Bridge Tower Capital is Integrating Chainlink Proof Of Reserve (PoR)



BridgeTower Capital is pleased to announce that they are integrating Chainlink Proof of Reserve (PoR) to help audit and secure the on-chain minting of cross-chain wrapped tokens. 

Chainlink is the most time-tested and historically reliable oracle network in the blockchain industry, already helping secure tens of billions of dollars across 1,200+ integrations and a wide variety of trust-minimized services. Chainlink Proof of Reserve enables the reliable and secure monitoring of reserve assets using automated audits based on cryptographic truth. Issuers that mint on-chain tokens representing off-chain or cross-chain assets can leverage Chainlink PoR to help provide stronger guarantees that they cannot mint more tokens than the assets they have stored in reserves, while users can access PoR data to gain transparency into their risk exposure and the backing of wrapped assets.

The Integration
Chainlink PoR feeds will monitor wallet balances across a variety of blockchains and relay that information to a target blockchain in order to help secure the minting of wrapped cross-chain assets. Through this integration, users of BridgeTower Capital’s Permissioned Markets product — created in partnership with Securitize — will be able to seamlessly access financial services in the multi-chain smart contract ecosystem using cross-chain collateral monitored by Chainlink PoR’s security-reviewed and Sybil-resistant node operators.

With this initial integration, BridgeTower Capital will leverage Chainlink PoR to monitor token balances of custodied wallets across Ethereum, Solana, and Terra mainnets, relaying that information to the Avalanche C-Chain in order to help control the minting of wrapped tokens collateralized by the reserves on the source blockchains. BridgeTower Capital is also exploring opportunities to expand its cross-chain token offerings to other blockchains with the support of Chainlink PoR’s flexible, blockchain-agnostic architecture. For more information about BridgeTower Capital’s investment platform and its recently announced Staked Digital Asset Security (SDAS), which will run on an Avalanche subnet, 👉read the recent press release.

BridgeTower’s Permissioned markets will include DeFi financial products such as customized blockchain staking opportunities, token swaps, and NFT development with arts, entertainment, and sporting ventures to provide seamless, institutionally-compliant products.

With more than 5,000 of its own Staking Nodes, BridgeTower utilizes renewable energy to reduce its carbon footprint. Already a leading proof-of-stake infrastructure provider for leading Layer 1 blockchains and Web 3.0 companies, BridgeTower has built its fast-growing foundational staking and DeFi business through partnerships and investments over the past few years.

After looking through a variety of solutions, they selected Chainlink because it provides a decentralized, automated audit solution to consistently help ensure that the supply of wrapped tokens reflects the reserves on the source blockchain without any manual input or potential tampering in the transmission of data. With their integration of this decentralized infrastructure run by provably reliable node operators, users can feel confident in having an accurate, tamper-resistant, and transparent source of information regarding current cross-chain reserves.

Our integration of Chainlink will help increase access to the opportunities that the decentralized finance ecosystem has to offer and further drive transparency in our investment platform,” said Cory Pugh, CEO and Chairman of BridgeTower Capital. “Our use of Proof of Reserve to help secure cross-chain assets will help instill confidence in BridgeTower Capital’s cross-chain tokens. As we continue to expand our product offerings, we’re also actively exploring the integration of other Chainlink trust-minimized services such as Chainlink Price Feeds.

Some of the critical features of Chainlink PoR include:
  • Automated On-Chain Audits — By keeping an up-to-date reference contract, smart contracts can get automated, on-chain verification of an asset’s collateralization, removing the need to conduct manual audits.
  • High-Quality Data — Through the use of customizable External Adapters, Chainlink can source data from premium data providers who are financially incentivized to provide highly accurate and available data.
  • Decentralized — Chainlink Proof of Reserve Feeds is decentralized at the data source and oracle node level, eliminating central points of failure in the sourcing and delivery of external data to BridgeTower Capital.
  • Transparent — Chainlink Proof of Reserve Feeds can be monitored by anyone in real-time, allowing users to verify the current collateralization of assets.

About Bridge Tower Capital
BridgeTower Capital has developed a global platform to uniquely bring products to its own permission markets to seamlessly enable an institutional gateway to staking, DeFi, NFT, and Web 3.0 entities. BridgeTower operates more than 5,000 of its own staking nodes and owns servers utilizing 100 percent renewable energy. Significant portions of returns from these products are reinvested to continually grow BridgeTower’s infrastructure and assets. BridgeTower is a global company based in Singapore with operating entities in Switzerland and the United States allowing it to compliantly address many of the most important jurisdictions in the global economy. Learn more at 👉

About Chainlink
Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.

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