Snowfall is the first cross chain transfer ecosystem, built for fungible and non-fungible token transfers. The Snowfall project is taking multichain interoperation service to another level of user friendliness, using canonical token bridge protocol for fungible-tokens and a wrapping and swap protocol for non-fungible-tokens.
At the time of writing there are over 200+ smart contract chains in the market with over 15 million smart contract tokens. While only a tiny fraction of these numbers offer real value, the size however of this market will continuously keep rising, given that chains have their fundamental strengths and developers as well as users will want to optimize usage across these platforms to get the most out of them. This therefore calls for more efficient ways to bridge the architectural divide that blockchain platforms have.
At the time of writing there are several cross-chain bridge protocols out there however, they have their own limitations most notably, the type of token they support. This paper explores Snowfall’s optimal solution to these problems and presents a workable tokenomics, use case proposition and roadmap for project’s execution