

Currently there are no platform fees for using MultiSwap, you just pay for the gas charged by the network. Otherwise, MultiSwap is fee free for the time being.

How do multichain swaps work?

Multichain swaps work through various processes based on the Asset's category, described as Foundry, Ionic, and Refinery assets. Please refer to the following link for more details.