Native token bridging

A system for bridging tokens, comprising:

• one or more processors;
• and
• a memory comprising instructions stored thereon, which when executed by the one or more processors, causes the one or more processors to:
• maintain, at a bridge, a collateralization state information representing a relationship between (i) a plurality of tokens allocated to a first blockchain and (ii) backing assets associated with a second blockchain, wherein the plurality of tokens comprise native tokens of the second blockchain;
• receive, at the bridge, a transfer request associated with one or more transactions initiated on the second blockchain and destined for the first blockchain;
• in response to receiving the transfer request, secure, on the second blockchain, backing assets corresponding to the one or more transactions;
• update the collateralization state information based on the secured backing assets corresponding to the one or more transactions;
• determine, using the collateralization state information, whether a collateralization condition is satisfied, the collateralization condition comprising that the backing assets secured on the second blockchain are sufficient to back at least an initially unbacked portion of the plurality of tokens allocated to the first blockchain;
• and
• in response to determining that the collateralization condition is satisfied, mint new tokens at the first blockchain for subsequent transactions.

A non-transitory computer-readable storage medium comprising instructions stored thereon, which when executed by one or more processors, cause the one or more processors to perform operations for bridging tokens, comprising:

• maintaining, at a bridge, a collateralization state information representing a relationship between (i) a plurality of tokens allocated to a first blockchain and (ii) backing assets associated with a second blockchain, wherein the plurality of tokens comprise native tokens of the second blockchain;
• receiving, at the bridge, a transfer request associated with one or more transactions initiated on the second blockchain and destined for the first blockchain;
• in response to receiving the transfer request, securing, on the second blockchain, backing assets corresponding to the one or more transactions;
• updating the collateralization state information based on the secured backing assets corresponding to the one or more transactions;
• determining, using the collateralization state information, whether a collateralization condition is satisfied, the collateralization condition comprising that the backing assets secured on the second blockchain are sufficient to back at least an initially unbacked portion of the plurality of tokens allocated to the first blockchain;
• and
• in response to determining that the collateralization condition is satisfied, minting new tokens at the first blockchain for subsequent transactions.