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Overview

BOB Gateway is an intent-based bridge that enables Bitcoin users to access DeFi protocols with a single Bitcoin transaction. The protocol coordinates peer-to-peer swaps between users and Solvers secured by an on-chain Bitcoin Light Client.

Onramp: Bitcoin → BOB

1

Liquidity

Solvers hold wrapped Bitcoin on BOB or destination chain.
2

Quote

User requests to swap BTC for wrapped BTC or execute a DeFi action (stake, lend, swap). The API provides quotes with routing information, fees, and expected outputs.
3

Order Creation

User creates an order with the Relayer to reserve liquidity. The Relayer provides transaction details including the Solver’s Bitcoin address and order parameters.
4

Bitcoin Transaction

User sends BTC to the given Bitcoin address. The order details are tracked by the Relayer using the transaction ID (txid).
5

Trustless Verification

The Relayer verifies the Bitcoin transaction:
  • The transaction exists in a Bitcoin block
  • The block meets the required proof-of-work difficulty
  • The transaction was sent to the correct Solver address with the correct amount
6

Intent Execution

After verification, Gateway releases the Solver’s wrapped Bitcoin to execute the user’s intent:
  • Direct transfer: Sends wrapped BTC to user’s address
  • Staking: Converts to BTC LST/LRT and sends to user
  • Custom strategy: Executes smart contract logic
Output tokens are sent to the user’s address on the destination chain.

Architecture Diagram

The onramp process involves trustless coordination between Bitcoin, the Relayer, and BOB:

Offramp: BOB → Bitcoin

1

Registration

Solvers register their address and fund it with native Bitcoin (BTC) to fulfill offramp orders.
2

User Creates Order

User locks wrapped Bitcoin in the OfframpRegistry smart contract and specifies their Bitcoin address for receiving BTC.
3

Solver Accepts & Fulfills

Solvers monitors open orders, accepts those that meets their fee threshold and broadcasts a Bitcoin transaction to the user’s specified address.
4

Proof & Settlement

After Bitcoin confirmation, the Relayer submits a Merkle proof of the Bitcoin transaction to the OfframpRegistry. The contract verifies the proof and transfers the user’s locked wrapped Bitcoin to the Solver as reimbursement.
5

Fallback Options

If the order isn’t fulfilled within a reasonable time:
  • User can bump transaction fees to incentivize Solvers
  • User can unlock their funds after a claim delay period

Architecture Diagram

Users’ funds cannot be stolen by the relayer, but orders may be “stuck” if the relayer is offline since users cannot currently submit proofs themselves.

Next Steps