Introducing the PawPort Doginals Bridge by Dogechain: Revolutionizing DRC20 Token Utility
In its ongoing commitment to enhancing the utility of Dogecoin, Dogechain identified a unique opportunity in Doginals.
The Dogechain development team dedicated substantial efforts to pioneering the world’s first DRC20 to EVM bridge, which has led to the official launch of the PawPort bridge.
This innovative bridge is designed to empower users by infusing DRC20 assets with enhanced utility and provide scalability, and serviceability to the ecosystem
Understanding Doginals (DRC20)
The DRC20 token standard operates on the Dogecoin blockchain, allowing developers and users to create fungible and non-fungible assets within Dogecoin’s ecosystem.
These assets, referred to as “Doginals,” represent an addition to Dogecoin’s features, enriching the functionality of the original meme-based blockchain asset. Doginals enable the inscription of information onto the smallest individual units of a Dogecoin, known as “shibes.”
Consequently, developers and users can mint fungible and non-fungible tokens, similar to ERC20 and ERC721 on EVM blockchains.
Challenges and Opportunities
Despite expanding the use cases of Dogecoin, DRC20 assets come with inherent limitations. They lack smart contract capabilities, making integration into decentralized exchanges unfeasible.
Additionally, trading DRC20 fungible assets is restricted to limit orders, and the transfer of these assets necessitates the inscription of new transferable asset batches for each transaction.
Furthermore, during periods of high traffic, DRC20 assets can strain the Dogecoin blockchain, leading to increased transaction fees and hindering transaction flow.
Regardless of all these shortcomings, DRC20 assets have garnered enthusiastic support from the Dogecoin community.
The Role of PawPort Bridge
The PawPort Bridge represents a breakthrough as the first Dogecoin cross-chain bridge, enabling the porting of DRC20 tokens onto the EVM-compatible Dogechain.
By leveraging this bridge, users can unlock the potential of their DRC20 assets, gaining access to smart contracts and increased utility.
Consequently, Dogecoin-based DRC20 assets are transformed into DOG20 tokens on Dogechain, poised to be integrated into dApps and embrace the Web3 era.
Additionally, PawPort facilitates the bridging of DRC20 out of Dogechain back onto the original proof-of-work network for users seeking to transition.
Advantages of Bridging DRC20 Assets
Bridging DRC20 assets onto Dogechain addresses the limitations and enhances the utility of these assets within the Dogecoin network.
It opens up opportunities to access more liquid markets and trade on a wide array of decentralized exchanges on Dogechain, ultimately empowering users to integrate their DRC20 assets into blockchain games, dApps, and other Web3 applications.
Moreover, by bridging DRC20 to Dogechain, users contribute to the improved scaling of the Dogecoin network, alleviating the strain imposed by these assets on the underlying PoW blockchain.
Operational Framework of the PawPort Bridge
When porting DRC20 tokens through the PawPort bridge, the process involves receiving inscribed DOGE along with the corresponding DRC20 tokens, which are then stored in cold storage.
Simultaneously, their DOG20 counterparts are minted on Dogechain and sent to the user’s EVM wallet of choice. The bridge harnesses the drc-20.org indexer to track the inscriptions on Dogecoin.
Conversely, when bridging out, the bridge burns the DOG20 counterpart on Dogechain and transfers the required DRC20 inscriptions to the user’s Dogecoin wallet.
Bridging Requirements for DRC20 to Dogechain.
To engage in the bridging of Doginals on Dogechain, users will need a DRC20-compatible wallet such as the Doge Labs Wallet for interacting with the Dogecoin blockchain, as well as an EVM-compatible wallet like Metamask for interfacing with the Dogechain blockchain.
Also, users will require DRC20 assets for bridging and some $DOGE on Dogecoin to cover transaction fees, along with $WDOGE (wrapped DOGE) on Dogechain for similar purposes.
Supported DRC20 Assets
The PawPort currently extends support to various DRC20 inscriptions, including:
● DOGI
● FIWB
● PEPE
● MUSK
● OINK
● DCEX
● DALL
● X
● RSTX
● VONX
● DBIT
…and their respective contract address on Dogechain as DOG20 tokens.
In conclusion, the introduction of the PawPort Bridge marks a significant milestone in enriching the utility and practicality of Doginals DRC20 assets within the Dogecoin network.
By providing a seamless cross-chain bridge, PawPort opens up new possibilities for users to maximize the potential of their DRC20 assets, fostering a more robust and versatile ecosystem for Dogecoin and its community.
Stay tuned for updates and announcements by joining the Dogechain Family community on all channels:
