What is sTokens Bridge? and How does it work?

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Ikeda has been a developer in the Dev protocol since September. In this article, I will introduce a new contract, sTokens Bridge, that I have been developing recently. The sTokens Bridge has not yet been released (source here on github sTokensBridge), but in this article I explain what this new contract will bring in the future.

summary

The sTokens bridge is a contract, where sToken holders deposit their sTokens and receive new ERC20 tokens in return. The bridge gives the sToken holder as much ERC20 tokens as they store it (for what is a sToken see this article: sTokens, NFTs Reflect DEV Installation. sToken is NFT and is Certificate Staking).

OSS project creators can offer benefits to sToken owners, and by doing so, creators can give providers incentive to scammers in the long run. The new contract, sTokens Bridge, converts sTokens into ERC20 tokens. With this transformation, Bridge makes the provision of benefits to content creators more flexible and decentralized, thus helping the OSS community to grow.

Why is the sTokens bridge necessary?

Let’s assume here a situation where Alice has 98 DEVs in the “Ingram” property. Through this staking, Alice gets an NFT called sToken which contains the following information: Property = Ingram, StakingAmount = 98 DEVs. When the creators of Ingram want to offer benefits to Alice, they need to check if Alice has sToken and its property is Ingram, moreover, they need to know how much DEV Alice is consuming most of the time.

Source