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Cross-Cats is an intent-based cross-chain swap protocol built with flexibility in mind. The core idea is to allow anyone to create a request for anything provable. At launch, EVM settlements and Bitcoin transactions will be part of the provable set. Bitcoin transactions are proven using a Bitcoin SPV client and allows VM chain payments to be conditional on Bitcoin transactions.
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CrossCats is an intent-based cross-chain swap protocol built with flexibility in mind. The core idea is to allow anyone to create a request for anything provable. At launch, EVM settlements and Bitcoin transactions will be part of the provable set. Bitcoin transactions are proven using a Bitcoin SPV client and allows VM chain payments to be conditional on Bitcoin transactions.
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```d2 target=root
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## System Overview
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Cross-Cats is designed for cross-chain intents. Nevertheless, the majority of logic exists on the source chain. **Source Chain** here refers to the chain where the order was **Initiated** by a solver. **Remote Chain** refers to the chain (or chains) where proofs are sent from. This includes asset deliveries.
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CrossCats is designed for cross-chain intents. Nevertheless, the majority of logic exists on the source chain. **Source Chain** here refers to the chain where the order was **Initiated** by a solver. **Remote Chain** refers to the chain (or chains) where proofs are sent from. This includes asset deliveries.
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### Initiation (order claim)
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## Key differentiators
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Cross-Cats has been designed to optimise solver integration metrics:
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CrossCats has been designed to optimise solver integration metrics:
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- Cost of capital – Capital is only held for the duration of a swap and can be underwritten to further decrease the lock duration.
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- Speed – Minimizing settlement overhead, users receive their assets immediately, while solvers can opt in to underwriting for quick input payout.
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- Price Risk – Price Risk is minimized by letting solvers commit to swaps & providing strong order guarantees.
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### Locked Capital & Underwriting
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Cross-Cats has no concept of pre-locking liquidity. Capital is only locked during the actual order flow. Additionally, Users will immediately receive their assets as deliveries are directly from the solver to the user.
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CrossCats has no concept of pre-locking liquidity. Capital is only locked during the actual order flow. Additionally, Users will immediately receive their assets as deliveries are directly from the solver to the user.
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Additionally, for routes supported by underwriters input assets will be available 1-5 minutes after asset delivery. This includes Bitcoin routes for users.
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For Bitcoin to VM swaps the price uncertainty window is from when the order is signed to when the user initiates the Bitcoin transaction and it gets your desired number of confirmations. This may vary from 30 seconds to 60 seconds.
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Cross-Cats has developed a user owned pseudo escrow, that allows the Order Server to give a soft commitment to solvers that a Bitcoin UTXO will be generated. Given that a solver trusts this promise, the price uncertainty window is as low as 30 seconds or shorter.
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CrossCats has developed a user owned pseudo escrow, that allows the Order Server to give a soft commitment to solvers that a Bitcoin UTXO will be generated. Given that a solver trusts this promise, the price uncertainty window is as low as 30 seconds or shorter.
- Order Key: Specific order structure that is used to move storage into calldata. Contains the vast majority of all information relevant for the order. Importantly, it contains the registered inputs & outputs.
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- Quote: Qualified guess for what the best order that will be accepted.
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- Solver: Entity collecting order flow and completing orders.
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- User: The person interacting with the cross-cats UI. Creator of Order Flow.
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- User: The person interacting with the CrossCats UI. Creator of Order Flow.
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- Recipient: Will receive outputs. Is likely to be either a solver or a user but may be neither.
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