RELP 3 - Bridging $REL To Alternative Chains

Relation Proposals Achieved Proposals
1

Title: [RELP 3 - Bridging $REL To Alternative Chains]

Authors: [Kurt]

Date Created: [2023-11-06]

Abstract

This proposal outlines the plan for bridging $REL to alternate blockchains beyond Ethereum to reduce high transaction costs. It also aims for the establishment of liquidity pools, facilitating collaborations with other blockchain ecosystems.

Motivation

Ethereum’s network congestion often leads to high gas fees, creating barriers to frequent and cost-effective transactions for our users. Bridging $REL tokens to other high-speed, low-cost networks could effectively mitigate these issues, thereby enhancing user experience and expanding $REL’s market reach.

Rationale

This proposition aligns with the Relation Community’s vision of offering cost-effective, smooth transactions and fostering REL’s symbiotic relationships within other blockchain ecosystems. Better integration with less congested networks epitomizes our commitment to user experience and robust expansion.

Steps to Implement

  1. Identify compatible chains (e.g. Polygon, Arbitrum, Binance Smart Chain, among others).

  2. Engage a dev team specialized in cross-chain interactions.

  3. Develop and test the bridges.

  4. Deploy proposed bridges.

  5. Prepare to launch liquidity pools on alternate chains.

  6. Communicate and educate the community on the new feature

Timeline

  • Identify Compatible Chains: To Be Confirmed

  • Engage Cross-Chain Dev Team: Week 1-3 post chain identification

  • Develop & Test Bridges: Week 3-4 post chain identification

  • Deploy Bridges: Week 4-5 post chain identification

  • Launch Liquidity Pools & Initiate Marketing: Post-deployment

Budgets and Distribution

The proposal earmarks 10 million $REL tokens (1% of the total supply) for bridging purposes.

Detailed budgets concerning development costs, testing, network fees, and community management will follow upon proposal approval.

The successful implementation of this budget will expand $REL’s market stature while ensuring financial feasibility.

6 Likes
2

Hello Relation, A Very good Proposal.
Here is my 2 percentage.

I suggest we bridge with TRX blockchain.
For it will support faster transaction, lower gas fees, and user based.

Tron has leading numbers in stable coin performance.

So a bridge with Tron will also help get us expansion.
Aside from bridge, we can work closely with Tron team.
To take part in Tron Regular HACKATHON, where Relation can later take part to build and launch its future product on Tron network.
@Kurt

5 Likes
3

I think the first chain must be polygon ,which blockchain that most people uesd in Relation community

4

I think polygon will be okay

5

Amazing this great I like the fact that it’s can be used to build decentralized applications

1 Like
6

I believe going with Polygon is a good take

7

I agree, perhaps this will tie in with airdrop #2 further changing the game and fat liquidity, with airdrop #2 exciting and promoting a new network on relationlab! good luck team

8

polygon or arbitrum one