Protocol Information
Chain Fusion allows the Internet Computer Protocol (ICP) to interconnect with multiple blockchains in a decentralized manner, eliminating the need for a single trusted intermediary such as a bridge. The ability of ICP smart contracts to utilise threshold signature schemes to sign and submit transactions directly to other chains enables Chain-key tokens. Each Chain-key token on ICP is backed 1:1 by the native asset and is redeemable at any time. The native wallets are managed by a smart contracts on ICP, there are no intermediaries or centralized bridges. Chain-key tokens begin with ck (e.g. ckBTC, ckETH, etc.). They transact quickly (1 second finality) and transaction fees are negligible.
Audits:
Methodology
TVL: We count the ETH and ERC20-Tokens on 0xb25eA1D493B49a1DeD42aC5B1208cC618f9A9B80 as the collateral for ckETH and ck-ERC20 tokens and we count BTC as the collateral for ckBTCView code on GitHubHacks
Date: Sep 28, 2019
Amount: $6.4m
Classification: Key Compromise
Technique: Private Key Compromised
Chains: Ethereum
Language: Solidity
Target Type: DeFi Protocol
Competitors
Frequently Asked Questions
What is Chain Fusion's TVL?
Chain Fusion currently has $25.02m in total value locked. TVL has increased 29.1% over the past 30 days.
What chains does Chain Fusion operate on?
Chain Fusion operates on 2 chains: Bitcoin and Ethereum. Bitcoin holds the largest share at 76%.
How does Chain Fusion's TVL compare to similar protocols?
Among Decentralized BTC protocols tracked by DefiLlama, Chain Fusion ranks #2 by TVL. The category holds $397.67m across 5 protocols, and Chain Fusion accounts for 6.3% of that total. Other leading protocols include tBTC, SUBFROST, Zeus Network, and iBTC Network.
Has Chain Fusion ever been exploited?
Chain Fusion has 1 recorded security incident. The most recent incident occurred on Sep 28, 2019 and involved $6.4m. It was classified as Key Compromise.